Brussels-based Carrier Taps Berlin as Newest Market
Virgin Express Holdings, plc [VIRGY] saw profits drop slightly in
the quarter ended June 30 to $3.1 million, from $3.3 million in the
same quarter last year. For the first half of the year, the company
eked out a profit of $247,706, which was an improvement of a loss of
$82,000 in the first half of 1998.
Virgin Express saw expenses rise resulting from an eight percent
hike in block hours flown in the quarter and 16 percent for the half.
Fuel prices remained level, but the carrier's usage jumped 14 percent
in the quarter. Along with other European carriers, Virgin was hurt by
major air traffic control delays and re-routings as a result of the
conflict in Kosovo.
In other news, Virgin Express has tapped Berlin as its newest
destination. The carrier will fly to London Stansted, Rome Fumicino
and Brussels beginning Nov. 10. Berlin passengers will be offered one-
stop service through Brussels to Barcelona and Madrid, and to Nice in
April and via Stansted to Shannon, Ireland.
Virgin Express Holdings plc
3 Mos Ended 6/30 6 Mos Ended 6/30
(In US$ Millions) 1999 1998 1999 1998
Revenue $73.8 $67.6 $121.2 $108.5
Expense $69.4 $61.9 $122.1 $109.0
Profit $3.1 $3.3 $.247 -$.82
FOR MORE INFORMATION on this or any other story from COMMUTER/REGIONAL
AIRLINE NEWS, August 16, 1999, please call Phillips Business
Information, Inc.'s Client Services Department at 800/777-5006.
FOR MORE INFORMATION on this or any other story from COMMUTER/REGIONAL
AIRLINE NEWS, August 16, 1999, please call Phillips Business
Information, Inc.'s Client Services Department at 800/777-5006.
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