Virgin Atlantic Profit up 67 Percent

With an increase in passenger traffic and revenue, Virgin Atlantic reported a pretax profit of $125.9 million for the first half of fiscal 2008-2009, a 67 percent jump.

The airline saw 3 percent more traffic during the six-month period, which began in March and ended in August, with a premium business increase of 6 percent, while revenue for the carrier and Virgin Holiday, its affiliated tour operator, rose about 15 percent, the airline reported.

Virgin has shifted capacity, deferred aircraft orders and built up its cash reserves to deal with fuel prices and industry credit concerns. The airline has increased its cash position to $1.3 billion, said CEO Steve Ridgway.

But all airlines still will be facing economic turbulence, Ridgway said Oct. 7 during an International Aviation Club luncheon in Washington.