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30/03/2004
Virgin Express reports 19.6m euro loss
Virgin Express has revealed a 19.6 million euro net operating loss for 2003 - which the Brussels-based airline has blamed on "heavy ticket discounting".
Executive Chairman David Hoare also pointed to "challenges" resulting from the Iraq war and price cutting against rival Ryanair that saw revenue per available seat kilometre plummet 21%.
Virgin Express reported a fall in revenues of 9% in 2003, down to 207 million euro from 227 million euro in 2002, but said that operating costs had been "well controlled" in the period.
Mr Hoare said: "Despite these challenges we continue to offer our customers superb value for money.
"In 2003 we carried 2.5 million passengers on our scheduled routes, 5% more than last year and we remain the largest intra-European passenger carrier from Brussels Airport. We fly from Brussels to 16 major cities around Europe flying over 65% of the passengers to Barcelona, Malaga and Nice, and over 45% of the passengers to Lisbon, Rome, Athens and Geneva.
"We pride ourselves on delivering industry leading punctuality. Over the full year we achieved an ontime arrival performance of 93.4%. In November 2003 we were voted the 'Best Short Haul Airline of the Year' by the Belgian trade, for the second consecutive year."
Today's loss statement comes four years after a radical restructuring of the airlines operation saw an exit from charter operations and an Irish subsidiary. The airline also halved its fleet and focused operations on Brussels.
Talks are ongoing over the possible merger of Virgin Express and SN Brussels Airlines (SNBA) following the signing of a non-binding letter of intent on March 16.
(SP)
Executive Chairman David Hoare also pointed to "challenges" resulting from the Iraq war and price cutting against rival Ryanair that saw revenue per available seat kilometre plummet 21%.
Virgin Express reported a fall in revenues of 9% in 2003, down to 207 million euro from 227 million euro in 2002, but said that operating costs had been "well controlled" in the period.
Mr Hoare said: "Despite these challenges we continue to offer our customers superb value for money.
"In 2003 we carried 2.5 million passengers on our scheduled routes, 5% more than last year and we remain the largest intra-European passenger carrier from Brussels Airport. We fly from Brussels to 16 major cities around Europe flying over 65% of the passengers to Barcelona, Malaga and Nice, and over 45% of the passengers to Lisbon, Rome, Athens and Geneva.
"We pride ourselves on delivering industry leading punctuality. Over the full year we achieved an ontime arrival performance of 93.4%. In November 2003 we were voted the 'Best Short Haul Airline of the Year' by the Belgian trade, for the second consecutive year."
Today's loss statement comes four years after a radical restructuring of the airlines operation saw an exit from charter operations and an Irish subsidiary. The airline also halved its fleet and focused operations on Brussels.
Talks are ongoing over the possible merger of Virgin Express and SN Brussels Airlines (SNBA) following the signing of a non-binding letter of intent on March 16.
(SP)
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06 August 2001
British Airways perform to expectations
British Airways have announced a pre-tax profit of £40 million compared to a loss of £50 million in the same quarter last year, for the three months to June. The upsurge in profits was boosted by the £100 million profit British Airways made when it sold its no-frills airline Go in June this year.
British Airways perform to expectations
British Airways have announced a pre-tax profit of £40 million compared to a loss of £50 million in the same quarter last year, for the three months to June. The upsurge in profits was boosted by the £100 million profit British Airways made when it sold its no-frills airline Go in June this year.
19 November 2003
'Always on' Internet connections continue to grow
The latest monthly survey of UK Internet Service Providers (ISPs) shows that in the year to September 2003 there was a 4.1% increase in the number of subscriptions to the Internet and a 130% increase in 'always on' connectivity. The month-on-month change between August and September 2003 was 0.9%.
'Always on' Internet connections continue to grow
The latest monthly survey of UK Internet Service Providers (ISPs) shows that in the year to September 2003 there was a 4.1% increase in the number of subscriptions to the Internet and a 130% increase in 'always on' connectivity. The month-on-month change between August and September 2003 was 0.9%.
26 November 2001
Consignia’s pre-tax losses climb to £100 million
Consignia has announced a half-year operating loss of £100 million before tax and exceptional items. This compares to a loss of £20 million for the same period a year ago, and after accounting for exceptional items, the post-tax loss for the half-year is £281 million, compared with a £113 million loss for the previous half year.
Consignia’s pre-tax losses climb to £100 million
Consignia has announced a half-year operating loss of £100 million before tax and exceptional items. This compares to a loss of £20 million for the same period a year ago, and after accounting for exceptional items, the post-tax loss for the half-year is £281 million, compared with a £113 million loss for the previous half year.
03 June 2004
UK has fewer work stoppages than ever
UK work stoppages fell to 133 last year, the lowest on record, according to the June edition of Labour Market Trends out today. This new low, which saw working days lost in 2003 total 499,100, compares with 146 stoppages (1.323 million days lost) in 2002 and 194 stoppages (525,100 days lost) in 2001.
UK has fewer work stoppages than ever
UK work stoppages fell to 133 last year, the lowest on record, according to the June edition of Labour Market Trends out today. This new low, which saw working days lost in 2003 total 499,100, compares with 146 stoppages (1.323 million days lost) in 2002 and 194 stoppages (525,100 days lost) in 2001.
20 April 2004
Good year for Tesco as profits top £1.6bn
It has been a good year for the supermarket retailer Tesco which has seen pre-tax profits soar to £1.6 billion, according to the group's full-year preliminary statement issued today. In addition to driving up pre-tax margins by 17.6%, the company said that it had slashed its debts by £600 million, down to £4.1 billion. In the UK, sales grew by 14.
Good year for Tesco as profits top £1.6bn
It has been a good year for the supermarket retailer Tesco which has seen pre-tax profits soar to £1.6 billion, according to the group's full-year preliminary statement issued today. In addition to driving up pre-tax margins by 17.6%, the company said that it had slashed its debts by £600 million, down to £4.1 billion. In the UK, sales grew by 14.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
