Virgin Atlantic Almost Doubles Profit, Aided by Delta Alliance
- Earnings from U.S. partnership increased 55% last year
- Oil-price drop contributed to 196 million-pound cost decline
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Richard Branson’s Virgin Atlantic Airways Ltd. almost doubled earnings last year after expanding its pact with 49 percent shareholder Delta Air Lines Inc., hosting more people on holiday packages and benefiting from the drop in oil prices.
Pretax profit excluding exceptional items surged to 22.5 million pounds ($32 million) from a restated 12.4 million pounds in 2014, helped by a 196 million-pound reduction in operating costs attributed to lower fuel expenses, Virgin said in a statement Wednesday.