Virgin 2015 profit 22.5m

http://www.reuters.com/article/us-virgi ... SKCN0WP1DP

Seems they made a 22.5m profit last year. I've heard the target was originally 60m then revised down to 50m so a big difference as to what they achieved.

[buns]

Reading in The Times, VS lost out due to fuel hedging so not surprised the sales were not as good as before.

buns

If they "made" 329 million as quoted on fuel savings, but lost 198 million on hedges, then i would say that is terrible financial planning, and actually sounds more like they had a "punt" on higher fuel prices, rather than just covering what they needed. And without this windfall their 22.5 million profit would have been a 306.5 million loss. Lies, damn lies and statistics.

VS is not the only airline to hedge it's fuel costs in advance. BA also took a hit as did DL and no doubt did numerous others..

In the past hedging has proved benefical when the oil price is rising and is good financial planning.

VS is not the only airline to hedge it's fuel costs in advance. BA also took a hit as did DL and no doubt did numerous others..

In the past hedging has proved benefical when the oil price is rising and is good financial planning.

And despite the wrong hedging those airlines are making record profits - hence why I was a bit underwhelmed by this result. Oh well hoping for cheaper fares this year