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Business class flights boost Virgin Atlantic profits

Virgin Atlantic has attributed its increased profits for the last financial year to a surge in the numbers of business class passengers it served. Virgin Atlantic's premium passenger figures rose by 22 per cent in the 2007-08 financial year as it faced stiff competition for a share of the transatlantic market from British Airways and other major carriers. In total for the financial year 2007-08, Virgin Atlantic transported some 5. 7 million passengers, an increase of 7. 6 per cent on 2006-07. These new figures have been facilitated by the launch of a number of new routes from Virgin Atlantic's Heathrow Airport base, to long-haul destinations such as Mauritius, Nairobi and Chicago, as well as a new route from Gatwick Airport to Kingston. Sir Richard Branson, president at Virgin Atlantic, commented on the Competition Commission's recommendation that BAA should be broken up and the potential merger between British Airways and American Airlines be allowed to go ahead: 'It's ironic that just as regulators are breaking up one monopoly - BAA - British Airways and American Airlines are trying to create another. 'Our results prove that consumers want choice on transatlantic routes. Unless the regulators block the proposed BA/AA monopoly, consumers will lose out - and they'll pay higher ticket prices for the privilege. ' Virgin Atlantic claims to have made an encouraging start to the current financial year, following its strong results in 2007-08, with sales up by 16 per cent in the first quarter.

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