Virgin Atlantic Airways suffers fall in profits as it calls for quick Brexit airline agreement

Virgin Atlantic Airways has suffered a dive in profits after the costs of leasing its aircraft fleet jumped. Pre-tax profits tumbled two thirds to GBP3.9m last year after finance costs rose to GBP19.4m at the airline. The numbers came as the airline claimed an aviation agreement with the US is expected to be a high priority for the govt as it works on an equivalent agreement with the EU. It expects the govt to “prioritise” a liberal agreement with the US, given the UK’s existing arrangements are catered for by an EU-wide agreement which it could find itself outside of after Brexit. The company’s planes were fuller in 2016 and low fuel prices continued to aid overall performance. Management also said it backed Heathrow’s expansion but it would be “simply untenable” for the airport to increase passenger charges. <br/>