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Virgin lowers profit forecast


VIRGINAtlantic has scaled back its profit forecast for the year ending April 1999 due to tough trading conditions.



It originally predicted profits of at least £100m, but is nowsaying the figure will be between £90m and £100m.



A spokesman said managing director Steve Ridgway had told staff there would be some ‘belt tightening’ while the market remains weak.



Ridgway said Upper-Class yields from business passengers have declined, although economy bookings are up.



The spokesman said there was no question of job cuts as new routes to Shanghai, Chicago and Cape Town would create new positions. The airline is also planning flights to India.



A half-price offer was launched this month to boost sales, but it will not help yields significantly.


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