Virgin Express MD replaced as airline reports loss

Report by John Lavabre

VIRGIN Express managing director John Osborne is to be replaced by the airline’s director of flight operations Neil Burrows.

The announcement comes as the airline releases its third quarter results to September 30.

Highlights of the results show:

* Pre tax losses of £4.4 million

* Scheduled revenue increased 14%

* Operating expenses increased by 12.6% to £57.5 million.

Virgin Express chairman David Hoare said structural changes were continuing to improve the business. This has included the closing of the airline’s Stansted base, the cancellation of an order for 11 new aircraft and the return to the lessor of another craft.