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Summary - Funding Rounds

Founding Date

1984
Virgin Atlantic Airways is a subsidiary of Virgin Group

Virgin Atlantic Airways Revenue Breakdown

Embed Graph

Virgin Atlantic Airways revenue breakdown by business segment: 99.5% from Airline Traffic and Cargo Operations and 0.5% from Other

Virgin Atlantic Airways revenue breakdown by geographic segment: 56.1% from United Kingdom, 28.8% from North America and Caribbean and 15.0% from Other

Virgin Atlantic Airways Income Statement

Annual

GBPFY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

2.0b2.3b2.4b2.5b2.4b2.4b2.3b2.2b2.3b

Revenue growth, %

(2%)

Cost of goods sold

1.9b2.0b2.2b2.3b

Gross profit

133.2m314.6m228.4m216.6m

Gross profit Margin, %

7%14%10%9%

Sales and marketing expense

117.1m111.1m

Operating expense total

2.1b2.2b

Depreciation and amortization

47.2m65.6m81.8m

EBIT

(147.5m)9.7m(92.1m)(84.9m)16.0m197.2m154.8m(40.4m)(49.1m)

EBIT margin, %

(7%)0%(4%)(3%)1%8%7%(2%)(2%)

Interest expense

11.4m13.1m10.7m10.9m29.6m17.1m23.1m23.3m15.4m

Interest income

2.7m7.6m4.6m2.8m2.7m6.2m3.7m5.1m12.8m

Pre tax profit

(158.5m)700.0k(98.6m)(93.0m)(194.2m)89.5m202.3m(54.8m)(82.1m)

Income tax expense

(33.3m)(9.1m)(41.5m)(33.3m)(40.2m)6.1m21.4m(11.1m)(25.9m)

Net Income

(125.2m)9.8m(57.1m)(59.7m)(154.0m)83.4m180.9m(43.7m)(56.2m)

Virgin Atlantic Airways Balance Sheet

Annual

GBPFY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

444.1m572.7m489.3m399.8m283.7m584.4m524.0m443.5m487.4m

Accounts Receivable

179.3m184.6m191.5m189.2m147.1m129.7m131.0m117.6m137.2m

Prepaid Expenses

39.7m31.3m

Inventories

28.5m32.0m41.4m41.4m43.1m38.8m30.2m31.3m33.6m

Current Assets

857.6m995.8m894.2m813.0m689.3m946.6m855.5m783.7m886.2m

PP&E

303.4m291.4m311.4m337.8m410.2m536.4m665.5m696.8m798.5m

Total Assets

1.3b1.7b1.7b1.7b1.9b

Accounts Payable

53.4m68.1m78.1m87.4m81.3m41.1m36.0m61.7m76.7m

Short-term debt

123.9m320.0m17.2m17.6m210.2m

Current Liabilities

816.8m935.8m995.0m1.0b1.3b1.3b986.6m1.1b1.2b

Long-term debt

10.8m373.4m462.8m453.8m549.5m

Non-Current Liabilities

407.6m360.3m299.2m207.4m211.2m490.0m625.6m552.5m651.6m

Total Debt

134.7m693.4m480.0m471.4m759.7m

Total Liabilities

1.5b1.8b1.8b

Common Stock

4.5m4.5m4.5m4.5m4.5m4.5m4.5m4.5m4.5m

Preferred Stock

5.0m5.0m

Retained Earnings

129.2m122.5m71.2m11.5m(232.5m)(149.1m)51.1m10.0m(2.8m)

Total Equity

163.7m157.0m105.7m46.0m(198.0m)(114.6m)91.5m47.8m34.9m

Debt to Equity Ratio

5.2 x9.9 x

Debt to Assets Ratio

0.3 x0.3 x

Financial Leverage

-6.6 x-14.5 x18.6 x34.6 x53.5 x

Virgin Atlantic Airways Cash Flow

Annual

GBPFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

180.9m(43.7m)

Depreciation and Amortization

108.8m95.9m

Accounts Receivable

92.1m20.3m

Inventories

(2.1m)(1.1m)

Accounts Payable

(72.1m)41.0m

Cash From Operating Activities

120.1m259.8m121.2m79.1m75.6m

Purchases of PP&E

(289.6m)(217.7m)

Cash From Investing Activities

(126.9m)(153.7m)(159.4m)(122.6m)(174.2m)

Long-term Borrowings

(52.7m)(18.7m)

Cash From Financing Activities

400.0k194.6m(52.7m)12.7m61.5m

Net Change in Cash

(6.4m)300.7m(90.9m)(30.7m)(37.1m)

Virgin Atlantic Airways Ratios

GBPFY, 2010

Virgin Atlantic Airways Operating Metrics

FY, 2015FY, 2016FY, 2017

Passengers

5.9 m5.4 m5.3 m

Aircraft Fleet

403939

Available Seat Kilometers

48.39 b47.18 b46.16 b

Passenger Load Factor

76.8%78.7%78.3%

Passenger Revenue per Available Seat Kilometer

£0.04£0.04£0.04

Passenger Revenue per Revenue Passenger Kilometres

£0.05£0.05£0.05

Cost per Available Seat Kilometer

£0.05£0.05£0.05

On-time Performance

75.9%80.9%79%

Cargo, metric tonnes

214 k218 k230 k

Fuel Consumed, gallons

460 m420 m413 m