The Virgin Atlantic airline today announced a pre-tax loss of £92 million sterling for the 12 months ending April 2002.
Sir Richard Branson's Virgin, which first announced the results in unaudited form in May this year, said it was aiming to return to profitability in 2002-03.
The airline said excluding exceptional items - arising out of the aftermath of the events of September 11th - it made a pre-tax profit of £2 million.
Virgin Atlantic group, which includes the holiday and cargo side of the business, had a turnover of £1.416 billion for 2001-02 during which the airline carried four million passengers - down from the 4.4 million the previous year.
Virgin announced today it was expanding its Caribbean services. The airline will begin direct weekly services between Gatwick and Tobago and Grenada from May 2003. Virgin carrier will also start a weekly Manchester-Barbados service in winter 2003.
Virgin will also expand its existing services between Gatwick and Barbados, St Lucia and Antigua.