Sir Richard Branson's Brussels-based airline Virgin Express says it has increased profits in the past quarter by more than 50 per cent.
The group, which flies to 13 European cities out of Brussels, says pre-tax profits for the three months to September 30th came in at €4.6 million against €3 million in the same period last year.
Executive chairman Mr David Hoare said: "This improvement means that in what has been a difficult trading year, Virgin Express is now profitable for the year to date and we remain on track to meet our forecast made at the beginning of the year for profit for the full year 2002".
In 2001 the group reported pre-tax profits of €880,000 (£510,000).
The group is 59 per cent owned by Sir Richard's Virgin group, with the remainder floated on the pan-European Euronext exchange.
PA