While chief executive Shai Weiss characterised 2022 as a "year of recovery and ramp up", the emergence of the Omicron strain of Covid-19 early last year, the effects of Russia’s invasion of Ukraine on fuel and energy prices and global supply chains, and a spiralling cost of living crisis, has stymied Virgin’s recovery.
Despite Weiss’s previous forecast of a return to profitability in 2023, Virgin is now viewing 2023 as a "year of delivery", with chief financial officer Oli Byers on Tuesday (10 May) insisting the brand was now "on track to return tom profitability in 2024".
