LONDON—Virgin Atlantic Group incurred a £48.5 million ($67.6 million) net loss for 2017, down from a £187.3 million net profit in 2016, citing “significant operational challenges and [a] difficult economic backdrop” for the downturn. Virgin Atlantic cut capacity 2.2% year-over-year (YOY) in 2017 as transatlantic competition strengthened, causing passenger numbers to drop to 5.3 million, down 100,000 YOY. Load factor fell 0.4 points to 78.3% and group revenue ...
