BRUSSELS, Belgium, July 22, 2002 (PRIMEZONE) -- Despite the downturn in the aviation industry, Virgin Express (OTCBB:VIRGY) announces that the booked revenue in June 2002 grew by 97.1 % (excluding code share revenues) compared with June 2001. On some routes (e.g. Malaga and Madrid), a growth of over 110% was achieved. The airline, which was profitable last year and which forecasts profit again for 2002, has been the largest passenger carrier to and from Brussels Airport since April 2002.
It is clear that the reorganization and changes to the business model in 2001 have been successful and will allow further growth in the European market. It is important to point out that:
-- Over 90% of the Virgin Express flights depart and arrive on time
(average during 2002).
-- Virgin Express offers ever more destinations and frequencies to
the travelling public.
-- Distribution channels have been further developed to allow
passengers to buy the Virgin Express "value for money " product
more easily through travel agents, the internet or directly by
phone.
All these efforts have also led to a growth in corporate passengers travelling on Virgin Express. On many routes more than 60% of its passengers are on business-related travel.
At present Virgin Express offers flights to 14 major European destinations: Athens, Barcelona, Copenhagen, Faro, Geneva, Gothenburg, Lisbon, London-Heathrow, Madrid, Malaga, Milan, Nice, Rome and Stockholm. The European low fare airline announced recently that it will open a new base at Koln-Bonn Airport (Germany) in December 2002.