Virgin Atlantic chief executive Craig Kreeger said the results mark the conclusion of the recovery period, putting "firm foundations in place for the future". The group had a pre-tax loss of £51 million the year ending December 2013 - the last time the airline reported a profit was in 2011.
Group revenue was £2.9 billion in 2014, with Virgin Holidays recording a profit for the year before tax and exceptional items of £5.7 million, up £3 million year on year, and increased revenue by 1.1%. Passenger satisfaction scores have increased, with an 11% improvement since 2012, while 85.5% of flights departed within 15 minutes of schedule, meaning that 14.5% did not.
Virgin Atlantic has reported its first profit since 2011 and the airline's founder Sir Richard Branson said he was looking forward "to the next 30 years".
The carrier is reporting a pre-tax profit of £14.4 million for the year ending December 31 2014, representing an improvement of Virgin Atlantic has reported its first profit since 2011 and the airline's founder Sir Richard Branson said he was looking forward "to the next 30 years".
Sir Richard has hailed staff for doing "a great job in turning around the airline".
Sir Richard Branson's airline Virgin Atlantic is set to fly from Northern Ireland for the first time.
A total of eight services will be opened between Belfast and Orlando in Florida in June and July 2015.
Virgin is also expanding its existing Las Vegas services by operating flights to the Nevada gambling city from Glasgow in autumn 2015.
Delta Air Lines has confirmed that is has bought a 49% stake in Virgin Atlantic.
They will work together on more than 100 routes, it was announced.
When Virgin Atlantic announced on its Twitter feed that it was launching the world's first glass-bottomed aeroplane, most news outlets saw it for the April Fools' Day prank it was.
The alarm was raised when Chinese bloggers noticed that the story was being reported as a hoax in western media.
Virgin Atlantic claims to be launching the world's first glass-bottomed aeroplane.
The airline tweeted this picture showing how the service will look:
Email you April Fools' Day suspicions to firstname.lastname@example.org or comment on our Facebook page.
Sir Richard Branson said the alliance between Virgin Atlantic and Delta Air Lines was "exciting" after a deal was struck between the two companies.
Virgin Atlantic President, Sir Richard said: "This is an exciting day in Virgin Atlantic history. It signals the start of a new era of expansion, financial growth and many opportunities for our customers and our business.
"I truly look forward to the possibilities our partnership with Delta will offer. We have always been known for our innovation and service and have punched above our weight for 28 years.
"That is why our customers love us so much. We will retain that independent spirit but move forward in a strengthened partnership with Delta.”
Sir Richard Branson's Virgin Group is to retain a 51% stake in Virgin Atlantic after Delta Air Lines agreed a deal to buy 49% of the airline.
Scotland's Transport Minister Keith Brown said it was a welcome announcement for both passengers and the air industry.
He said: "We look forward to a long and productive relationship with Virgin Atlantic and the exciting connections they can offer with all the benefits that will bring for passengers, Scotland's aviation industry and the wider Scottish economy.
"The detail will be worked out over the next couple of weeks but we are pleased that the European Commission has taken note of the need for both Edinburgh and Aberdeen to be served and that Virgin Atlantic will now be able to operate from two of Scotland's most important cities."
The minister said he remained concerned about the lack of competition on the Glasgow to Heathrow service as a consequence of Bmi's withdrawal of the service last year.
Glasgow was not part of the remedies package considered by the European Commission.