"Our idea is to connect as many European cities as possible within the next two years and become the main carrier in Europe," he said. Costs would be kept down by ticketless travel, in which passengers would be supplied only with a booking number and a boarding card. Virgin Express was 90 per cent-owned by Virgin which had rights to buy the remaining 10 per cent. Mr. Branson hoped the new venture would not be a loss-leader. "We expect $200m turnover and $10m profit this year," he said, a figure attributed mainly to load factors of 80 to 90 per cent. Flights from Spain were particularly popular, he added.Reuse content
Richard Branson yesterday inaugurated the Virgin Express air link between Madrid, Rome and Copenhagen at fares he said would be half those of existing carriers, writes Elizabeth Nash. Speaking in Madrid, Mr Branson said it was the first time a company had linked European destinations in third countries and it marked the start of a "revolution in European air travel".