Although it was another tough year as Virgin Express faced more competition from full-service low-fare charter operators, the airline reduced its net loss to €7.3 million ($9.5 million) in 2004 from €19.6 million in the previous year. Operating loss narrowed to €3.9 million from €16.1 million in 2003. Total revenue fell 13% to €179.8 million, mainly owing to a reduction in the carrier's fleet from 13 to 11. "A further reduction is planned for 2005," Executive ...

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