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Virgin Atlantic has announced that it saw an increase in annual profits in the 2007-08 financial year and attributed this success in part to a surge in business class passenger numbers.

The 12-month period saw Virgin Atlantic's premium passenger numbers rise by 22%, with the airline claiming that it took market share from British Airways and other rival carriers.

Total passenger numbers increased by some 7.6% to reach 5.7m in 2007-08 as Virgin Atlantic boosted its number of worldwide destinations to 30.

Locations including Chicago, Nairobi and Mauritius were made available from London Heathrow while flights to Kingston were launched from Gatwick.

Sir Richard Branson, president of Virgin Atlantic, used the announcement of results as an opportunity to comment on some of the current issues facing the aviation industry.

'It's ironic that just as regulators are breaking up one monopoly – BAA – British Airways and American Airlines are trying to create another,' he said.

'Our results prove that consumers want choice on transatlantic routes. Unless the regulators block the proposed BA/AA monopoly, consumers will lose out – and they'll pay higher ticket prices for the privilege.'

The 2008-09 financial year started well for Virgin Atlantic, with first-quarter sales up by some 16% compared to 12 months earlier.

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