Virgin Atlantic has bucked the trend of other airlines by reporting annual pre-tax profits of £68.4m, nearly double the £34.8m experienced the year earlier.

The results are in direct contrast to other airlines, such as British Airways, which reported an annual loss before tax of £401m last week. One of the reasons that Virgin experienced such a rise in profits is due to a rise in business class premium fare passengers.

"We are winning market share from our competitors during the toughest trading environment ever," said Virgin Atlantic chief executive Steve Ridgway.