VIRGIN ATLANTIC IS PLANNING to invest £100 million in product development, following pre-tax profits of £18.5m over the last year.
A spokesperson for the airline confirmed the investment in product development was "forthcoming" and did not include the A330s which had already been delivered.
However, further A330s would include Upper Class, in addition to economy and premium economy featured on the existing aircraft, and "this could come out of our product development budget".
The spokesperson also said Virgin would be updating "many elements of the on-board service and some product developments in the cabins". Virgin took delivery of two Airbus A330- 300 aircraft earlier this year, featuring a new in-flight entertainment system, and a newly designed economy seat.
The carrier reported a return to profit over the last year, with revenues up 13 per cent and pre-tax profits of £18.5m.
"While we have been very focused on trading the airline back to profitability, we have worked hard to introduce new aircraft, new routes and extra rotations to the existing network where there has been high demand," said Virgin Atlantic CEO Steve Ridgway. However he warned that since the turn of the year, market conditions have become tougher.
While "business traffic remains strong, demand in the economy cabin is more challenged", he added, warning that continued rises in air passenger duty (APD) had affected Caribbean routes and premium economy products.