Sir Richard Branson's airline Virgin Atlantic has announced it made a pre-tax loss of £92m for the 12 months ending April 2002.

Virgin, which first announced the results in unaudited form in May this year, said yesterday it was aiming to return to profitability in 2002-03.

The airline said that excluding exceptional items - arising out of the aftermath of the events of September 11 - it made a pre-tax profit of £2m.

Virgin Atlantic group, which includes the holiday and cargo side of the business, had a turnover of £1.416bn for 2001-02 during which the airline carried four million passengers, down from 4.4 million the previous year.

Meanwhile, Virgin also announced yesterday it was expanding its Caribbean services.

The airline will launch direct weekly services between Gatwick and Tobago and Grenada from next May. Virgin Carrier will also start a weekly Manchester-Barbados service in winter 2003.

Virgin will expand its existing services between Gatwick and Barbados, St Lucia and Antigua.

A special Grenada and Tobago brochure will be launched next month by Virgin Holidays and prices will start at £549 for a one-week trip.