Sir Richard Branson’s airline returns to profitability but says consumer uncertainty is hitting bookings

Virgin Atlantic has warned of a slowdown in demand for transatlantic travel, prompting a further fall in the share price of rival British Airways’ owner, IAG.

Both UK long-haul carriers lean heavily on lucrative routes between London and North America to boost their profits, and analysts have warned that economic uncertainty and growing tension between the US and Europe could start to harm their business.