Virgin Atlantic has made a £32.5m ($57m) provision in its latest accounts to cover costs arising from its role in the criminal conspiracy with British Airways to fix the fuel surcharges levied on fares for long-haul flights to and from the UK.

The airline, controlled by Sir Richard Branson, has escaped prosecution by the US and UK competition authorities, as it was the first party to volunteer information about the illegal price fixing. It has admitted it violated both US and UK law.