Virgin Australia frets over low consumer confidence

Sydney

VIRGIN Australia Holdings Ltd, Australia's second-largest airline, says the economy is its biggest concern as consumer confidence hits a three-year low.

The state of Australian household demand is a bigger worry than oil prices or competition with Qantas Airways Ltd, chief executive officer John Borghetti said on Wednesday. Those factors helped drive Virgin to a A$356 million (S$386 million) net loss for the year ended June.