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Virgin Australia Q3 underlying loss widens to US$46m
[SYDNEY] Virgin Australia Holdings Ltd said on Thursday its third-quarter underlying loss widened from a year earlier due to weak domestic market conditions and short-term costs from steps to simplify its aircraft fleet.
Australia's second-largest airline posted an underlying loss before tax of A$62.3 million (S$64.4 million) for the quarter ended March 31, compared with a loss of A$18.6 million a year ago.
Virgin has been struggling with weak demand from corporate customers such as mining companies, as well as government travelers. In February, it reported a 48 per cent fall in first-half underlying profit before tax to A$42.3 million.