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.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US
Airbus net profit soars 28% in first quarter
AirAsia discloses new listing plans under RM6.8 billion units merger