Virgin Australia expects return to profitability by next June
Sydney
Virgin Australia Holdings Ltd said it would return to profit by next June for the first time in four years, counting on a switch of long-haul routes to its low-cost Tigerair subsidiary to reverse international losses.
The airline will move several Bali routes from its mainline carrier to Tigerair Australia, the former Tiger Airways Holdings unit that it took into 100 per cent ownership last October. It will also pull out of flights linking Perth to Phuket and add flights to New Zealand, Fiji and the Solomon Islands, the airline said in a statement to the Australian Stock Exchange.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
EV automakers get reprieve in US tax credit rules
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring
Chinese share of French EV market slumps after incentives curbed
Ferrari unveils US$423,000 sports car with 1960s bloodline
Airbus called for compensation to take on money-losing Spirit operations: sources