Virgin Australia secures new loan from major partners

[SYDNEY] Virgin Australia said on Monday it has secured a A$425 million (S$439 million) 12-month loan facility with its four major shareholders - Air New Zealand , Etihad Airways, Singapore Airlines and Virgin Group - as part of a structural review.

Virgin Australia said the review will include an assessment of its mix of debt and equity capital.

The carrier reported in February that it had swung to a half-year profit as it cut costs and attracted more big-spending corporate passengers. It also forecast a return to profitability for the full year.

REUTERS