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Virgin Australia profits from business travelers

Virgin Australia profits from business travelers

Virgin Australia Holdings Ltd., the nation's second-largest airline, says it returned to profitability in the last fiscal year due to growth in the corporate travel sector.
The budget airline's net profit of 22.8 million Australian dollars ($23.6 million) posted Tuesday for the year to June 30 reversed a loss of AU$67.8 million in the previous 12 months.
Australia's largest airline, Qantas Airways Ltd., last week reported a AU$245 million annual loss in profits, hurt by rising fuel prices, a series of strikes that temporarily grounded its fleet and its struggling international division. The loss was the Australian flagship carrier's first since the government privatized it in 1995.
Virgin chief executive John Borghetti said the uncertain economic environment meant the company could not provide financial guidance.


Updated : 2021-03-07 08:12 GMT+08:00