Virgin Australia's NZ operations report $31 mln profit following accounting changes

Mon, 08 Dec 2014

By Fiona Rotherham Dec. 8 (BusinessDesk) - Virgin Australia’s earnings performance on the highly competitive trans-Tasman route has improved from loss-making to a profit as a result of accounting policy changes and other benefits from its alliance with Air New Zealand. The Australian airline's New Zealand operations posted a $31 million profit in the year ending June 30, compared to a loss of $9 million the year before, according to accounts for Virgin Australia Airlines (NZ) Ltd filed with the Companies Office. Revenue rose $1.86 million...

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