Virgin folds NZ accounts into Aussie parent as revenues fall

Tue, 08 Nov 2016

By Fiona Rotherham Nov. 9 (BusinessDesk) - Financial results from the New Zealand end of Virgin Australia’s trans-Tasman operations are no longer being reported separately although its annual group accounts show revenue from New Zealand falling markedly in the 2016 financial year. During the 2016 financial year, Virgin Australia Airlines (NZ) transferred all its assets, liabilities, rights and obligations to its parent, Australia’s second-largest airline. A remaining $2.15 million liability from the New Zealand arm was forgiven under...

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