Virgin's push for higher-yielding airline passengers pays off with A$26.5 million drop in net loss

Wed, 18 Feb 2015

By Fiona Rotherham Feb. 19 (BusinessDesk) - Virgin Australia Group, Australia’s second-largest airline, has narrowed its net loss for the half-year by A$26.5 million owing to cost-cutting, an easing in its battle with Qantas for the domestic market, and a drop in oil prices. The statutory net loss was A$47.8 million for the six months ending Dec.31, compared to a loss of A$74.3 million for the previous corresponding period, the ASX-listed company said in a statement. First half underlying profit before tax was A$10.2 million, compared...

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