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TD breaking news – Virgin Australia reports improved fourth quarter results

VA after tax loss of $18m for three months to 30 June. 

Virgin Australia has just released its results for the fourth quarter of the 2014/15 financial year, showing a significant improvement from the previous corresponding period.

The Statutory Loss After Tax was $17.8m, while for the full financial year to 30 June the loss was $93.8 million, an improvement of $261.8 million.

Fourth quarter Group Yield and Domestic Yield for the Virgin Australia Group continued to improve, the carrier said, with underlying costs per available seat kilometre excluding fuel continuing to decline.

“The result represents a significant year on year improvement in performance for the seasonally weaker June quarter, and we expect to see a continued positive trajectory,” said chief financial officer Sankar Narayan.

He highlighted the reduction in non-fuel costs, the improved performance of Tigerair Australia and “success in attracting high yielding market segments” as key contributing factors.

More details in today’s issue of Travel Daily.


The above Breaking News Alert was sent to Travel Daily subscribers on 29 Jul 15

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