Virgin Australia's half-year profit soars as domestic fares rise
Virgin Australia has posted an 8-fold rise in underlying profit before tax in the first half to A$81.5m as a result of ongoing fare increases in the domestic market and better conditions in the international market. On a bottom line basis, Virgin reported a $62.5m profit in the first half, up from a $47.8m loss in the same period the prior year. It did not reveal how much the lower fuel price had contributed to the result, but the carrier has previously flagged relatively lesser benefits from the oil price fall than rival Qantas. Virgin will not unveil its detailed half-year financial figures until Feb 11, but it provided information on its December quarter results Thursday because major shareholder SIA is obliged to disclose its share of Virgin's earnings each quarter. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-02-04/unaligned/virgin-australias-half-year-profit-soars-as-domestic-fares-rise
https://portal.staralliance.com/cms/logo.png
Virgin Australia's half-year profit soars as domestic fares rise
Virgin Australia has posted an 8-fold rise in underlying profit before tax in the first half to A$81.5m as a result of ongoing fare increases in the domestic market and better conditions in the international market. On a bottom line basis, Virgin reported a $62.5m profit in the first half, up from a $47.8m loss in the same period the prior year. It did not reveal how much the lower fuel price had contributed to the result, but the carrier has previously flagged relatively lesser benefits from the oil price fall than rival Qantas. Virgin will not unveil its detailed half-year financial figures until Feb 11, but it provided information on its December quarter results Thursday because major shareholder SIA is obliged to disclose its share of Virgin's earnings each quarter. <br/>
