Virgin Australia swings to Q1 loss
Virgin Australia reported a net loss of A$34.6m (US$26.5m) for Q1 of its 2017 financial year. The loss includes the impact of restructuring charges, the carrier said. The underlying loss before tax was A$3.6m, a reversal from last year’s A$8.5m profit. During the quarter to end September Virgin increased domestic capacity by 0.6% (in available seat km terms), but reduced international by 13.1%. Overall capacity dropped by 0.5%. Virgin said capacity was being actively managed in response to the trading environment. Passengers carried rose to 6.24m, from 5.95m in the same period last year, with load factor up 2 percentage points to 81.2%. At low-cost unit Tiger Australia, revenue in revenue passenger km terms rose 34.7% on a capacity increase of 30.4%.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-11-03/unaligned/virgin-australia-swings-to-q1-loss
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Virgin Australia swings to Q1 loss
Virgin Australia reported a net loss of A$34.6m (US$26.5m) for Q1 of its 2017 financial year. The loss includes the impact of restructuring charges, the carrier said. The underlying loss before tax was A$3.6m, a reversal from last year’s A$8.5m profit. During the quarter to end September Virgin increased domestic capacity by 0.6% (in available seat km terms), but reduced international by 13.1%. Overall capacity dropped by 0.5%. Virgin said capacity was being actively managed in response to the trading environment. Passengers carried rose to 6.24m, from 5.95m in the same period last year, with load factor up 2 percentage points to 81.2%. At low-cost unit Tiger Australia, revenue in revenue passenger km terms rose 34.7% on a capacity increase of 30.4%.<br/>
