Virgin Australia Q2 earnings slide 37% in tough market
Virgin Australia Friday posted a 37% fall in Q2 underlying earnings before taxes as tough conditions persisted in the domestic aviation market. The airline reported an underlying profit before tax of A$45.9m for the quarter ended Dec 30, compared with an underlying profit before tax of $73m a year earlier. On a statutory basis, including restructuring charges associated with a cost-savings program, it reported a profit before taxes of $13.1m. Q2 is typically the most profitable of the year for the airline. Virgin will report first-half results later this month. The figure released Friday indicates underlying earnings of $42.3m before tax, given it lost $3.6m in Q1. <br/>Virgin in November said it would "actively manage" capacity due to subdued conditions in the domestic market, where it competes against Qantas Airways. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-02-03/unaligned/virgin-australia-q2-earnings-slide-37-in-tough-market
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Virgin Australia Q2 earnings slide 37% in tough market
Virgin Australia Friday posted a 37% fall in Q2 underlying earnings before taxes as tough conditions persisted in the domestic aviation market. The airline reported an underlying profit before tax of A$45.9m for the quarter ended Dec 30, compared with an underlying profit before tax of $73m a year earlier. On a statutory basis, including restructuring charges associated with a cost-savings program, it reported a profit before taxes of $13.1m. Q2 is typically the most profitable of the year for the airline. Virgin will report first-half results later this month. The figure released Friday indicates underlying earnings of $42.3m before tax, given it lost $3.6m in Q1. <br/>Virgin in November said it would "actively manage" capacity due to subdued conditions in the domestic market, where it competes against Qantas Airways. <br/>
