Window for change opens at Virgin as owners take exit row
The Virgin Australia board did 2 things last week that not only cleaned up the group’s balance sheet for John Borghetti’s successor but may also have created a window for the much-speculated re-making of its cluttered share register. The board wrote-off more than A$760m of assets, including $452m of deferred tax assets, in the group’s results for the year to June, overwhelming the $109.6m of underlying pre-tax earnings and pushing Virgin to a $653.3m statutory loss. The board also did something that was, for Virgin, quite unusual. It provided firm guidance for the first half, saying that on both an underlying and statutory level the airline was expected to post a profit. The write-downs and the guidance provided a signal that the appointment of a new CE is imminent. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-09-04/unaligned/window-for-change-opens-at-virgin-as-owners-take-exit-row
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Window for change opens at Virgin as owners take exit row
The Virgin Australia board did 2 things last week that not only cleaned up the group’s balance sheet for John Borghetti’s successor but may also have created a window for the much-speculated re-making of its cluttered share register. The board wrote-off more than A$760m of assets, including $452m of deferred tax assets, in the group’s results for the year to June, overwhelming the $109.6m of underlying pre-tax earnings and pushing Virgin to a $653.3m statutory loss. The board also did something that was, for Virgin, quite unusual. It provided firm guidance for the first half, saying that on both an underlying and statutory level the airline was expected to post a profit. The write-downs and the guidance provided a signal that the appointment of a new CE is imminent. <br/>
