Virgin Australia will drastically shrink Tigerair's fleet and is preparing steep capacity cuts across its entire network as the coronavirus outbreak stunts efforts to lift out of its financial woes. The airline Wednesday reported a statutory net loss of A$97m for the 6 months to Dec 31, a swing from a $55m profit in the same half a year earlier. Virgin said it would cut 7 A320 aircraft from Tigerair by October which, with the transfer of 2 737 from its Virgin operations, will reduce the budget carrier's fleet from 13 to 8 aircraft. That means Tigerair's fleet will have more than halved over 2 years. Virgin CE Paul Scurrah said the coronavirus outbreak was having a "significant effect" on the travel industry, and would cost the airline up to $75m in the second half from lower domestic and international demand. <br/>