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Virgin Blue plunges to A$160 million full-year loss.
Virgin Blue Holdings blamed the tough operating environment, one-off charges and nonrecurring costs for a A$160 million (US$133.2 million) loss in the fiscal year ended June 30, the company's worst-ever result and a reversal from the A$97.7 million surplus reported the prior year.
The loss occurred despite a 12.8% lift in revenue to A$2.63 billion. Last month, Blue announced a A$231 million capital raising and said it expected a full-year loss of approximately A$165 million (ATWOnline, July 28 ). At that time, the company highlighted the one-time costs associated with the launch of its V Australia subsidiary.
Group airlines flew 21.8 billion RPKs during the year, up 16%, against a 19.3% rise in capacity to 27.8 billion ASKs. Load factor fell 0.6 point to 79.1%. Yield was down 5.3% to 10.84 Australian cents and unit cost excluding fuel eased 4% to 6.53 Australian cents. It expects a breakeven result in the current fiscal year.
(Source: Air Transport World)
Virgin Blue Holdings blamed the tough operating environment, one-off charges and nonrecurring costs for a A$160 million (US$133.2 million) loss in the fiscal year ended June 30, the company's worst-ever result and a reversal from the A$97.7 million surplus reported the prior year.
The loss occurred despite a 12.8% lift in revenue to A$2.63 billion. Last month, Blue announced a A$231 million capital raising and said it expected a full-year loss of approximately A$165 million (ATWOnline, July 28 ). At that time, the company highlighted the one-time costs associated with the launch of its V Australia subsidiary.
Group airlines flew 21.8 billion RPKs during the year, up 16%, against a 19.3% rise in capacity to 27.8 billion ASKs. Load factor fell 0.6 point to 79.1%. Yield was down 5.3% to 10.84 Australian cents and unit cost excluding fuel eased 4% to 6.53 Australian cents. It expects a breakeven result in the current fiscal year.
(Source: Air Transport World)