Virgin Q1 loss result of sluggish domestic market

Virgin Q1 loss result of sluggish domestic market

A soft domestic market has been blamed for Virgin Australia’s $3.6 million pre-tax loss for the first quarter.

This is a far cry from the previous year’s $8.5 million profit for the three months to 30 September.

Virgin Australia said restructuring charges worsened the net loss, however they were “actively managing” its capacity given the soft domestic conditions.

On a positive note, total revenue passengers increased by 4.8 percent for the quarter, while revenue load factor improved by two points for the airline. Cost per available seat kilometre decreased compared to the prior corresponding period.

In a bid to lock in low prices, Virgin Australia has stepped up its fuel hedging program, with 90 percent hedged for the 2017 financial year.

Email the Travel Weekly team at traveldesk@travelweekly.com.au

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