29 August 2014 – copyright David Eyre
Following hot on the heels of Qantas Group’s loss announcement yesterday, Virgin Australia has also announced a loss.
- accelerating the delivery of Boeing 737 Max aircraft to 2018 instead of 2019, to benefit from fuel efficiency
- two oldest leased A330s being withdrawn – VH-XFA and VH-XFB (VH-XFA has already been withdrawn)
- selling 35% stake in frequent flyer program
- includes a $46 million loss from its 60% stake in Tigerair Australia, which will not be profitable until the 2017 financial year.
- Skywest is now fully integrated into Virgin Australia and its resources industry FIFO charter business has increased revenue contribution by 30% in the 2013/14 financial year.