Following hard on the heels of the poor financial performance reported by Qantas for the six months to Dec. 31, 2013, its main rival Virgin Australia has also posted a downturn in profits for the same period. For the first half of the current financial year, Virgin Australia reported a net loss after income tax of AUD83.7 million ($75 million), reversing a net profit of AUD23 million reported for the prior corresponding half-year ended Dec. 31, 2012. The airline attributed the downturn in ...

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