Virgin Blue's exposure to higher fuel costs forced the airline to downgrade earnings expectations by one-third for the current financial year. In an announcement to the Australian Stock Exchange, the carrier said its full-year profit will fall from A$159 million ($120 million) to A$90-A$100 million for the 12 months to next June 30. It blamed the profit warning on a A$150 million increase in its fuel costs due to price rises. It has no hedging in place. According to Virgin Blue, "the ...

Subscribe to Access this Entire Article

"Virgin Blue issues profit warning on higher fuel prices" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.