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 ...

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