Virgin Blue warns of further earnings drop

Virgin Blue, Australia's largest low-cost operator, warned that it faces a further significant decline in net earnings of A$89.2 million ($70 million) for the next financial year if fuel prices remain at current levels. Acting Chairman David Ryan announced that the airline is considering "a range of initiatives" to address the impact of extra costs imposed by the fuel price hike, including introduction of an additional ticket surcharge. Fuel prices have risen 28% in recent months and the ...