Virgin Blue's unhedged exposure to escalating jet fuel prices undermined its net earnings for the first half of the financial year, with the carrier reporting an 8.5% fall in profit to A$68.2 million ($52.4 million), reflecting a 33.7% rise in the cost of fuel over the six-month period to March 31. CEO Brett Godfrey said the A$49 million in additional fuel expense was offset partially by the benefits of Virgin Blue's new corporate business strategy and improved productivity, which ...

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