Virgin Australia is selling a minority share of its frequent flyer business to a prominent Asia-Pacific investment group in a move that will yield A$336 million ($314.1 million) for the airline. The carrier announced the sale on the same day that it reported a net loss of $A355.6 million for the fiscal year ended June 30, 2014. Just a day earlier, Qantas revealed its decision to not sell a partial stake in its own frequent flyer program after carefully considering such a step. Under the ...

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