Virgin Blue warned of another challenging year ahead after announcing a 13.2% slide in earnings amid escalating competition from archrival Qantas, high fuel prices and slowing travel demand. CEO Brett Godfrey said the LCC has entered 2005-06 "behind the eight ball" after returning a net profit of A$138.1 million ($104.8 million) for the 12 months to March 31 compared to A$159 million for the previous year. While the result was consistent with market expectations, it represented the first ...

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