Virgin Blue Holdings blamed soaring fuel prices and one-off product enhancement costs for its 54.7% drop in net profit to A$97.7 million ($85.1 million) for the fiscal year ended June 30. The result was slightly ahead of market expectations but management advised that the year ahead will be tough, although it still expects a positive result. The underlying net profit was A$140.5 million but the costs associated with the launch of V Australia, domestic services in New Zealand, the ...

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