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 ...

Subscribe to Access this Entire Article

"Printer-friendly" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.