Virgin Australia forecasts a significant drop in its financial performance for the fiscal year through June 30, prompting the airline to plan capacity and network cuts. In a trading update issued May 17, Virgin predicted its underlying earnings will be at least A$100 million ($68.7 million) down from the previous fiscal year. Since the carrier achieved an underlying profit of A$64.4 million in fiscal 2018, a decline of this level would sink Virgin to a loss. The airline cited revenue ...

Subscribe to Access this Entire Article

"Virgin Australia to cut capacity, network on poor financial forecast" 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?

Already registered? here.