Virgin Australia reported an underlying loss before tax of AUD45 million ($40 million) for the first quarter of the 2015 financial year. This represents an 18.3% improvement over the prior-year period, despite the first quarter being traditionally a seasonally weaker period for the airline. The first-quarter period covers July 1-Sept. 30, 2014. Statutory loss after-tax for the quarter was AUD59.1 million. Revenue increased 1.3% year-on-year, but continued weakness in leisure demand held ...

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