Australia's second biggest airline, Virgin Australia (VAH) posted a $98.1m loss for FY13 (July12-June13), following the biggest restructure in the carrier's...

CommSec

Australia's second biggest airline, Virgin Australia (VAH) posted a $98.1m loss for FY13 (July12-June13), following the biggest restructure in the carrier's history. The result was held back most by approximately $100m in restructuring costs - linked to the acquisition & integration of both Skywest & Tiger, together with the move to its Sabre booking system. VAH increased fares for its domestic & some international flights starting mid-August. The market was well aware of the likely disappointing annual result due to two profit downgrades by VAH in the past three months. The carbon tax has cost VAH $47.9m over the year; a cost it was unable to recoup in revenue. For more info visit: (VIEW LINK)


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CommSec

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CommSec is Australia's leading online broker. CommSec has been committed to providing the best in online trading since 1995. CommSec helps make informed investment decisions with comprehensive market research, free live pricing and powerful...

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