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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