Virgin Australia chief executive Johh Borghetti says the market is slowly catching up with the excess capacity swirling around in the domestic market. However, he admits there is still a long way to go. The softening in the national economy, coupled with a weaker Australian dollar and the huge influx of additional seats in the
Tigerair Australia is on a clear path to profitability by 2016/17 after a year of transformation, the budget carrier’s majority owner Virgin Australia says. Virgin completed its 60 per cent purchase of Tigerair Australia from Singapore-based Tigerair Holdings, which held onto the remaining 40 per cent, on July 8, 2013. Since paying $35 million for
Regional Express (Rex) has declared the Australian aviation sector to be in deep crisis after reporting a near halving of full year net profit. The airline said net profit for the 12 months to June 30 2014, fell 44.9 per cent to $7.725 million, from $14.018 million in the prior corresponding period. Revenue fell 1.9
Virgin Australia is introducing business class seating on its trans-Tasman and Pacific Island 737 aircraft from early 2015. From March next year the 10 737s operated by the airline’s New Zealand-based operation (the former Pacific Blue), including the single aircraft operated by Virgin Samoa, will be refiited with the same four-abreast, 38in pitch, eight-seat business class
Virgin Australia has announced it is bringing forward first deliveries of the 23 Boeing 737 MAX 8s it has on order from 2019 to 2018 as part of efforts to increase aircraft fleet efficiency. However, the airline’s CEO John Borghetti won’t say when exactly the first aircraft, which were originally ordered in July 2012, will now be
Virgin Australia has posted a full year net loss of $355.6 million and says conditions remain challenging in the current year. The result was below market consensus of a $214 million loss for the 12 months to June 30 2014, according to a median of five analyst estimates gathered by Australian Aviation, and represented a deterioration from the
