Virgin tips profit plunge

: Latest News; Thursday, 27 January 2011

Australia's Virgin Blue says it expects a drop in its first half net profit due to recent floods plus the IT problems that hit its check-in system late last year. It also says lower consumer spending has impacted sales.

It now expects to post a net profit for the six months to December 31 of between A$23 million and A$26 million, more than 50 per cent down on the A$62.5 million for the same period in 2009.

"The extent of this impact on revenue cannot be accurately estimated at this time, but could be up to $40 million," the airline said.

Virgin tips profit plunge

Latest News

Thursday, 27 January 2011

It now expects to post a net profit for the six months to December 31 of between A$23 million and A$26 million, more than 50 per cent down on the A$62.5 million for the same period in 2009.

"The extent of this impact on revenue cannot be accurately estimated at this time, but could be up to $40 million," the airline said.