ForexMart ForexMart

Prime News

Virgin Australia first-half profits drop, defers Boeing deliveries

Virgin Australia reported on Friday that its first-half profits dropped by 48 percent, and said it would delay the delivery of new Boeing 737MAX aircraft following the drop in airfares because of tough conditions in the domestic aviation market.

The airline posted an underlying profit before tax of A$42.3 million ($32.55 million) for the 6 months ended December 31, versus the A$81.5 million it reported in the same period a year ago.

On a statutory basis, including restructuring charges associated with a cost-savings programme, it reported a loss of A$A21.5 million, compared with a A$62.5 million profit in the previous year.

Recommend: Prime News
 
Pound Edges Down after as PM May’s Poll Lead Narrows
26 May 2017, 06:19 UTC+00   
Views today: 1580 
Oil Prices on the Defensive after OPEC’s Decision Disappoints
26 May 2017, 04:58 UTC+00   
Views today: 1573 
Fed’s Williams Expects Limited Impact from Trump’s Fiscal...
26 May 2017, 01:16 UTC+00   
Views today: 1569 
Japanese Inflation Driven Up by Higher Energy Costs
26 May 2017, 00:46 UTC+00   
Views today: 1549 
Gold Prices End Lower as Dollar Stabilizes
26 May 2017, 00:05 UTC+00   
Views today: 1540 

All Prime news