Strong quarter reflects improving conditions, with group revenue up 5.7%.
Virgin Australia has just released trading details for the first quarter of the financial year, with Underlying Profit Before Tax improving $18 million on the previous corresponding period.
Speaking at the VAH annual general meeting, ceo John Borghetti said the positive trajectory from the end of the 2017 financial year had continued, with Q1 FY18 revenue up 5.7% year on year and domestic load factors rising 3.8 points to 81.4%.
Passenger numbers were up by 1% and capacity was reduced by 3.3%, with Borghetti saying the airline was continuing to focus on disciplined capacity management.
He said current market conditions and strong forward sales mean the airline is expecting that its underlying performance for the second and third quarters of the financial year will also continue to improve.
More details in today’s issue of Travel Daily.