Strong domestic sales driving surge in revenue.
Virgin Australia has just released a trading update, saying it expects its Underlying Profit Before Tax for the six months to 31 December 2018 to be at least $100 million.
Last year the underlying result for the same period was $81.9 million, so the forecast is a 22% increase, and that includes an $88 million higher fuel bill for this year.
The company said Group revenue for the three months to 30 September 2018 was up 9.7% year-on-year, while current booking trends, particularly in the domestic business, see Virgin Australia anticipating a 10% increase for the current quarter, compared to the same period in 2017.
Virgin Australia said given the second half of the financial year is traditionally weaker for the aviation industry, it would “continue to monitor current trends and update the market if required”.
More details in today’s issue of Travel Daily.