VA underlying profit of $112 million, up 37% on record H1 revenue of $3.1 billion.
Virgin Australia has just released its results for the six months to 31 December 2018, with outgoing CEO John Borghetti saying it was the company’s best performance since the 2008 financial year.
Group Underlying Profit Before Tax was $112.3 million, while the company’s Statutory Profit After tax was $73.8 million, up almost $70 million on the previous corresponding period.
Borghetti said the result was driven by record performance in the VA domestic business, supported by stable market conditions, disciplined capacity management, continued effective cost control and stronger passenger yields.
“We’ve made solid progress in strengthening the financial foundations of our business. Today’s results continue to demonstrate the ongoing success of our cost transformation program which is improving cash flow and reducing financial leverage to deliver sustainable profitability,” he said.
More details in today’s issue of Travel Daily.