VAH 0.00% 8.6¢ virgin australia holdings limited

News: Virgin Australia Q3 underlying loss widens to $46 mln

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    May 18 (Reuters) - Virgin Australia Holdings Ltd (VAH) said on Thursday its third-quarter underlying loss widened from a year earlier due to weak domestic market conditions and short-term costs from steps to simplify its aircraft fleet.

    Australia's second-largest airline posted an underlying loss before tax of A$62.3 million ($46.31 million) for the quarter ended March 31, compared with a loss of A$18.6 million a year ago.

    Virgin has been struggling with weak demand from corporate customers such as mining companies, as well as government travelers. In February, it reported a 48 percent fall in first-half underlying profit before tax to A$42.3 million.

    ($1 = 1.3454 Australian dollars)

 
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