News: Carbon tax hits Virgin's H1 profit

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Virgin Australia Holdings Limited (ASX:VAH) has suffered a 56 per cent fall in its first half net profit of $23 million.



Australia’s second largest carrier says the federal government’s carbon tax had a $24.4 million impact on its result.



CEO John Borghetti says Virgin has delivered a solid result in a difficult operating and economic environment.



Virgin expects to report improved underlying performance in the full year, excluding impact from its proposed Skywest Airlines and Tiger Australia.



The airline says its business efficiency program is on track to deliver over $60 million in the current financial year.



Virgin has not offered specific second half earnings guidance owing to uncertainty in economic conditions and the competitive environment.