Out today http://news.smh.com.au/breaking-news-business/virgin-to-partner-with-hawaiian-airlines-20110420-1doh6.html
Note that the Delta JV is also quietly coming along. It looks they have been talking with the DoT this week, with a decision expected by June. http://www.travelweekly.com.au/news/virgin-delta-vow-to-maintain-flights
A pullback in the oil-price with the AUD remaining high would quickly erase the main reason for the latest profit downgrade.
With VBA trading at or around book value, this is shaping up as a possible great contrarian buy.
VBA Price at posting:
29.5¢ Sentiment: LT Buy Disclosure: Held
