Virgin Australia Group falls into the red in H1FY2020

    Virgin Australia Holdings Ltd reported (25-Feb-2020) the following financial highlights for the six months ended 31-Dec-2019:

    • Revenue*: AUD3118 million (USD2135 million), +1.5% year-on-year;
      • Virgin Australia domestic: AUD2114 million (USD1447 million), +1.5%;
      • Virgin Australia International: AUD686.4 million (USD469.9 million), +3.0%;
      • Tigerair Australia: AUD305.4 million (USD209.1 million), +0.9%;
      • Velocity: AUD215.4 million (USD147.5 million), +3.1%;
    • Operating costs: AUD3013 million (USD2063 million), +3.8%;
      • Labour: AUD710.7 million (USD486.6 million), +6.3%;
      • Fuel: AUD645.4 million (USD441.9 million), +6.6%;
      • Airport charges, navigation and station operations: AUD591.9 million (USD405.2 million), +4.0%;
    • Profit before net finance costs and tax: AUD105.2 million (USD72.0 million), -37.1%;
    • Segment EBIT** (loss): AUD112.1 million (USD76.7 million), -41.4%;
      • Virgin Australia domestic: AUD112.9 million (USD77.3 million), -36.6%;
      • Virgin Australia International: (AUD48.9 million) (USD33.5 million), compared to a loss of AUD15.2 million in p-c-p;
      • Tigerair Australia: AUD2.0 million (USD1.4 million), compared to a loss of AUD6.6 million in p-c-p;
      • Velocity: AUD68.9 million (USD47.2 million), +16.8%;
    • Net profit (loss): (AUD88.6 million) (USD60.7 million), compared to a profit of AUD73.8 million in p-c-p;
    • Total assets: AUD6782 million (USD4643 million);
      • Cash and cash equivalents: AUD1108 million (USD758.3 million);
    • Total liabilities: AUD8382 million (USD5739 million).