Virgin Australia provides update on cash flow and Velocity performance

    Virgin Australia Group provided (03-Jul-2017) an update on cash flow, Velocity Frequent Flyer performance for 2017 and reconfirmed expectations for the fourth quarter underlying performance.

    • The Group expects to report a positive free cash flow performance for the FY2017 of AUD0-50 million (USD0-38 million). This is a AUD90-140 million (USD69-108 million) improvement year-on-year;
    • The Velocity Frequent Flyer business reached eight million members during Jun-2017. For FY2017, Velocity’s Segment EBIT performance is expect to improve by 2%-3% year-on-year;
    • The Group reconfirmed its previous statement that it expects the underlying performance of the group for FY2017 to improve year-on year.