ATW Daily News
Virgin Blue forecasts A$80-A$110 million full-year profit
Monday February 8, 2010Virgin Blue estimated that its profit before tax and exceptional items for the fiscal year ending June 30 will be A$80-A$110 million ($69.2-$95.2 million), compared to a loss of A$93 million in the prior year. CEO Brett Godfrey told shareholders in November that Blue expected to return to the black this year (ATWOnline, Dec. 1, 2009). It said the new forecast reflects better operating conditions in the first half of the fiscal year, including a 27.6% year-over-year drop in average fuel price to $92 per barrel and a recovery in domestic yields from the lows seen in early 2009. However, it warned that the unpredictable pace of the economic recovery and competition from Jetstar Airways and Tiger Airways could put pressure on yields for the remainder of the year.
Other headlines:
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- Korean regulators tag KE, Asiana for antitrust violations; KE faces ACCC cargo charge
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- Special items, cuts return Cathay Pacific to profit
- US regional growth could hinge on major airline labor negotiations
ATW Media Group
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