Virgin Australia Holdings Limited
(ASX:VAH) has trimmed its net loss and returned to an underlying profit in the first half of the 2015 financial year.
Australia’s second largest carrier booked an interim net loss of $53.1 million, improving almost 29 per cent from a loss of $74.3 million the year before.
On an underlying basis the company’s result rebounded to a profit of $10.2 million, from a loss of $45.4 million the year before. Revenue rose 6 per cent to $2.4 billion.
CEO John Borghetti says the result reflects a significant improvement in financial performance underpinned by driving yield growth in the domestic market and its cost cutting program.
No interim dividend has been declared.
