Virgin Australia swings to profit

Company News

Virgin Australia Holdings (ASX:VAH) has posted its best half year result in six years, reporting a net profit attributable to owners of $45.7 million in the six months to 31 December 2015.
 
The result marks a turnaround from the $53.1 million loss posted the previous corresponding period.
 
Chief executive John Borghetti said the company had benefitted by $33.8 million from falling oil prices.
 
Mr Borghetti told investors that based on current market conditions, all fundamental business metrics are in place for the group to report a profit for FY16.
 
Virgin Australia will not pay a dividend.

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