Virgin Australia Holdings Limited
(ASX:VAH) has booked a full year net loss of $98.1 million, a significant fall from the $22.8 million profit posted last year.
The result was in line with the airline’s revised guidance, with profits hit by a difficult and competitive environment as well as the carbon tax.
In the year to June 30, revenue was $3.99 billion, a 1.9 per cent increase on year.
CEO John Borghetti says while earnings did not meet initial expectations, Virgin has completed a major restructure and transformation program.
Virgin declined to offer guidance for the current financial year, blaming an uncertain economic environment.
