Virgin Australia Holdings Ltd
(ASX:VAH) has made a first half loss for the first time in two decades. The aviation company posted a loss of $83.7 million for the first half of the 2014 financial year compared to a $23 million profit for the 6 months prior.
Virgin chief executive John Borghetti says the airline has been hit hard by the cost of the carbon tax, weaker economic conditions and costs relating to increased capacity.
However revenue rose by 6 percent as Virgin continues to increase market share. The company declined to give earnings guidance because of an ‘uncertain economic environment. Virgin Australia will also not pay a dividend.
