Virgin Australia (ASX:VAH) has reported a statutory loss after tax of $653 million for the 2018 financial year.
The company says the loss reflects $573 million in non-cash accounting adjustments and the impairment of Virgin
Australia’s international business assets.
Group revenue increased 7.4 per cent to just over $5 billion.
The airline company earnings (EBITDA) rose 26 per cent to just under $474 million.
No dividend was declared.
The company expects group revenue in the first quarter of the 2019 financial year to grow by at least 7 per cent on the prior corresponding quarter.
Shares in Virgin Australia (ASX:VAH) closed 4.2 per cent higher at $0.25 yesterday