SYDNEY, Feb 11 (Reuters) - Australian airline Virgin Australia Holdings Ltd VAH.AX said it swung to a half yearly profit as it cut costs and took more big-spending corporate passengers, and forecast a return to profitability for the full year.
The airline, which competes domestically with Qantas Airways Ltd QAN.AX , posted a net profit of A$45.7 million for the six months to Dec. 31, up from a net loss of A$53.1 million in the prior first half.
"All fundamental business metrics are in place for the group to report a profit for the 2016 financial year," Virgin Chief Executive Officer John Borghetti said in a statement, a forecast of improvement over two previous years of net losses.