Virgin Australia Holdings VAH.AX :
** H1 REVENUE AND INCOME $ 3,118.2 MLN VS $3,071 MLN
** H1 STATUTORY LOSS ATTRIBUTABLE $97.3 MLN VS PROFIT OF $54.8 MLN
** H1 GROUP UNDERLYING PROFIT BEFORE TAX OF $14.5 MLN
** GROUP CURRENTLY EXPECTS REVENUE TO REMAIN FLAT FOR FY20 ON PRIOR CORRESPONDING PERIOD.
** GROUP CAPACITY REDUCTION OF THREE PER CENT FOR FY20
** CORONAVIRUS SITUATION IS CURRENTLY EXPECTED TO NEGATIVELY IMPACT GROUP EARNINGS BY $50-75 MLN IN 2H20.
** CORONAVIRUS OUTBREAK HAVING A SIGNIFICANT EFFECT ON TRAVEL INDUSTRY, ARE SEEING WEAKER DOMESTIC & INTERNATIONAL DEMAND
** SIGNIFICANT REDUCTIONS IN TIGERAIR FLEET AND NETWORK DUE TO CORONAVIRUS
** WORKFORCE REDUCTION PROGRAM REMAINS ON TRACK TO REMOVE 750 ROLES FROM BUSINESS AND ANNUALISED SAVINGS OF $75.0 MLN BY END OF FY20
** SHORT-TERM CAPACITY REDUCTIONS IN SIGNIFICANTLY AFFECTED MARKETS INCLUDING TRANS- TASMAN AND CAIRNS DUE TO CORONAVIRUS
** FULL REVIEW OF SUPPLIERS AND CONTRACTS ALSO REMAINS ON TRACK FOR A TARGET OF $50.0 MLN IN ANNUALISED COST SAVINGS BY END OF FY20
** HAS BEEN AN INCREASE IN CANCELLATIONS & REDUCTION IN FORWARD BOOKINGS, LARGELY FOR LEISURE DESTINATIONS AND TIGERAIR ROUTES
** WILL FURTHER REDUCE ITS FLEET SIZE BY ACCELERATING EXIT OF SEVEN A320 AIRCRAFT FROM TIGERAIR FLEET, WHICH WILL CEASE FLYING BY OCT
** ANNOUNCES A NUMBER OF NETWORK AND CAPACITY CHANGES THAT ADDRESS MARKETS MOST AFFECTED, PARTICULARLY TIGERAIR
** FLEET REDUCTION INITIATIVE IS EQUIVALENT TO ABOUT FIVE PER CENT GROUP CAPACITY REDUCTION IN FY21
** EXIT OF ALL HONG KONG FLYING BY MARCH 2020
** TIGERAIR TRANSITION TO ALL BOEING 737-800NG AIRCRAFT BY OCT 2020
** TIGERAIR AUSTRALIA TO EXIT FIVE ROUTES
** ON TRACK FOR 400 ROLES EXITED BY 31 MARCH 2020, WITH 750 BY YEAR END