(Recasts with chairwoman quote, share movement)
Nov 8 (Reuters) - Virgin Australia Holdings Ltd VAH.AX said on Wednesday it was considering going private as it swung to profitability in the first quarter from a loss a year ago.
"The board has held discussions about privatisation, however there is no outcome to report to the market at this stage," Chairwoman Elizabeth Bryan said at the company's annual general meeting.
Australia's second-biggest airline is about 90 percent-owned by Singapore Airlines Ltd SIAL.SI , Etihad Airways, Virgin Group, HNA Aviation and China's Nanshan Group.
Underlying profit before tax in the three months to Sept. 30 "improved" by about A$18 million ($14 million) from an underlying loss of A$3.6 million a year ago, the airline said in a trading update.
It did not provide a final profit figure for the quarter and has stopped releasing quarterly earnings updates.
Shares of the company jumped as much as 10.3 percent to its highest in more than two months, while the broader market .AXJO was flat.
Virgin said unit revenue for its domestic business, which represents about 70 percent of the company, rose by over 8 percent on the prior corresponding quarter.
It said it expected its cost-cutting programme to continue running ahead of schedule, adding it was on track to deliver A$350 million per year in annualised net free-cash flow savings by the end of fiscal 2019.
The carrier, which competes against Qantas Airways Ltd QAN.AX , in August said a surge in business confidence had driven up corporate traffic. ($1 = 1.3068 Australian dollars)