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Virgin Australia swings to profit on higher domestic demand

Published 29/08/2018, 08:46 am
© Reuters.  Virgin Australia swings to profit on higher domestic demand
VAH
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Aug 29 (Reuters) - Virgin Australia Holdings VAH.AX on Wednesday swung to an annual underlying profit, boosted by rising domestic demand, although the figure came in below market expectations.

Australia's No. 2 airline's full-year underlying pretax profit, its most closely watched measure, was A$109.6 million ($80.2 million) in the 12 months ended June 30, compared to A$3.7 million loss for the prior year.

The figure was below an average estimate of A$113.5 million from four analysts surveyed by Thomson Reuters I/B/E/S.

Full-year revenue and income rose 7.4 percent to A$5.42 billion.

($1 = 1.3669 Australian dollars)

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