The Bain Capital-owned Virgin Australia says earnings have jumped by almost a fifth to $519 million, and that it has recorded a profit for the second year in a row after more than a decade of deficits.
The growth in underlying earnings, released in a statement on Monday, compares with a 17 per cent fall at its larger rival Qantas for the 12 months to June 30. However, Virgin has not released its full accounts and did not report an overall profit figure for the year.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
