Aug 29, 2014

Qantas v Virgin: the kick-and-gouge, cut-throat brawl

Qantas isn't the only airline in financial strife, as Virgin Australia releases its latest financial results.

Ben Sandilands — Editor of Plane Talking

Ben Sandilands

Editor of Plane Talking

The second act in financial reporting terms of a brutal year for airline employees and investors was completed this morning with record losses by the Virgin Australia group.

Its statutory loss after tax of $355.6 million and underlying loss before tax of $211.7 million (not including its part of the sorry Tigerair saga) was as uninspiring a performance as the similar basis underlying the loss of $646 million for the Qantas group (including its Jetstar misadventures) announced yesterday.

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