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Virgin Australia feels cost pressures – projects operating loss and sets higher fares

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  • Virgin Australia feels cost pressures – projects operating loss and sets higher fares

    Aggressive competition in the domestic market, rising operating costs, restructuring costs and investments in Skywest and Tigerair have resulted in Virgin Australia expecting to post a loss after tax of up to $110 million for the 2012/13 financial year.

    In a statement to the Australian Stock Exchange, Virgin CEO John Borghetti said the company’s performance for the 2013 financial year had been impacted by a number of factors including “the difficult economic and competitive environment, one-off pre-tax restructuring and transformation costs and the carbon tax”. The company also blamed the transition to its new reservation system for it taking longer than usual to reconcile revenues.

    http://australianaviation.com.au/201...-higher-fares/
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