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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.
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.
