Virgin Australia posts $681m FY loss
Virgin Australia has posted a full-year loss of $681 million, impacted by a $120 million impairment of its international business assets and deferred tax accounting write-offs for $451.9 million.
Excluding the one-off items, it swung to an underlying profit before tax of $109.6 million, boosted by record earnings in its core domestic business.
Virgin's revenue for the year to June 30 was up 7.4 per cent to $5.42 billion and it expects underlying profit to increase by 7 per cent in the 2018/19 financial year, following strong revenue in July.
