Aug 28 (Reuters) - Virgin Australia Holdings Ltd (VAH) :
- FY GROUP UNDERLYING LOSS BEFORE TAX $71.2 MILLION
- EXPECTS CAPACITY TO BE FURTHER REDUCED IN H1 FY20
- ANTICIPATES FURTHER FY20 FUEL AND FOREIGN EXCHANGE HEADWINDS OF APPROXIMATELY $100.0 MILLION WHEN COMPARED TO FY19
- REDUCTION OF 750 ROLES FROM WORKFORCE
- GROUP HAS HEDGED IN EXCESS OF 90 PER CENT OF ITS FORECAST FY20 FUEL CONSUMPTION AND HAS EXTENDED HEDGING INTO FY21
- TARGETING REDUCTION OF 750 CORPORATE AND HEAD OFFICE ROLES, REPRESENTING $75.0 MILLION IN COST SAVINGS BY FY20 END
- ALL CURRENT SUPPLIER AGREEMENTS WILL BE REVIEWED
- AGREEMENTS UNDER REVIEW INCLUDE WITH AIRCRAFT LESSORS, AIRPORTS AND OTHER SUPPLIERS; TARGETING COST SAVINGS OF AT LEAST $50 MILLION
- START OF FY20 HAS SEEN A CONTINUATION OF SOFTER CONDITIONS EXPERIENCED IN H2 FY19
- BENEFITS OF BUSINESS IMPROVEMENT INITIATIVES WILL BEGIN TO BE REALISED DURING FY20
- REMAINS COMMITTED TO LONG-TERM GROWTH OF VELOCITY BUSINESS AND INTENDS TO REMAIN MAJORITY SHAREHOLDER IN VELOCITY
- IN PROCESS OF REVIEW OF ITS FLEET, NETWORK AND CAPACITY
- INTENDS TO FURTHER REDUCE FLYING ACROSS SHORT-HAUL INTERNATIONAL AND DOMESTIC NETWORK; EXPECTS H1 FY20 CAPACITY GROWTH TO BE NEGATIVE
- Forums
- ASX - By Stock
- VAH
- News: VAH Virgin Australia Holdings Posts FY Group Underlying Loss Before Tax Of $71.2 Million
News: VAH Virgin Australia Holdings Posts FY Group Underlying Loss Before Tax Of $71.2 Million
-
- There are more pages in this discussion • 8 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add VAH (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
CC9
CHARIOT CORPORATION LTD
MD - Shanthar Pathmanathan, Geologist - David Trabert
MD - Shanthar Pathmanathan
Geologist - David Trabert
SPONSORED BY The Market Online