Out today
http://news.smh.com.au/breaking-news-business/virgin-to-partner-with-hawaiian-airlines-20110420-1doh6.html
Note that the Delta JV is also quietly coming along. It looks they have been talking with the DoT this week, with a decision expected by June.
http://www.travelweekly.com.au/news/virgin-delta-vow-to-maintain-flights
A pullback in the oil-price with the AUD remaining high would quickly erase the main reason for the latest profit downgrade.
With VBA trading at or around book value, this is shaping up as a possible great contrarian buy.
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