News
Virgin Australia delivers fiscal year net profit; declines to disclose profit details
October 15th 2024
Virgin Australia (VA) CEO, Jayne Hrdlicka, has announced the airline recorded its second consecutive year of after-tax profit, for the 12 months to June 30, despite higher costs, supply chain constraints and strong competition. Read More » VA said revenue increased 6.8%, to A$5.4 billion (US$3.6 billion), and underlying earnings before interest and tax (EBIT) were better by 18.2% (A$519 million). “Virgin Australia has delivered a very strong performance in fiscal year 2023-2024," Hrdlicka said. “Continued improvement in profitability means we are well-positioned to deliver great value and choice to Australian travellers. It is essential to our ability to re-invest in our business and customer experience and vigorously compete with our major competitor.” VA chief financial officer, Race Strauss, said the focus for the current year was to "build on this momentum” and continue with the airline’s transformation initiatives, which are “crucial to mitigating the impact of inflation”. Each VA employee has received 54,000 Velocity frequent flyer points in recognition of their contribution to the company’s financial performance in the 12 months.
