News
Virgin Australia records US$2.4 billion loss to June 30 last year
May 4th 2021
Virgin Australia (VA) recorded a A$3.1 billion (US$2.4 billion) loss for the 12 months to June 30, 2020, The Australian newspaper's Robyn Ironside has reported, citing financial statements lodged with the Australian Securities and Investments Commission. Read More » The result was a sharp deterioration from a net loss of A$349.1 million for the 2018-2019 financial year. Revenue declined 22%, to A$1.3 billion, for the 12 months, The Australian said. VA entered voluntary administration in April last year and was eventually sold to private equity firm, Bain Capital. VA was delisted from the Australian Securities Exchange (ASX) in November.
