Storm and then calm as Virgin Australia posts loss

The re-branded Virgin Australia ended its final year as a middle-market carrier AUD66.6 million (USD69.3 million) in the red, a net pre-tax loss it attributes to one-off events that particularly hit the leisure market and which underscores its strategy to move into the more resilient corporate market as a full-service carrier. Under pressure to justify the change, Virgin is showing early indicators of success with more approaches lined up, including what is arguably the boldest move the industry has seen to capture passengers from competitors.