Virgin Australia Holdings losses widen in 'extremely challenging' FY2014

Virgin Australia Holdings up 7% - financial highlights for 12 months ended 30-Jun-2014:

• Total revenue: AUD4307 million (USD3951 million), +7.1% year-on-year;
• • Domestic: AUD3157 million (USD2896 million), +8.9%;
  • International: AUD1150 million (USD1055 million), +2.6%;
• Net operating costs: AUD4636 million (USD4253 million), +12.5%;
• • Fuel: AUD1209 million (USD1109 million), +7.4%;
  • Labour: AUD1041 million (USD955.5 million), +10.1%;
• Segment EBIT (loss): (AUD167.1 million) (USD153.3 million), compared to a profit of AUD6.0 million (USD5.5 million) in p-c-p;
• • Domestic: (AUD86.9 million) (USD79.7 million), compared to a profit of AUD2.3 million (USD2.1 million) in p-c-p;
  • International: (AUD80.2 million) (USD73.6 million), compared to a profit of AUD8.3 million (USD7.6 million) in p-c-p;
• Profit (loss) before tax and finance costs: (AUD377.7 million) (USD346.5 million), compared to a loss of AUD99.0 million (USD90.8 million) in p-c-p;
• Profit (loss) before tax: (AUD484.1 million) (USD444.2 million), compared to a loss of AUD149.7 million (USD137.4 million) in p-c-p;
• Net profit (loss): (AUD355.6 million) (USD326.3 million), compared to a loss of AUD98.1 million (USD90.0 million) in p-c-p;
• Total assets: AUD4679 million (USD4293 million);
• Cash and cash equivalents: AUD783.9 million (USD719.2 million);
• Total liabilities: AUD3631 million (USD3332 million). [more - original PR]

*Based on the average conversion rate at USD1 = AUD1.0899

Virgin Australia Holdings: "The 2014 financial year was an extremely challenging year for the Virgin Australia Group and the Australian aviation industry as a whole. Given the uncertain economic environment we are unable to provide guidance for the 2015 financial year at this time and we will not be providing guidance on capacity growth going forward," John Borghetti, CEO. Source: Company statement, 29-Aug-2014.