Virgin Blue: Branson plays his Poker hand

As V Australia begins B777 long haul service to the US on Friday, parent LCC, Virgin Blue, is occupying an uncomfortable place. On all fronts its market competition is intensifying - domestically in Australia, domestically in New Zealand, between the two countries across the Tasman and, from Friday, internationally on the Pacific. On each of these, it is the underdog. That might be a role it relished at one time, but today it is merely a recipe for losses.