MIXED RESULTS FOR VIRGIN

Written on the 2 July 2014

MIXED RESULTS FOR VIRGIN

ALL three Virgin Australia (ASX: VAH) divisions welcomed a rise in passengers for May, but the company reported mixed results on its available seats.

Passenger increased 2.5 per cent for Virgin Australia domestic operations, 10.8 per cent for international operations, and 12 per cent for Tigerair Australia.

By contrast, available seats decreased marginally by 0.6 per cent on the domestic front, increased slightly by 3.6 per cent for international operations, and increased significantly by 36.6 per cent for Tigerair.

VAH has reported that operations were “impacted by weak consumer sentiment in the domestic market”.

The company says Tigerair’s statistics were also impacted by the launch of a Brisbane base and five new routes.

Despite these figures, the total network welcomed a passenger revenue increase of 3.6 per cent compared to the same period last year.

Moreover, VAH has accrued higher passenger revenue this financial year to date compared to the prior corresponding period.

Passenger revenue has increased 4.1 per cent year on year.

 


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