Virgin returns to profit

VIRGIN Australia has climbed back into the black, with a profit of $22.8 million.

That is a $90.6 million turnaround from last year's loss.

The airline's underlying profit, before tax and excluding one-off costs, rose by $149.1 million to $82.5 million.

Revenue rose nearly 20 per cent, to just under $4 billion, and Virgin's chief executive John Borghetti says much of the improvement is due to attracting more higher value business travellers.

"Our progress in attracting higher yielding corporate and government customers has been a key driver of our improved profitability," he noted in the report.

Read more at ABC news online.


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