Vir­gin Aus­tralia narrows ful­lyear loss

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Vir­gin

Aus­tralia has posted an im­proved set of full-year fi­nan­cial re­sults, but re­mains in the red.

The air­line an­nounced a loss af­ter tax of AU$93.8 mil­lion (US$69.3m) for its 2014-15 fi­nan­cial year, an im­prove­ment of US$260m com­pared with the pre­vi­ous 12-month pe­riod. Rev­enues in­creased 10.3% to AU$4.75 bil­lion.

Vir­gin Aus­tralia said the re­cent drop in fuel prices had saved the com­pany ap­prox­i­mately AU$60m, but this was partly off­set by a AU$35m loss from the im­pact of a weaker Aus­tralian dol­lar.

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