Virgin Australia narrows fullyear loss
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.