Sparrows secures Australian contract

Airline giant Virgin Atlantic has warned it expects to nosedive into the red in 2017 with its first loss for four years as it grapples with the fall-out from the Brexit-hit pound. Craig Kreeger, chief executive of the carrier backed by Sir Richard Branson, predicted the losses as he revealed a £50 million hit in 2016 from headwinds including the plunge in the pound since the Brexit vote and the impact on consumer confidence. Despite this, Virgin Atlantic Group posted a 2 per cent rise in underlying pretax earnings to £23m for 2016. Sparrows Group has secured a three-year contract to deliver fixed-crane maintenance and lifting and rigging services for a liquefied natural gas (LNG) project in Australia.

The agreement will see Sparrows’ teams in Perth and Darwin, Australia, support activities across the Ichthys onshore LNG facility at Bladin Point.