Virgin Australia ‘back in the black’

Health & Leisure
Wednesday, 11 October 2023
Australian airline Virgin Australia has returned to profitability for the first time in 11 years, reporting statutory NPAT of A$129 million. 
 
Revenue more than doubled compared to the prior year to A$5 billion as the company responded strongly to increased customer demand following Covid-19. Underlying EBIT was A$439 million, representing a margin of 8.8 per cent.

Virgin Australia's airline business (which includes domestic, international and regional and charter flying) recorded revenue of A$4,873 million, an increase of 126 per cent due to increased flying activity. Underlying EBIT was A$362 million, a margin of 7.4 per cent.

Loyalty business Velocity recorded revenue of A$330 million, an increase of 68 per cent, with strong member growth through the year, reaching a record 11.5 million. Underlying EBIT of A$77 million there represented a margin of 23.4 per cent.

Virgin Australia ‘back in the black’

Health & Leisure
Wednesday, 11 October 2023
Australian airline Virgin Australia has returned to profitability for the first time in 11 years, reporting statutory NPAT of A$129 million. 
 
Revenue more than doubled compared to the prior year to A$5 billion as the company responded strongly to increased customer demand following Covid-19. Underlying EBIT was A$439 million, representing a margin of 8.8 per cent.

Virgin Australia's airline business (which includes domestic, international and regional and charter flying) recorded revenue of A$4,873 million, an increase of 126 per cent due to increased flying activity. Underlying EBIT was A$362 million, a margin of 7.4 per cent.

Loyalty business Velocity recorded revenue of A$330 million, an increase of 68 per cent, with strong member growth through the year, reaching a record 11.5 million. Underlying EBIT of A$77 million there represented a margin of 23.4 per cent.