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Virgin hurting from soft market conditions

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February 17, 2017

Virgin Australia has swung to a net loss of $36.1 million for the six months to December 31.

Virgin Australia has swung to a net loss of $36.1 million for the six months to December 31, hurt by weak passenger demand and restructuring charges.

That compares to a net profit of $45.7 million over the same period a year earlier.

Underlying profit before tax dropped sharply to $42.3 million, from $81.5 million a year ago, with revenue down 0.9 per cent to $2.63 billion from $2.65 billion, and no dividend declared.

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