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Virgin Australia's losses widen

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May 18, 2017

Virgin Australia's third-quarter loss has widened, with Cyclone Debbie among the factors blamed.

Virgin Australia's third-quarter loss has widened to $69 million, with the carrier blaming factors including subdued domestic demand and Cyclone Debbie.

The net loss for the three months to March 31 was deeper than the $58.8 million in the prior corresponding period, although the company said it had cut net debt by a third since the end of 2015/16 to $627 million.

Virgin Australia also said it expects its underlying performance for the fourth quarter to improve on that in 2015/16.

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