Virgin says domestic travel is picking up

August 10, 2017

Virgin Australia has reported a significant fall in earnings from its domestic business.

Virgin Australia has suffered a $220.3 million loss for 2016/17 as a weak domestic market weighed on improved cost management and improvements in the international business.

Virgin's revenue for the year to June 30, 2017, was up 0.5 per cent to $5.05 billion while the underlying loss before tax was $3.7 million as what the company called "subdued domestic trading conditions" affected full-year performance despite an improvement in the fourth quarter.

No final dividend was declared but Virgin said improved performance in the fourth quarter of 2016/17 was expected to continue into the first quarter of the new financial year.

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