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Virgin Australia Holdings Ltd (VAH.AX)

VAH.AX on Australia Stock Exchange

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26 May 2017
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Latest Key Developments (Source: Significant Developments)

ACCC grants authorisation to fly-in fly-out airline alliance
Wednesday, 17 May 2017 09:54pm EDT 

May 18 (Reuters) - The Australian Competition and Consumer Commission::Granted authorisation to Charter Alliance Agreement between Virgin Australia Airlines , Virgin Australia Regional Airlines, and Alliance Aviation Services.Only significant operational overlap between VARA and Alliance Airlines is in provision of charter services in Western Australia.Has concluded that there are a number of factors that mitigate the risk to competition.  Full Article

Virgin Australia Q3 statutory loss after tax $69 mln
Wednesday, 17 May 2017 07:37pm EDT 

May 18 (Reuters) - Virgin Australia Holdings Ltd ::Underlying loss before tax of $62.3 million and a statutory loss after tax of $69.0 million for Q3 of 2017.Currently expects its underlying performance for Q4 of 2017 financial year to improve on Q4 of 2016 financial year.Expected that adverse cost impact of EMBRAER 190 and ATR fleet simplification measures will be reduced over next 12 months.Qtrly group revenue load factor 78.8% versus 78.2% a year ago.Qtrly group available seat kilometres 11,181 million versus 11,651 million.On track to deliver net free cash flow savings increasing to $300 million per annum from better business program by end of FY19.Qtrly group revenue passenger kilometres 8,808 million versus 9,108 million.  Full Article

Alliance Aviation Services to increase regional Queensland and wet lease services
Wednesday, 10 May 2017 08:36pm EDT 

May 11 (Reuters) - Alliance Aviation Services Ltd :To increase regional queensland and wet lease services.Expansion of its regional Queensland operations following execution of a heads of agreement with Virgin Australia.In aggregate, additional services will increase company's fleet by 11 percent and total flying activity by up to 45 percent.Alliance airlines will also continue to operate all Virgin Australia Services on Brisbane - Emerald route.  Full Article

Virgin Australia updates on ACCC interim approval of proposed alliance with HNA
Monday, 20 Mar 2017 02:20am EDT 

Virgin Australia Holdings Ltd : ACCC interim approval of proposed alliance with HNA . Virgin Australia Group will announce further detail on route, on sale date and when flights will commence soon .ACCC is expected to make its final ruling in May/June 2017.  Full Article

Australian Competition & Consumer Commission says Jetstar and Virgin to pay penalties for breaches of Australian Consumer Law
Tuesday, 7 Mar 2017 01:26am EST 

Australian Competition & Consumer Commission- : Federal court ordered Jetstar Airways to pay $545,000 penalty and Virgin Australia Airlines to pay $200,000 penalty . Penalty for breaches of the Australian Consumer Law .Jetstar and Virgin’s ‘drip pricing’ conduct drew consumers into online purchase process with headline price, but failed to disclose additional charges.  Full Article

Virgin Australia announces flights to Hong Kong
Thursday, 16 Feb 2017 04:51pm EST 

Virgin Australia Holdings Ltd : Flights to Hong Kong and landmark alliance . Virgin Australia to operate from Australia to Hong Kong in first stage of proposed alliance . Virgin Australia announces flights to Hong Kong and landmark alliance agreement with HNA Aviation, Hong Kong Airlines and HK Express . As part of first stage of alliance, Virgin Australia plans to introduce flights between Australia and Hong Kong in mid-2017 . "Airlines are seeking interim authorisation of proposed alliance to enable introduction of these services" ."virgin Australia also plans to introduce direct flights between Australia and Mainland China in further stages of agreement".  Full Article

Virgin Australia says unable to provide guidance at this time
Thursday, 16 Feb 2017 04:51pm EST 

Virgin Australia Holdings Ltd :"Due to uncertainty in external market conditions, we are unable to provide further guidance at this time".  Full Article

Virgin Australia posts statutory loss after tax of $36.1 mln
Thursday, 16 Feb 2017 04:50pm EST 

Virgin Australia Holdings Ltd : HY statutory LAT attributable $36.1 million versus profit of $45.7 million . No dividends were declared or paid during half-year ended 31 december 2016 .HY revenue and income $2.63 billion versus $2.66 billion.  Full Article

Virgin Australia reports Q2 underlying profit before tax of $45.9 mln
Thursday, 2 Feb 2017 05:00pm EST 

Virgin Australia Holdings Ltd : Underlying profit before tax of $45.9 million for q2 of 2017 financial year . Expects virgin australia domestic business to generate underlying earnings before interest and tax margin of between 3 and 6 % for 2017 FY . Group's statutory profit after tax for q2 was $13.1 million . Qtrly group revenue load factor 81.3% versus 80.3% .Q2 group revenue passengers 6.3 million, up 3.2 %.  Full Article

Virgin Australia Holdings says Q1 group's statutory loss after tax for quarter $34.6 million
Tuesday, 1 Nov 2016 06:11pm EDT 

Virgin Australia Holdings Ltd : Q1 group's statutory loss after tax for quarter was $34.6 million . Group expects to deliver net free cash flow savings increasing to $300 million per annum by end of 2019 financial year . For quarter, group's total revenue passengers increased by 4.8 per cent . Cost per available seat kilometre for quarter decreased compared to prior corresponding period . Qtrly total available seat kilometres declined 0.5 per cent and total sectors flown declined 2.3 per cent on prior corresponding period . Qtrly revenue load factor improved by 2.0 points on prior corresponding period . Group has accelerated hedging program, with approximately 90 per cent of its expected fuel consumption hedged for 2017 financial year .Underlying loss before tax of $3.6 million for q1 of 2017 financial year, a decline of $12.1 million on prior corresponding period.  Full Article

More From Around the Web

Virgin Australia unveils Australia-Hong Kong flights, opening China route

SYDNEY, March 21 Virgin Australia Holdings Ltd , the country's No. 2 airline, said it would run five return flights a week between the city of Melbourne and Hong Kong, making good on previously disclosed plans to tap the lucrative Chinese travel market.