The company also wrote down the value of its international business by $120 million.
Mr Boeghetti said the accounting adjustments were non-cash and did not affect the fundamentals of Virgins underlying business.
We are confident in the performance of the Groups underlying business and that long-term benefits from our growth plans will be delivered, he said.
Mr Borghetti said the company expected to be profitable at both an underlying and statutory level in the current half-year, even with fuel costs set to be $85 million higher.
Virgins fleet simplification and other business restructuring costs ran at $148.5 million in 2018, meaning the company would have ran at a net loss even without the accounting impairments.
Domestic growth
Virgin said i…
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