Virgin Australias profits are being squeezed by a fall in the number of people flying within Australia.
Australias second largest airline reported a drop of $27.1 million to $45.9 million in underlying profit before tax for the second quarter of the financial year, compared to the same period last year.
Statutory profit after tax for the three months to December was $13.1 million, including overheads from ongoing restructuring of the business.
The company says it now expects the Virgin Australia domestic business to generate an underlying earnings before interest and tax margin of between 3% and 6% for the full financial year.
The group continues to actively manage capacity in response to subdued trading cond…
Read the full article at: http://www.businessinsider.com.au/virgin-australia-profits-are-suffering-from-a-weak-domestic-market-2017-2