Virgin Australia, like Qantas, is being hit by weak demand for domestic airline seats.
The airline today posted an underlying loss before tax of $3.6 million for the first quarter of the financial year, a fall of $12.1 million on the same period the year before.
The statutory loss after tax for the quarter was $34.6 million. This includes the impact of restructuring charges.
A short time ago, Virgin shares were down 2% to $0.235.
This result was impacted by subdued industry trading conditions during the quarter, particularly in the domestic market, which affected revenue, the airline said in a quarterly update.
Qantas this week also reported weaker domestic demand. It reported a 3% fall in revenue to $3.9…
Read the full article at: http://www.businessinsider.com.au/virgin-australias-losses-widen-as-domestic-demand-weakens-2016-11