Virgin Australia has joined rival Qantas in announcing a tough start to the year, with soft demand pushing the number two carrier to a first quarter loss.
Australia’s second-biggest airline has booked a net loss of $34.6 million for the three months to September 30, hurt by a weak domestic market and restructuring charges.
That compares to a net profit of $1.7 million for the same three-month period a year earlier.
The Brisbane-based carrier also booked an underlying pre-tax loss of $3.6 million for the quarter, down against an $8.5 million profit a year earlier.
“This result was impacted by subdued industry trading conditions during the quarter, particularly in the domestic market, which affected revenue,” Virgin said.
In a lower Australi…
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