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A Tale Of Two Profits
AUTHOR: Ellis Taylor
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VB and Qantas release half year results
The contrast between Virgin Blue and Qantas airlines was no more evident than during the third week in February when both released their half yearly profit results.
Virgin Blue, which had its announcement on February 19, showed a decline in net profit, down eight per cent to $180 million, largely attributed to higher fuel costs and charges associated with the introduction of the E-Jets and the expansion of Pacific Blue into the domestic New Zealand market. This accounted for a $21. 8 million charge against the company’s profit.
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