iscover
Higher fuel costs and lowering demand have played havoc with airline bottom lines globally. (Rob Finlayson)
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Airline profits soured by higher fuel costs, lower demand
“It has been without doubt the most interesting period that I have seen in this market in our eight years. . . at Virgin Blue,” said CEO Brett Godfrey as the airline released its results on August 19, sparking off a reporting period which would show some major contrasts across the airline industry.
The common theme among the carriers was a strong first half of the financial year, where demand in the domestic market outstripped capacity growth, resulting in a new record for passenger traffic for the year.
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