On the up

Virgin ‘Elevates’ to top of the pile

Virgin Australia has opened the door to a significant recapitalisation by foreign airlines or investors such as Etihad Airways, with sweeping changes to its ownership structure.

The announcement came with a half-year profit statement that heralded the tell-ing news that the airline had more than doubled its profits to $52 million, eclipsing rival Qantas for the first time.