A better business

Has Virgin Australia turned the corner back to profitability?

Virgin Australia’s transformation from cheap and cheerful low-cost carrier Virgin Blue to a diversified airline group has to be arguably the biggest, quickest makeover in Australian aviation history.

It has also been a hugely expensive exercise that its major shareholders have heavily funded as Virgin burned through cash and saddled its balance sheet with debt through new widebody Airbus A330-200s, new lounges, new premium cabins, new regional and cargo operations and the acquisition of Tigerair Australia.