Things Go From Bad To Worse at Virgin Australia

Another terrible result for Virgin Australia, which has just posted a $62.3 million loss for the third quarter – much worse than the same period last year (a mere loss of $18.6 million). So far Virgin's lost $90.6 million in the nine months to the end of March while arch-rival Qantas made hundreds of millions in profit.

Ugly numbers and the reason is always the same: transformation costs. It's the transformation that never ends and never stops losing money. And yet not a murmur of job insecurity surrounds CEO John Borghetti. But for how long? Eventually someone has to take responsibility for Virgin's poor performance.

Share and Enjoy:

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>