Virgin Australia ‘On Track’ Despite Losing Another $83m

On track. The phrase was used a couple of times by Virgin Australia CEO John Borghetti while announcing an $83m half-year net loss for the airline group. But on track to where?

“We remain on track with our consistent strategy,” he said in the official press release.

Later he added: “I am confident that we are on track with our five-year Game Change Program strategy to create a business that can deliver sustainable performance for the long-term.”

Profitability did not get a mention.

The result included an $18.4m loss by Tigerair Australia, of which Virgin owns 60%, and $49.9m in business transformation expenses.

Share and Enjoy: