Virgin Australia posts $69 million third quarter loss
Virgin Australia has posted a $69.0 million loss after tax for the third quarter of the 2017 financial year, pushing its losses after tax for the nine months to March 31 to $90.6 million.
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Part of that debt reduction has come from the phased withdrawal of its Embraer 190 fleet, which has comprised a combination of leased and owned aircraft. In the trading update Virgin Australia said two of its six owned E190s had been sold subsequent to March 31, while the remaining four owned aircraft are contracted to be sold by June 30. All remaining E190s are due to be withdrawn from service by the end of the 2017 calendar year.
Virgin Australia is also rationalising its fleet through the disposal of all six ATR 72-500 and two ATR 72-600 turboprops, leaving just six ATR 72-600s in service. That will also allow the closure of the Brisbane ATR crew base.
http://australianaviation.com.au/201...-quarter-loss/