Profits warning for Virgin Blue
Sir Richard Branson’s carrier Virgin Blue, widely billed as the entrepreneur’s attempt to crack the Australian airline market, has reportedly issued its second profits warning in just over a year.
According to The Guardian, the carrier admitted it had been “battered” in a price war with Jetstar, the budget airline set up by Qantas.
Shares in the airline, which is quoted on the Australian stock exchange, fell by 20 per cent yesterday.
The newspaper sees the announcement as a blow to Branson’s ambitions to launch similar ventures in India, China and Nigeria.
The Guardian states that investors are unhappy that the company’s managing director Brett Godfrey sold some five million shares a month before the profit warning.
Report by Tim Gillett, News From Abroad Ltd
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































Airbnb eyes a loyalty program but details remain under wraps
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026