Loss expected for Virgin Australia

Virgin Australia has warned that it is likely to post an annual underlying loss after posting an underlying pre-tax loss of $62.3 million in the three months to March, compared to the $18.6 million underlying loss posted in the year-ago period. The airline blamed subdued domestic industry trading conditions, the impact of Cyclone Debbie in March on revenues and the end of Tigerair flights between Australia and Bali in February. The airline has made an underlying loss of $20.2 million in the first nine months of the 2016/17 financial year.