Virgin Australia cuts 750 jobs and restructures leadership following seventh straight annual loss

Virgin Australia has announced it is cutting 750 jobs as part of a major restructure which includes shuffling its leadership team as well as reviewing routes. The news comes as the carrier posted its seventh straight annual loss. In its latest financial filing, Virgin Australia, which is backed by China’s HNA Group and Nanshan Group, reported a statutory loss of A$315.4 million (approximately $213.2 million) in the full year of 2019 – an improvement on its A$653.3 million loss last year. The cuts will take place in Virgin’s corporate and head office roles, representing, which the Financial Times reports, about