Virgin Australia has narrowed its group underlying loss before tax to $3.7 million, with a significant improvement in performance in the fourth quarter of financial year 2017, up $38.4 million on Q4 FY16. Group statutory loss after tax was $185.8 million – an improvement of $38.9 million on FY16, impacted by restructuring charges. The airline has a positive free cash flow of $34.3 million – an improvement of $126.4 million on FY16. Its closing total cash balance of $1,396.1 million as at 30 June – an improvement of $272.3 million on end of FY16. Net debt reduction was $839.0 million
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