Virgin Australia profits up

Virgin Australia has posted an A$62.5 million ($43.8 million) net profit for the six months to December 31, 2015, compared to the A$47.8 million loss reported last year. EBIT losses shrank $A8.7 million to A$30.8 million for the international operation, while the core domestic business saw an underlying EBIT profit of A$130 million in the fiscal first half, up A$60.3 million versus the previous year. Domestic unit revenue rose 7.1%, with yield increasing 9.1%. Virgin’s low-cost carrier (LCC) Tigerair Australia posted interest and taxation (EBIT) of A$13.9 million, a turnaround from losses of A$24.8 million a year earlier. Revenue rose