Virgin Australia returns best profits in 10 years
Virgin Australia has found itself with its best results in 10 years.
But the company has had a rough few years in regards to its earning capacity.
The underlying profit before tax is $102.5 million, more than double what it was last year, which compares to a loss of almost of $20 million in 2017.
Ross Greenwood speaks with Virgin Australia CEO John Borghetti to find out if he’s pleased with the result.
“I’m never satisfied,” he jokes.
“But I think they are good numbers.
“We’ve seen the highest yield in our history.”
With a $363 million debt paid down, Mr Borghetti says it indicates strong cash flow through the business.
“Our continued work on the balance sheet and the reduction of debt has been successful.
“What is particularly pleasing is passenger numbers are up, revenues up.
“I think we are lucky that we are in the market now, where we have got, in my view, the best domestic aviation structure of any country in the world.”
Listen to the full interview below