Virgin Australia posted a $23 million full-year profit and unveiled plans to expand capacity in the domestic market by as much as 9% over the coming months.
The positive result from Virgin was in stark contrast to Qantas which announced a $244 million full-year loss a few days ago.
Virgin said a key factor in its return to profitability from a $68 million loss previously had been its ability to snare more corporate and business flyers.
Virgin’s revenue rose 20% to $3.9 billion and it announced that it will target productivity gains of $400 million over the next three years.
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