Virgin profit results

[RooFlyer]

I can't see that Virgin officially releases half-year profit results, but the Oz is reporting an expected record profit

Will Jayne Hrdlicka stick around and Virgin, Qantas fly high?

Vanessa Hudson last week released one of Qantas’s best ever results and Virgin is about to reveal record earnings. Things are so rosy that outgoing Virgin chief executive Jayne Hrdlicka is understood to be looking to stick around.

Not at Virgin, but at Qatar Airlines – which last week received government approval to buy a quarter of Australia’s second biggest airline.

More importantly the airline is likely to post a margin of more than 12 per cent when it reveals its half year results. [Qantas domestic was 17%]

“When you look at our EBIT (earnings before interest and tax) margin, our EBIT margin for the half, it will be very competitive,” says Hrdlicka, speaking specifically about the domestic aviation market.

 

[SYD]

They’re not listed, so no formal requirement to report publicly but maybe an IPO is in wings?

Get it out soon, off the back of good numbers post Rex downfall? I’m sure everyone will be curious to see how much detail they go into the operating cost model and profit share across QR and the wet lease arrangements for the next 5 yrs.

 

[RooFlyer]

They’re not listed, so no formal requirement to report publicly but maybe an IPO is in wings?

Last year it came out via an e-mail to staff

Virgin almost doubles full-year FY23 profit in first half of FY24

In an internal memo to Virgin staff obtained by Australian Aviation, outgoing CEO Jayne Hrdlicka said the airline had made roughly $236 million in profit off the back of $2.8 billion in revenue in the six months to December 31, and had carried nearly 45 million passengers since it left...

australianaviation.com.au

 

[SYD]

Yes, but that would have been “headline” numbers. Not the level of detail in company reports or an IPO document.

It’s in their interest to talk up the financials if there is an immanent IPO or further off market selling.