Virgin reports $386mill underlying loss in the 2021-2022 financial year.

[HS-TQE]

Although Bain isn't obligated to disclose those results to the public (as a private company), they've have lodged those figures with the corporate regulator on Wednesday.

Virgin recorded an underlying loss of $386.7 million in the last financial year as the airline grappled with lockdowns and later COVID isolation.

The results were significantly worse than the $76.8 million recorded in the previous corresponding period but compares favourably to Qantas’ underlying loss of $1.86 billion.

Article: Virgin records $386.7m loss in COVID-affected financial year

 

[kyle]

Although Bain isn't obligated to disclose those results to the public (as a private company), they've have lodged those figures with the corporate regulator on Wednesday.



Article: Virgin records $386.7m loss in COVID-affected financial year

Thought they would come under as a large private company, so still have to disclose to ASIC so the lodgement becomes public record.

 

[Saab34]

The result in 12 months time will be the one to watch. Seems to be in a high profit state at the moment.

 

[Scr77]

Anyone want to compare that loss to Qantas when scaled for size? Virgin‘s loss seems “better” to me.

 

[AustraliaPoochie]

Its sad to see them make such a large loss.
Hope it has been/was worth the voluntary admin/and the whole change for/(from VB) to VAver1 to VAver1.5 to VAver2.

 

[NamarrgonFlyer]

Related: Could Air NZ and Virgin Australia merge? Fraying of 'frenemies' sparks speculation

The Australian article is heavy paywalled:

https://www.theaustralian.com.au/business/dataroom/virgin-australia-holds-buyout-talks-with-air-new-zealand-rex-sources/news-story/f2dd506fb08271ab419df2f424ce5d67

 

[kyle]

Related: Could Air NZ and Virgin Australia merge? Fraying of 'frenemies' sparks speculation

The Australian article is heavy paywalled:

https://www.theaustralian.com.au/business/dataroom/virgin-australia-holds-buyout-talks-with-air-new-zealand-rex-sources/news-story/f2dd506fb08271ab419df2f424ce5d67

Something I could live with with their chilled vibes.

 

[AustraliaPoochie]

In the past, prior to when VA still flew into AKL, you look at the VA website, you can still or used to be able to book (Air)NZ flight numbers as a tag on, onto a VA flight into NZ, on the VA website, so long as the first flight is Au - an NZ city that VA flew to, this was pre covid of course.
Now that VA is not flying to NZ at the moment.
But if VA started flying to NZ again, could the tag on (Air)NZ flight earn something, under VA?
True enemies do not still have minor liasions!
If they hate/abhor each other, why do they still have "minor" codeshares?

 

[HS-TQE]

In the past, prior to when VA still flew into AKL, you look at the VA website, you can still or used to be able to book (Air)NZ flight numbers as a tag on, onto a VA flight into NZ, on the VA website, so long as the first flight is Au - an NZ city that VA flew to, this was pre covid of course.
Now that VA is not flying to NZ at the moment.
But if VA started flying to NZ again, could the tag on (Air)NZ flight earn something, under VA?
True enemies do not still have minor liasions!
If they hate/abhor each other, why do they still have "minor" codeshares?

It's called a 'interline'. Every airline does it with other airlines that are not partners either internally or externally. Generally the 'interline' partner does not earn any FF points/status with the booking airline.

Another example, UA used to (and still do) have QF interline bookings on their website. FJ also has VA and QF interline bookings.
QR also have QF interlines on their website (basically required as Oneworld partner), even though their primary Australian partner is VA.