Virgin Australia posts $236m profit as revenues climb

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Virgin Australia has continued its upward trend posting revenues of $2.8 billion for the six months to December 31, up from $2.5 billion in the same period last year.

The revenue boost resulted in a profit of $236 million for the carrier owned by Bain Capital.

“The second half of the financial year will be tough with aggressive market pricing and strong capacity growth, and we need to stay focused on the execution of our plans,” Virgin’s outgoing chief executive Jayne Hrdlicka said in a company note.

Performance issues have delayed Bain’s plans to float the resurrected carrier on the ASX, with Hrdlicka’s exit seen as yet another challenge for launching an IPO at a later date.

Last year’s expected IPO negotiations was cancelled abruptly without explanation.