Belfast Telegraph

Virgin Australia airline in slump

Budget airline Virgin Australia has reported an annual loss of A$67.8m (US $7.9m), blaming higher fuel prices and a string of natural disasters for the slump.

The company's net loss for the 12 months ended on June 3 compared with a profit of A$21.3m in the same period last year. Annual revenue rose to A$3.27bn from A$2.98bn.