Arthur D, don't be afraid. Ansett lost $2,300,000 a day in today's rates during its last year or two of operations. That's neatly $850,000,000 a year.
VA has lost $100,000,000 this last six months at a statutory level (incorporating restructuring and one off costs), with an underlying profit of $19,000,000.
VA is on a ruthless restructure which is required and will not be profitable until 2022 at least. With revenue healthy and having increased yearly, they are dealing with their cost base now. I'm sure they'll get there, once the Coronavirus is dealt with.
There have been many silly mistakes written for all to see in their reports such as continuing to pay for debt in US dollars, poor fuel hedging, millions spent on ATR and E190 leases that are no longer being operated etc...
Additionally paying one of the World's most expensive lease agreements for A330s.
All these issues aren't forever and Paul Scurrah is focusing on profit, unlike previous management it would seem.