The NZ part of the operation made 14 million dollars I think it was in profit (I will edit when I find the reference) last FY.. it was a long standing lie told to the Virgin staff over there and the rest of the company to cover up where the loss was actually occurring. My guess most of that was from poor contract/ lease management but that would have looked bad at the top, also dummy spits between board members between Air NZ and you know who.