0959 [Dow Jones] Virgin Blue (VBA.AU) expected to announce measures to combat high fuel prices early next week after a four-week strategic review, with CEO Brett Godfrey telling The Australian newspaper that a range of options, including capacity reductions, and redeployment of aircraft onto more profitable routes, will be considered, alongside fare reviews, after JPMorgan analysts said airline faced potential collapse if jet fuel prices remain high and recommended immediate 10% hike to fares. Godfrey reportedly peeved that "overly-simplistic" report didn't consider supply-sided measures, or potential value that could be unlocked in loyalty program or value of its fleet, which suggests VBA may be looking to sell or spin-off some ancillary parts of business, as Qantas (QAN.AU) is also planning to do with its frequent flyer program by the end of this year. (WEL)