sinala1
12th Dec 2006, 22:28
http://www.theaustralian.news.com.au/story/0,20867,20920497-23349,00.html
VIRGIN Blue plans to launch a long-haul international airline on US routes have been given a green light by the airline¿s board as Australia¿s second biggest carrier yesterday upgraded its net profit forecast by 40 per cent to more than $158 million.
Virgin said the revised forecast followed an improvement in market conditions and the airline’s performance as the result of initiatives launched last year.
The airline said it would now begin a planning and implementation phase of its plan to fly wide-body aircraft to the US and possibly some Asian destinations.
”Subject to conditions such as regulatory approval, the granting of adequate bilateral access and the conclusion of aircraft negotiations, the airline expects to launch international long-haul operations by late 2008,” it said.
Virgin’s moves to push ahead with its US plans will come as a blow to Singapore Airlines, which had hoped to capitalise on a takeover of Qantas by private equity firms to push its own aspirations to fly on the lucrative US route.
The federal Government cited a desire to see another Australian airline fly on the route as a major reason for denying Singapore access to the route earlier this year.
It has reiterated that view as recently as this week.
:ok:
VIRGIN Blue plans to launch a long-haul international airline on US routes have been given a green light by the airline¿s board as Australia¿s second biggest carrier yesterday upgraded its net profit forecast by 40 per cent to more than $158 million.
Virgin said the revised forecast followed an improvement in market conditions and the airline’s performance as the result of initiatives launched last year.
The airline said it would now begin a planning and implementation phase of its plan to fly wide-body aircraft to the US and possibly some Asian destinations.
”Subject to conditions such as regulatory approval, the granting of adequate bilateral access and the conclusion of aircraft negotiations, the airline expects to launch international long-haul operations by late 2008,” it said.
Virgin’s moves to push ahead with its US plans will come as a blow to Singapore Airlines, which had hoped to capitalise on a takeover of Qantas by private equity firms to push its own aspirations to fly on the lucrative US route.
The federal Government cited a desire to see another Australian airline fly on the route as a major reason for denying Singapore access to the route earlier this year.
It has reiterated that view as recently as this week.
:ok: