VB posts big loss...
Thread Starter
VB posts big loss...
A day after Qantas more than doubled profits to $249 million, the airline formerly known as Virgin Blue reported a full-year loss of $68 million for the year to June, compared with a $21 million profit a year earlier.
Join Date: Mar 2011
Location: Oz
Posts: 71
Likes: 0
Received 0 Likes
on
0 Posts
A $30-80 million loss has been expected since about April, so no surprise. July's figures were positive and I expect FY11/12 should be kind unless some disaster strikes again.
Althought, the end of the world isn't expected until the end of 2012, so that will affect the following year's annual results.
Althought, the end of the world isn't expected until the end of 2012, so that will affect the following year's annual results.
Join Date: Aug 2004
Location: Wherever the job takes me...
Posts: 318
Likes: 0
Received 0 Likes
on
0 Posts
...What PaperBoy said. Whilst it's not great news, again it comes as no surprise. However, I take heart from the fact that we're in very good hands under JB's stewardship, & I'm confident about the future of VA once we get through the other side of this difficult time. Of course, if it was still the previous management regime in charge, I wouldn't be as optimistic. I, for one, am very glad that's not the case.
Join Date: Aug 2006
Location: A cheap seat at the front of a 777 :-)
Posts: 203
Likes: 0
Received 0 Likes
on
0 Posts
$68 million loss is probably now well on the way to being wiped out with the relaunch of the Velocity Frequent Flyer program.
A lot of very frequent QF PAX have defected today to VA, enticed by the status match on offer, also rumor is that VA has managed to grab accounts from QF of some very big spenders, BHP is one of these, there are about 8 others (as of today) of similar size moving to VA.
JB's game change is now showing positive results.
Question is will the J class cabin on the 737's be big enough for all this extra demand?
More A330's on the triangle maybe........?
A lot of very frequent QF PAX have defected today to VA, enticed by the status match on offer, also rumor is that VA has managed to grab accounts from QF of some very big spenders, BHP is one of these, there are about 8 others (as of today) of similar size moving to VA.
JB's game change is now showing positive results.
Question is will the J class cabin on the 737's be big enough for all this extra demand?
More A330's on the triangle maybe........?
Thread Starter
[QUOTE][/QUOTEQantas Leads in Domestic Airline Satisfaction
Roy Morgan Research
A total of 84% of domestic Qantas customers were ‘very’ or ‘fairly’ satisfied for the 12 months to June 2011, with Virgin Australia slightly behind at 80%, according to the latest Roy Morgan Airline Customer Satisfaction Report.
Customer satisfaction for Qantaslink was 81%, with Regional Express at 76%, just above the industry average of 75%. Jetstar’s satisfaction remained steady at 68%, while Tiger continued to decline to an all time low of 43%.
Satisfaction with Domestic Airlines used in last 12 months
Source: Roy Morgan Single Source, July 2009 – June 2011. Total using domestic airline in last 12 months n=7,099. N.B. ‘Total Industry’ average also includes other domestic airlines not shown. “% satisfied” is the proportion of all customers who are “Very” or “Fairly” satisfied with that Airline (on a five point scale).
Jane Ianniello, Roy Morgan Research International Director of Tourism, Travel & Leisure, says:
“Qantas now has a clear lead over Virgin Australia in terms of domestic airline satisfaction. Both leisure and business customers are giving Qantas a higher satisfaction rating.
“It is interesting to note the continuing decline in the satisfaction for Tiger Airways even before the suspension of Tiger Airways flights in July.”
Roy Morgan Research
A total of 84% of domestic Qantas customers were ‘very’ or ‘fairly’ satisfied for the 12 months to June 2011, with Virgin Australia slightly behind at 80%, according to the latest Roy Morgan Airline Customer Satisfaction Report.
Customer satisfaction for Qantaslink was 81%, with Regional Express at 76%, just above the industry average of 75%. Jetstar’s satisfaction remained steady at 68%, while Tiger continued to decline to an all time low of 43%.
Satisfaction with Domestic Airlines used in last 12 months
Source: Roy Morgan Single Source, July 2009 – June 2011. Total using domestic airline in last 12 months n=7,099. N.B. ‘Total Industry’ average also includes other domestic airlines not shown. “% satisfied” is the proportion of all customers who are “Very” or “Fairly” satisfied with that Airline (on a five point scale).
Jane Ianniello, Roy Morgan Research International Director of Tourism, Travel & Leisure, says:
“Qantas now has a clear lead over Virgin Australia in terms of domestic airline satisfaction. Both leisure and business customers are giving Qantas a higher satisfaction rating.
“It is interesting to note the continuing decline in the satisfaction for Tiger Airways even before the suspension of Tiger Airways flights in July.”
Join Date: Nov 1999
Location: The Land Downunder
Posts: 765
Likes: 0
Received 0 Likes
on
0 Posts
So add this to the fact that Air New Zealand has also just posted a much bigger than expected LOSS and it would seem the marriage between VB and Air NZ is a marriage NOT made in heaven.
Thread Starter
Air NZ
Air NZ says in full year to June results released this morning, the 12 months was split between brilliant and disastrous - with a $112 million profit booked in the fist six months, and a $37 million losses posted in the second.
“Natural disasters and sustained high fuel prices dramatically altered what was shaping to be a very positive full year result,” chairman John Palmer says.
Briefing notes supplied with the results describe the turbulence in the international financial environment as "concerning".
The high dollar appears to have also caused the airline to book a $95 million net loss from foreign exchange hedging.
Gee Fyfe and AJ must be using the same line.....
Air NZ says in full year to June results released this morning, the 12 months was split between brilliant and disastrous - with a $112 million profit booked in the fist six months, and a $37 million losses posted in the second.
“Natural disasters and sustained high fuel prices dramatically altered what was shaping to be a very positive full year result,” chairman John Palmer says.
Chief executive Rob Fyfe says long-haul routes have been responsible for weekly losses exceeding $1 million since January, partly due to the high New Zealand dollar.
“International markets remain volatile and this has an impact on the demand for New Zealand as a destination,” Mr Fyfe says.
“International markets remain volatile and this has an impact on the demand for New Zealand as a destination,” Mr Fyfe says.
The high dollar appears to have also caused the airline to book a $95 million net loss from foreign exchange hedging.
Gee Fyfe and AJ must be using the same line.....
Join Date: Jan 2010
Location: Brisbane, Australia
Age: 39
Posts: 85
Likes: 0
Received 2 Likes
on
1 Post
And don't forget the floods, cyclone, earthquake and res system meltdown cost the company $90 million.
Join Date: Jul 2008
Location: Skating away on the thin ice of a new day.
Posts: 1,116
Received 13 Likes
on
8 Posts
VA's loss was well flagged some time ago in the forecasts. Ben Sandilands has a good take on the comparison between VA's Int and QF's Int results. More a shot at the way QF presents its accounts than anything, but interesting anyway.
JB had to change the direction of the Virgin group , they were getting hammered by Tiger and JQ at one end and could not compete with QF at the premium end. All power to him for having a go at taking them up market. I hope all goes well for the VA people. I think JB may show what can be done when everyone is pulling at one end of the rope not a continuous tug of war with your staff.
JB had to change the direction of the Virgin group , they were getting hammered by Tiger and JQ at one end and could not compete with QF at the premium end. All power to him for having a go at taking them up market. I hope all goes well for the VA people. I think JB may show what can be done when everyone is pulling at one end of the rope not a continuous tug of war with your staff.
Whispering "T" Jet
Leave it to the big boys? What Jetstar? Or Jetstar Asia?
Best "Friday Joke" for a long while, I shall be smiling all day....thankyou
Join Date: Nov 2000
Posts: 369
Likes: 0
Received 0 Likes
on
0 Posts
Yes QF were also affected by the same, so if you take those factors out QF would have made more profit but would still be sending more jobs out of Australia and Virgin would be in the black by a small amount and may have increased the number of jobs they plan to add in Australia.
Join Date: Jan 2010
Location: Brisbane, Australia
Age: 39
Posts: 85
Likes: 0
Received 2 Likes
on
1 Post
Yes QF were also affected by the same, so if you take those factors out QF would have made more profit but would still be sending more jobs out of Australia and Virgin would be in the black by a small amount and may have increased the number of jobs they plan to add in Australia.
TID Edit
I just earned myself a banning
