RPT-Virgin Australia posts H1 loss as Qantas battle rages

Fri, 28 Feb - 8:18am

(Repeats.)

SYDNEY, Feb 28 (Reuters) - Virgin Australia Holdings

VAH.AX reported a large first-half loss on Thursday as a bruising price war with rival Qantas Airways Ltd QAN.AX took a toll.

Virgin posted a pre-tax loss of A$49.7 million ($44.50 million) excluding large losses from Tigerair Australia and other one-off restructuring costs, meeting its earlier guidance. Including those costs, Virgin's statutory net loss after tax was A$83.7 million.

Virgin's statement comes a day after Qantas reported an underlying loss before tax of A$252 million as the two battle for market share and face rising fuel bills.

($1 = 1.1169 Australian dollars)

(Reporting by Jane Wardell and Lincoln Fesat)

((jane.wardell@thomsonreuters.com)(+61 2 9373 1817)(Reuters Messaging: jane.wardell.thomsonreuters.com@reuters.net))

Keywords: AUSTRALIA VIRGIN/EARNINGS

URN: 
urn:newsml:reuters.com:20140227:nL3N0LW5W0:2
Topics: 
LEN AIRL RTRS RES BACT AU TRAN AIRS CMPNY INDS AIR ASIA

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