High Profit Expectations for Virgin Blue

Virgin Blue today said that it now estimates its reported profit after tax for 2006/07 will be in excess of A$158 million, a 40% increase on the previous corresponding period result of A$113 million.

The revised forecast follows an improvement in market conditions and the airline’s performance as a result of initiatives under its New World Carrier strategy launched last year.

As a result of the improved outlook and finalisation of its Long Haul Feasibility Plan, the airline's board has confirmed in principle to support an international wide-body operation.

The planning and implementation phase of this venture will now be expedited and subject to conditions such as regulatory approval, the granting of adequate bi-lateral access and conclusion of aircraft negotiations, the airline expects to launch international long haul operations by late 2008.

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