Virgin Australia posts net loss of $67.8 million for full year ended 30 June 2011

Virgin Australia group of airlines (Virgin Blue Holdings Limited and its controlled entities) reported a Net Result After Tax of $67.8 million loss. The Net Result before Tax (excluding ineffective hedges) of ($66.6 million) is within the guidance of ($30 million) to ($80 million) announced to the market on 23 March 2011. This result includes $36 million in unrealised foreign exchange loss due to the rising Australian Dollar. Total revenue increased 9.7% to $3.27 billion, on prior corresponding period. VBA reported strong cash balance of $731 million, with an additional $70 million sale & leaseback transaction post the closing date and reported strong cost performance with underlying CASK growth (excl. fuel) below inflation. International network profitable, EBIT of $22.4 million.