Virgin Australia releases financial result for half year ended 31 December 2011

Virgin Australia reported a statutory net profit after tax of $51.8m an improvement of 118% on the prior corresponding period. Underlying net profit before tax amounted to $96.1m, which is a 34.4% improvement. Virgin Australia reported a total revenue increase of 18% to $2.0bn, liquidity improved significantly with $506m of unrestricted cash, and $851m total cash balance.