Alliance winces at a Virgin earnings overshoot

Some airline players have been left with red faces and Virgin Australia is facing questions of competency after the carrier's quiet admission it had miscalculated earnings.

The earnings downgrade that Virgin Australia slipped out after the market had closed on Wednesday came as a shock to the market and would probably have left at least one of its bevy of strategic shareholders miffed – and another rather self-satisfied.

At its half-year results presentation in February Virgin had forecast that it would make a profit in the second half for the first time in five years and improve on its last full-year result.


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