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#1 Posted : Thursday, September 20, 2018 7:33:04 AM(UTC)

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SYDNEY, Nov. 2 (Xinhua) -- Australia's second largest carrier has posted a loss for the first quarter of the 2017 financial period due to a subdued demand derived from the domestic market.

Virgin Australia in a statement on Wednesday said that the airline had recorded a net loss of 34.6 million Australian dollars (26.45 million U.S. dollars) for the three months to September 30, which was a decline from the 1.7 million Australian dollars (1.3 million U.S. dollars) net profit it recorded in the previous corresponding period.

The Brisbane-based carrier had also booked an underlying pre-tax loss of 3.6 million Australian (2.75 million U.S. dollars) for the quarter down from the 8.5 million Australian dollars (6.5 million U.S. dollars) profit it made the year before.

The airline said its restructuring program which was unveiled in June was already on track in generating savings for the 2017 financial year as it expects to deliver a net free cash flow savings increasing to 300 million Australian dollars (229 million U.S. dollars) per annum by the end of the 2019 financial year.

"The group continues to drive structural change in its cost base through ongoing cost-saving activities and new efficiency initiatives under the better business program," the airline said in a statement.

"This includes the fleet simplification programme and organisational rightsizing."

In August, the airline posted a 225 million Australian dollars (171.76 million U.S. dollars) full-year loss, but has vowed to come back in the black in the upcoming 2017 financial year.


BAGHDAD, Feb. 16 (Xinhua) -- The death toll from a car bomb attack at a crowded area in southwestern the Iraqi capital of Baghdad on Thursday, rose to 45 and 56 others wounded, a police source told Xinhua.

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RIO DE JANEIRO, May 10 (Xinhua) -- Rio's Engenhao stadium, which will stage athletics and football at this year's Olympic Games, will be open to just 3,000 spectators during an official Rio 2016 test event starting on Saturday.

According to the Folha de S.Paulo newspaper, Engenhao staff are still working to prepare the venue for the event, which will also serve as the Iberian-American athletics championship.

Despite the track being ""practically ready"", work to construct temporary stands is yet to be completed, the newspaper said.

The three-day Iberian-American athletics championship will bring together 400 athletes, mainly from Spanish and Portuguese-speaking countries.

Located in Rio's north, the Engenhao stadium was built for the 2007 Pan American Games at a cost of 192 million US dollars.

Temporary stands will increase the stadium's capacity from 46,000 to 60,000 for the Olympics, which begin on August 5.

The stadium was closed from March 2013 to February 2015 after it was found the roof could collapse due to structural defects.


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