Transport for NSW Annual Report 2020-21 Volume 1. Annual Report 2019-2020 [website] | [PDF 14 MB] Annual Report 2018-2019. TRAVEL NEWS, JOBS & EVENTS! Meetings, Incentives, Conferencing, Exhibitions (MICE), Destination NaJomtien BanAmphur BangSaray *NEW*, *NEW*, Affordable Luxury in Thailand by Centara Hotels, Rising Above the Oridinary by Conrad Bangkok, 5 reasons why traditional travel protection is obsolete, 5 reasons why Cross Hotels & Resorts is APACs hotel operator of choice, Wake up at the magnificent Sal Salis Ningaloo Reef, MICE (Meetings, Incentives, Conferencing, Exhibitions). I would like to take this opportunity to thank all of our team members for their passion and dedication to delivering the Game Change Program strategy. Secured lenders and aircraft financiers are owed $2,284 million; Unsecured bondholders are owed $1,988 million; Aircraft lessors are owed $1,884 million; Employees are owed $451 million (in the event of liquidation); and. 2020 - 2021 . Over the next three years, we will continue to execute initiatives designed to improve liquidity, reduce debt and maintain a strong cash balance. IAG is the largest general insurance company in Australia and New Zealand. This includes increasing our target of Corporate and Government domestic revenue mix to around 30 per cent by 30 June 2017; increasing interline and codeshare revenue through strengthening and expansion of alliance partnerships and optimising our new PROS revenue management system to drive incremental revenue opportunities. The proposed transaction with Affinity Equity Partners and Velocity Frequent Flyer will improve the liquidity and gearing position of the Virgin Australia Group even further, providing additional flexibility and resilience as we execute on Virgin Vision 2017. An assessment of the competitive landscape and market shares for major companies. The airline chief executive said she is really positive about the current state of planned borders reopening and confirmed Virgins intentions to continue snatching market share from its biggest rival, Qantas. Set a new standard in customer experience. Annual Report FY2020-21(9MB PDF) . Virgin Australia also re-entered the Australian domestic budget market through the acquisition of a 60 per cent interest in Tigerair Australia at the beginning of the 2014 Financial Year. Be part of our community of seasoned travel and hospitality industry professionals from all over the world. 2017 Form 10-K 2.9 MB. The AU$3.7 billion profit for 12 months ended 30 June 2021 was an unexpected twist in the previous year's AU$3 billion loss tale. Get a full view of Virgin Australia Holdings Pty Limited's financials, including Profit and Loss Account (Revenue, Interest, Profit and Loss, and Audit Fees) and Balance Sheet (Current Assets, Non-Current Assets, Current Liabilities, Non-Current Liabilities, Shareholders' Equity), as well as Number of Employees, Number of Share on Issue, Market Under the Game Change Program, Velocity Frequent Flyer has gone from strength to strength, expanding its global network to over 460 destinations and offering competitive earn and redemption rates and unique member rewards. The Game Change Program essentially created an indifference15 and helped to dislodge those travellers loyal to the incumbent airline group, so that they were happy to travel with either of us, whilst building a Virgin Australia loyalty base. Annual Report 2016-2017. Virgin Australia lost AUD3.1 billion last year and remains saddled with AUD1.2 billion of debt it carried into administration, according to filings with the corporate regulator. Our insurance brands include NRMA, CGU, SGIO, SGIC and WFI. Financial performance for the 2014 Financial Year was impacted by the confluence of excess market capacity, weak consumer sentiment, continued economic uncertainty and the $51.6 million cost of the carbon tax. Follow the topics, people and companies that matter to you. The Group offers a variety of aviation products and services to all key segments of the Australian aviation market, including corporate, government . Principal activities Podcast: How Little Wings helps ill children in regional towns, Lockheed showcases battle management system, Airservices tags Frequentis for its aviation rescue fire fighting service, Australian businesses to supply parts for Apaches, BAE unveils Loyal Wingman for helicopters drone, Rex says share rise behind $16.5m half-year loss, Game on! Bains a disgrace of an owner, & my empathy is with the hard working staff at the coal face. Virgin has been a worsening financial investment. The Groups cost program delivered a significant reduction in cost growth over the second half of the 2014 Financial Year, with growth in Cost per Available Seat Kilometre (Underlying CASK)9 including fuel and foreign exchange halving to approximately 2 per cent a strong performance given we had lower capacity growth and we continue to invest in product and service initiatives for our customers. Skywest Airlines Pte Ltd has been rebranded Virgin Australia Regional Airlines. However, Omicron and the changing condition of COVID-19 remain a source of concern. The loss before taxes excludes approximately AU$600 million in impairment costs, redundancies, fines, and foreign exchange losses. PDF 8.03 MB. Virgin Australia; Air New Zealand; Star Alliance; More Flying with us. Corporate governance. I would like to thank all of our team members for their passion and dedication in delivering the strategy, Mr Borghetti said. Files available for download (1) English (PDF, 10 MB) Document 11 November 2022 Our people, and their willingness to go above and beyond for our customers and our shareholders, remains the Virgin Australia Groups core differentiator in the market. NZX Appendix 1 & 7. We commit to working together to build a . It is understood the airline will look to cut costs even further this financial year, although this will not involve headcount reductions. You can use your existing password to login, or if you can't remember it, you can reset it using the link provided here. These conditions create uncertainty in the timing of recovery of the airline and travel sector and the demand for the groups services. The airline reported consecutive annual losses for the last seven years, before the beginning of travel disruptions caused by the COVID-19 pandemic. Our 2021 performance highlights. //]]> Singapore Airlines' accounts were dragged down last year by incurring a S$116 million loss. I am appalled that Oz taxpayers monies have allowed the company, now fully overseas owned, to rise from the depths of financial ruin to the tune of a AU$3.7B after tax profit when pre Bain owners and shareholders et al most likely are hanging out at meals on meals or similar. To use individual functions (e.g., mark statistics as favourites, set Virgin Australia recorded a $3.1 billion loss during its last financial year before it was taken out of administration. A paid subscription is required for full access. A Virgin Australia spokeswoman said the airline is confident it has a strong and conservative balance sheet from which to build future growth and was delivering on its transformation strategy to become a mid-market carrier. List of Shareholdings of Volkswagen Financial Services AG and Volkswagen Financial Services Group as of 31.12.2019. Documents published with the Australian Securities and Investment Commission on Tuesday revealed the business had just $740 million of cash to service over $5 billion of debt that was due within the next year. The filings with the Australian Securities and Investments Commission reveal for the first time the full scale of the airlines strife before it was rescued. Given the uncertain economic environment we are unable to provide guidance for the 2015 Financial Year at this time and we will not be providing guidance on capacity growth going forward. 2021 Annual Report Download PDF 2021 Annual General Meeting 2021 Annual General Meeting (Notice of Meeting) Download PDF 2021 Full Year Results Announcement Download PDF 2021 Full Year Results Presentation Download PDF 2021 Full Year Results Recording 2021 Half Year Results Announcement Download PDF 2021 Half Year Results Presentation Download PDF case letter, and one special character. Virgin Money Holdings (UK): Q3 2016 Trading Update . which masked poor operating conditions and financial stress that continued in the 2021 period as repeat virus waves crippled recovery efforts. [CDATA[ Annual Report 2017-2018. Annual Reports. Get unlimited news articles and more by creating a free account, Passwords must have at least 10 characters, one number, one lower and Expenses increased as losses mounted A fundamental problem arises when expenses increase in the face of continuing losses. Virgin Atlantic ended the year with a robust cash position of 580 million, delivered by raising 670 million new capital, including 400 million shareholder investment completed in December 2021; maintaining 300 million annual cost savings; capitalising on pent up demand following the opening of the transatlantic corridor; and delivering record Corporate Overview. Velocity has achieved a range of industry accolades, including recognition in five categories at the 2014 Freddie Awards, the highest achievement of any airline program at these global awards. 2019 Annual results (22 August 2019) 2019 Annual results Media Release. Therefore, our Virgin Vision to 2017 is to become Australias favourite airline group. Annual Report to shareholders . For the year ended June 2022, on time performance over all routes operated by participating airlines (Jetstar, Qantas, QantasLink, Rex Airlines, Virgin Australia and Virgin Australia Regional Airlines) averaged 76.8 per cent for on time arrivals and 76.1 per cent for on time departures. Maybe they want to offload this dead duck fairly soon? Going forward, we no longer want to create an indifference for this group, we want to convert more of them to our loyalty base. Annual Report to shareholders . The airlines CEO stated that she is very bullish about the current stage of scheduled border reopening and confirmed Virgins ambition to continue stealing market share from its main rival, Qantas. Funding Virgin Group has made 57 investments. A Virgin Australia 737-8FE lands at Melbourne YMML. Annual Report 2021. Strong momentum in increasing share of Corporate and Government market segment now represents more than 25% of domestic revenue, up from around 10% in FY10 The AU$3.7 billion profit for the fiscal year ended June 30 2021, was an unexpected twist in the story of the previous years AU$3 billion loss. Annual Report 2014-15 Annual Report 2013-14 Annual Report 2012-13 2006 Annual Report and 2007 Proxy Statement 4.8 MB. A few years ago, many travellers were wedded to our competitor because they had no other viable alternative. Virgin Group has made 5 diversity investments. and executives subscribed to our daily newsletter. This next period for us is about maximising the Groups potential, by extracting value from the business and generating sustainable profitability, Mr Borghetti said. 2019 Annual results Analyst Webcast. [Online]. Wizz Air Hungary Ltd. Annual Report 2014-2015. Suncorp Group Limited and its controlled entities are required to lodge financial statements with the Australian Securities and Investments Commission (ASIC). You don't have credit card details available. Company name: Virgin Australia Holdings Ltd: Status: Active: End of fiscal year: 30 June 2018: ISIN: AU000000VAH4: Auditor: KPMG: Year established: 2002: Company sector name: Industrials: . Virgin Australia acquired a 60 per cent interest in Tigerair Australia on 8 July 2013, with our share of equity-accounted losses for the 2014 Financial Year amounting to $46.1 million. Since the airline relaunched one year ago, Virgin has announced plans to increase its 737 fleet by over 45 per cent from 58 to 84 Boeing workhorse jets. The $3.1 billion loss was the ninth negative return in a row. Underlying loss is a non-statutory measure, defined on page 10. The financial statements for Suncorp's key subsidiaries DO NOT present a financial picture of the Group as a whole. Annual Report to shareholders. Get unlimited news articles and more by creating a free account, Passwords must have at least 10 characters, one number, one lower and Furthermore, in the next few weeks, we will make a major announcement on our premium product offering. 2019 Annual results Analyst Presentation. It comes as a surprise to investors and aviation enthusiasts. I am pleased to report that we have now increased our percentage of domestic revenue from the Corporate and Government market segment to more than 25 per cent, far exceeding our original strategic goal of 20 per cent. Interline and codeshare revenue increased 10.25% on FY13 Virgin Australia Holdings Limited (ASX:VAH) - Shares, Dividends & News - Intelligent Investor Virgin Australia Holdings Limited (ASX: VAH) - Share Price and Research DELISTED - Current share price for VAH : $0.086 Overview Research Company Financials Company Announcements Dividends Change in Directors' Interest VAH General Information + In the 2015 Financial Year, we will launch a Freight division, which will leverage off our current Regular Passenger Transport and Charter capability. Follow VAH Profile Links News About Price Chart Annual Reports Dividends VAH Information Share Price: 0.00 24hr Change: 0.00 24hr Change %: 0.00% Market Cap: 726.29M You only have access to basic statistics. Virgin Australia (VA, Brisbane International) is expected to shortly announce the three or four financial institutions signed on as underwriters in an initial public offering (IPO) that could be as soon as mid-2023.There are also reports that the airline is looking at taking on an undisclosed amount of debt prior to any IPO. 2007 Annual Report and 2008 Proxy Statement 2.4 MB. Our 2021 Annual Report was released on 27 August 2021 which can be viewed below. ANNUAL FINANCIAL REPORT 2015 1 Directors' report The directors present their report together with the consolidated financial statements of the Group comprising Virgin Australia Holdings Limited (VAH) (the Company) and its subsidiaries, and the Group's interests in associates and joint ventures, for the financial year ended 30 June 2015 The airline called in administrators from Deloitte in April 2020. Included in this was a halving of labour and staff-related costs to $530 million after Virgin axed budget offshoot Tigerair Australia and about 3000 staff with its relaunch last year. We are committed to working with Tiger Airways Holdings Limited and Tigerair Australia to ensure the airline has the right network footprint, service standards and cost leadership, to deliver improved financial performance. However, this years profit comes largely off the back of the $4.4 billion in creditors claims that were extinguished by its administrators, following the sale of the airline to US private equity firm Bain Capital in November 2020. $200 million in second half FY14. As a Premium user you get access to the detailed source references and background information about this statistic. In just a few years, the business has grown from offering around 150 destinations to more than 460 destinations and increased interline and codeshare traffic by more than 300 per cent. Any of us that worked there know where the problem was and it was in an Armani suit. 17.08.2021 - 01:23 UTC Virgin Australia (VA, Brisbane Int'l) has confirmed it has begun temporarily standing down a varying number of frontline employees until the end of October following renewed COVID-19 lockdowns in New South Wales and accompanying travel restrictions. Login here. Published 26 Nov 2021. Virgin Australia Holdings Limited (VAH) is an Australian-based company that operates in the domestic and international passenger and cargo airline business and a loyalty program. Add Files. 2017. Total cash position of $783.8 million, up from $580.5 million at 30 June 2013, unrestricted cash position of $541.0 million, up from $326.5 million at 30 June 2013, with Gross Debt reduced by approx. In July 2021, the Company completed an "at-the-market" equity offering program (the "ATM Offering"). This ultimately resulted in Virgin increasing its capacity on certain routes. Transport for NSW Annual Report 2019-20 Volume 1. APS 330 31 December 2022. Add Files. Like others in the industry, Virgin is preparing to soon see a meaningful recovery in the aviation sector, which will hopefully improve its financial position in the next financial year. Redesign of the Virgin Australia website, resulting in it being named Top Australian Website at the 2013 Digital Customer Experience Index Awards. The Virgin Australia group of airlines has a very focused corporate giving program. It has posted seven consecutive annual losses. As a result of this transaction, lease-adjusted balance sheet gearing will reduce by 8 per cent. Dec 1, 2021 - 10.02am Share Virgin Australia, which was sold to US private equity firm Bain Capital last year, has defied COVID-19 and reaped $3.7 billion in statutory after-tax profits in. Annual Report 2019. In comparison, Qantas just over three times bigger than Virgin Australia on a revenue basis tripped to a $1.8 billion underlying pre-tax loss in the 2021 financial year. In terms of capacity growth, Virgin Australia recorded normalised growth of 0.112 per cent across the domestic network (excluding Tigerair Australia) for the 2014 Financial Year. Domestic passenger and freight revenue together fell from $2.6 billion in 2019-20 to $983.3 million in the year to 30 June, while international sales fell from $966.2 million down to just $8 million. Bains deal to purchase the airline also meant unsecured creditors, including bondholders received between just nine and 13 cents in the dollar on their investment. So where is the owner, Bains, funds to keep it solvent? Customers entitled to credits for flights that were cancelled due to the pandemic are potentially owed $604 million. The airline also said it will begin recruiting for hundreds of new roles in preparation for an increase in flight demand, as Australia begins to ease its remaining border restrictions. You're out of free articles for this month. Improving productivity including increased fuel efficiency, increased utilisation of the Boeing 737 fleet and the retirement of two 12 year old Airbus A330 aircraft; as well as bringing forward our Boeing 737 Max aircraft deliveries from 2019 to 2018. Required fields are marked *. 2019 Form 10-K 1.4 MB. Todays announcement regarding a strategic transaction for Velocity Frequent Flyer is just the beginning. International flying remains an important component of the groups plan, with international flights scheduled to begin in December 2021 following the reopening roadmaps outlined by the different state and Australian federal governments.. Business Update 2021 . 2021 Annual Report Print Version Web Version 2020 Annual Report Print Version 2019 Annual Report Print Version 2018 Annual Report Print Version 2017 Annual Report Print Version 2016 Annual Report Print Version 2015 Annual Report Print Version 2014 Annual Report Print Version 2013 Annual Report Print Version 2012 Annual Report Print Version Virgin Australia paid down approximately $200 million in Gross Debt during the second half of the 2014 Financial Year and finished the year with a total cash balance of $783.8 million and an unrestricted cash balance of $541.0 million, up $203.3 million and $214.5 million respectively on 30 June 2013. With Virgin Australias major shareholders equity accounting their investments in Virgin Australia from 1 July 2014, it was appropriate for Virgin Australia to align its accounting policies with those of its shareholders and other industry participants. Virgin Australia has surprisingly reported a $3.7 billion after-tax profit for the year ending 30 June 2021, the airline's first in nearly a decade, after the airline clawed its way out of administration. case letter, and one special character. However, the Virgin Vision to 2017 sets out a comprehensive plan of initiatives that will see us deliver a sustainable, profitable business over the long-term. Virgin benefited from about $471.4 million of government support last financial year, mostly from the JobKeeper wage subsidy and the domestic aviation network support package that underwrote unprofitable routes. It was one of the Asia-Pacific region's first airlines to fall when it was placed into voluntary administration on April 21, with debts of $6.8 billion. As usual, timell tell. 2014 Skytrax World Airline Awards Best Airline Staff Service in the Australia/Pacific region. UNICEF Programme Division Annual Report 2021 Files available for download (1) English (PDF, 253 KB) 02 December 2022 Humanitarian Action for Children 2023 By working together, we can build a better future for every child living through conflict and crisis. Tigerair has made a number of enhancements this year which will drive benefits, including launching a Brisbane base, securing a new more efficient maintenance provider in BAE systems and reaching agreement with Sydney Airport Corporation Limited about infrastructure constraints at Sydney Airport. As a result of several major balance sheet initiatives executed during the year, the Virgin Australia Group finished the year with a total cash position of $783.8 million and an unrestricted cash position of $541.0 million. The company offers a variety of aviation . Username or email already exists! The Qantas Group Annual Report contains key financial information as well as important operating and corporate information about the Qantas Group. Meanwhile, the airlines regional operations bolstered Virgins bottom line throughout the pandemic, with revenues up 23 per cent year-on-year to $215 million. So only time will tell. Over the 2014 Financial Year, the Group focused on fast-tracking the completion of the Game Change Program and finished the strategy ahead of schedule. Annual reports prior to 2013 are located on the National Library of Australia's web archive at the below links. Use Ask Statista Research Service, Australian financial years run from July 1 to June 30 the following year, Busiest U.S. airports - number of passengers 2021, Busiest Indian airports FY 2022, by number of passengers handled, Leading airlines worldwide based on total number of passengers 2020, Passenger traffic at London Heathrow Airport 2002-2021. Creative accounting at its very best! The result is a significant improvement on its 2019-20 financial year results that saw Virgin report a $3 billion loss. Virgin making a huge profit is very funny. Revenue fell 20 per cent to $4 billion as the pandemic forced airlines around the world to ground fleets and mothball networks as travel demand crashed. In an upbeat update last month, Ms Hrdlicka said the carrier had leased 10 new Boeing 737-800 aircraft, and would return 220 staff to work and start hiring as the domestic travel market stirs to life. An adjustment has been made to H1 FY13 to normalise the impact of the Skywest acquisition. While revenue growth in the leisure and regional segments was subdued, this was partially offset by revenue growth in the Corporate and Government, Charter and Interline and Codeshare segments. Currently, you are using a shared account. Are you interested in testing our business solutions? Accordingly the capacity growth differs to that in the operating statistics on page 11 which do not include this adjustment to H1 FY13. The news comes two weeks after Virgin announced it had signed letters of intent to welcome an additional seven Boeing 737 Next Generation aircraft to its fleet, and is preparing to stand all of its staff back up by December. Stock analysis for Virgin Australia Holdings Pty Ltd (VAH) including stock price, stock chart, company news, key statistics, fundamentals and company profile. Last year, Australian Aviation revealed how Virgin Australias administrator Deloitte criticised the companys misconceived business strategy to shift away from being a low-cost carrier as one of the main reasons for the business troubles. Completion of the roll out of wireless in-flight entertainment across the Boeing 737 fleet, offering seamless streaming to mobile devices, computers and tablets. 2020 - Annex. 2018. Annual Report 2017. Overall, Virgin saw an underlying before-tax loss of $76.8 million marking perhaps a better indicator of Virgins financial performance in the year to 30 June. ASIC has cancelled the registration of 374 auditors of self-managed superannuation funds (SMSFs) who failed to lodge their annual statements. 2019 Financial results. Source: Guest Satisfaction Tracker, July 2014. Customer experience highlights during the 2014 Financial Year include: All of this has been achieved while maintaining a cost advantage, with Virgin Australias Underlying CASK13 growth averaging 2.6 per cent over the last four years, despite the investment in major product and service transformation. In the year to 30 June, revenue fell by nearly 70 per cent due to intermittent border closures, from $4.5 billion in 2019-20 to just $1.5 billion, however Virgin claimed it was similarly able to cut down expenditure, also by 70 per cent. Travel Daily - Informing, connecting and developing the worlds travel industry professionals. Add Files. Virgin Atlantic . It is thanks to the tireless efforts of every one of our team members that we have successfully implemented this strategy ahead of schedule in a challenging environment. The new board is led by Bain Capital consumer head Ryan Cotton who has previously worked with the Boston Red Sox baseball team as chairman. Virgin Australia Holdings Ltd is an airline operator based in Australia. Help using this website - Accessibility statement. You will be redirected to update payment method page. It comes as a surprise to investors and aviation enthusiasts since it was sold to Bain Capital, a US-based private equity firm, last year. Statista. This enables us to continue to deliver the right mix of destinations with high frequency to support both our business and leisure purpose guests. The filings. The debts are due between now and 2031. window.__mirage2 = {petok:"m9.hwdv4WnHFYW1joWkBUJuJ94qGhcnLKRcc_p2kRNM-1800-0"}; 2017 - Annex. Virgin Australia Domestic Virgin Australia Domestic reported an underlying EBIT of $133.4 million, down from $215.8 million during the prior corresponding period and inclusive of $87.6 million in fuel and foreign exchange headwinds. Oh, how the mighty have fallen. . We have significantly enhanced our balance sheet and liquidity through initiatives such as the issue of Enhanced Equipment Notes in October 2013, the Entitlement Offer in November 2013 and the sale and lease back of our Brisbane based office in May 2014. This statement describes how the directors of the company have had regard to their statutory duties to promote the success of the company (as set out in . 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