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Virgin Australia profit soar as oil falls

Virgin Australia has reported an underlying profit of A$81.5 million for the first half of the financial year, helped by falling oil prices. The before tax result was an improvement of $71.3 million on the first half of the 2015 financial year. The airline - 26 per cent owned by Air New Zealand - said it was benefiting from the fall in oil prices, which are now at 12 year lows. "The group's net benefit from changes in the price of oil, taking into account the adverse impact of foreign… ( More...

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