Virgin Blue commits to 18 ATR 72s as second-half profit slumps

Virgin Blue Holdings reported a net profit of A$23.8 million for the fiscal first half ended Dec. 31, 2010, down 62% from A$62.5 million in the year-ago period as a series of one-time events ravaged the bottom line. Underlying net profit before interest and tax declined 8.5% to A$97 million ($97.3 million) while pre-tax profit plunged 62.6% to A$36.8 million. The airline recorded an 11.8% increase in revenue to A$1.70 billion but operating expenses lifted 14.6% to A$1.61 billion.

The airline also committed to 18 ATR 72s to expand its regional network and replace its......

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