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Virgin Australia to post $224.7m FY loss

AAP logoAAP 28/07/2016

Virgin Australia will post a $224.7 million loss next month due to the cost of overhauling the airline.

Australia's second biggest carrier reports its full-year results on August 5 but issued a fourth-quarter trading update on Thursday, showing the impact of the changes the airline says will save up up $300 million per year in costs by the end of the 2019 financial year.

Underlying profit for the 12 months to June 30 will meet guidance at $41.0 million, an improvement on FY15's $49.0 million underlying loss.

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