FY19 is cutting 750 corporate and head office positions as it restructures following a full-year loss after tax of AUD315.4m ($213m) for Virgin Australia. The airline's CEO, Paul Scurrah, plans to save AUD75m with the 30% head office and corporate workforce reduction as fuel price increases and unfavourable foreign exchange put the company in difficulties. The Brisbane-based carrier's underlying pretax loss of AUD71.2m for the year was up from AUD64.4m last year and considerably worse than guidance from May, which put the figure at AUD35.6m.
Virgin Australia is cutting 750 corporate and head office positions as it restructures following a full-year loss after tax of AUD315.4m ($213m) for FY19. The airline's CEO, Paul Scurrah, plans to save AUD75m with the 30% head office and corporate workforce reduction as fuel price increases and unfavourable foreign exchange put the company in difficulties. The Brisbane-based carrier's underlying pretax loss of AUD71.2m for the year was up from AUD64.4m last year and considerably worse than guidance from May, which put the figure at AUD35.6m.