Virgin AGM shows confidence in the future
While Virgin Blue held its own AGM yesterday the carrier’s ownership will be announced at the AGM of its parent company Toll Holdings on Thursday.
Toll Managing Director, answering shareholder questions at the Virgin Blue Brisbane AGM Paul Little said he would answer the question of ownership at the Toll AGM on Thursday.
He said that Toll is very supportive of Brett Godfrey, Virgin Blue’s CEO and that the airline is very well run and profitable.
Virgin is also looking to follow Qantas’ lead by cutting its fuel levy if the price of oil continues to fall, with F Brett Godfrey saying that if I oil drops into the $50 per barrel, they will reduce the surcharges.
The AGM confirmed that the airline is optimistic about its outlook and close to making a decision on flights to the US, with Brett Godfrey saying that the airline was comfortable with its strategic direction and adding flights to the US would help increase profitability and widen its appeal to business travellers, attracting customers from rival Qantas.
Virgin Blue Chairman Mark Rowsthorn said that progress is encouraging and they expect to be in a position to make a decision on long-haul US flights fairly shortly.
Report by The Mole
John Alwyn-Jones
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