Virgin Australia Holdings Ltd plans to cut domestic capacity by at least 2% in the second half of the 2020 financial year, axe its Melbourne-Hong Kong route and remove five aircraft from its fleet, its chief executive said on Wednesday. “Flying to the right destinations, with the right customer demand, and the right-sized fleet will improve our financial performance,” Virgin Chief Executive Paul Scurrah said at the airline’s annual meeting in Brisbane. Virgin competes against deeper-pocketed rival Qantas Airways in Australia’s aviation market, which has experienced softer demand as the country’s economic growth falters. …read more
Source:: Yahoo Finance
