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Virgin Australia reports on passenger loads for May

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Virgin Australia (ASX:VAH) said the Revenue Load Factor for May 2013 was 69.3%, a decrease of 6.8 points on the previous year on year period.

Virgin was trading 1.12 per cent lower at $0.44 on the news.

Virgin said the loads for the month of May were lower due to the continued focus on securing higher yielding passengers and the ongoing weak economic environment.

Yield growth was positive for the third consecutive month, with growth of approximately 10% for the month of May 2013, compared to the prior corresponding period.

It said preliminary estimates indicate that load factors for the month of June have improved and are currently expected to be within the range of 70-75%.

Available Seat Kilometres increased by 2.7% for May 2013, year on year compared to the prior corresponding period, excluding the contribution from SKywest.

Revenue Passenger Kilometres for May 2013 decreased by 4.4%.

International operations achieved passenger growth of 3.9% on Available Seat Kilometre growth of 3.3% for year-to-date May 2013 and Revenue Load Factor of 76.4% down from 77.0% on the prior corresponding period.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

 

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