virgin blue holdings ltd (VBA) Snapshot

Virgin Australia has announced the appointment of Judith Crompton to the newly created role of chief commercial officer. The role will have responsibility for Alliances, Network, Revenue Management and Sales, covering the company's domestic and international network. Ms. Crompton has more than 30 years' experience in the aviation and travel industry, gained with some of the companies in Australia, the UK and the Middle East. Prior to joining the company in 2012 as Group Executive of Sales, Ms. Crompton held the position of Head of Global Corporate Sales at Etihad Airways. She was responsible for the overall strategic direction and implementation of commercial sales for the airline globally, as well as representing Etihad to various stakeholders and the public.

Virgin Australia Holdings Limited reported operating results for the month and year to date ended April 2013. For the month, the company reported total passengers carried of 1,533,972 against 1,587,618 a year ago. Available seat kilometers were 3,459 million against 3,321 million a year ago. Revenue load factor was 73.6% against 77.0% a year ago. For year to date, the company reported total passengers carried of 16,155,189 against 16,188,670 a year ago. Available seat kilometers were 34,805 million against 33,000 million a year ago. Revenue load factor was 76.1% against 78.2% a year ago. The company continues to expect to record a positive underlying profit before tax for the fourth quarter of fiscal 2013. The company is currently anticipated that underlying profit before tax for fiscal 2013 will be below fiscal 2012. The adverse impact to revenue from the introduction of the Sabre system in the third quarter is not likely to be recovered by the end of fiscal 2013, given the slower than anticipated improvement in trading and economic conditions. Given the slower trading conditions and competitive and weakening economic environment, it is not possible at this time for the company to provide any further profit guidance for fiscal 2013. The company anticipates that capacity growth for the second half of fiscal 2013 will be around 4%, down from previous guidance of 5-7%. The company also expects capacity growth to further moderate into fiscal 2014, with capacity growth for the first half of fiscal 2014 expected to be within the range of 4% to 5%.

Richard Branson might sell its remaining 13% stake in Virgin Australia Holdings Limited (ASX:VAH). "We will see," Richard Branson Co-Founder of Virgin Australia said. "I am happy with the shareholding as is. It's not that important to us ... the most important thing is the branding, the branding relationship we have," Richard Branson added.