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Virgin Blue expects full-year profit of up to A$110 million

Australia's Virgin Blue expects to post a pre-tax profit of A$80 million to A$110 million ($69 million to $96 million) for the fiscal year ending 30 June 2010.

This is compared with a loss of A$93 million in the previous year, says the airline group.

The estimated profit, which does not take into account exceptional items, is "consistent with the most recent guidance (given at last year's annual general meeting) that the group would return to profitability in the year", says Virgin Blue.

It attributes the improved performance to lower fuel prices, and some recovery in yields in the domestic segment.

However, it adds that "concerns remain around the pace of the global economic recovery and the continuing volatility in domestic and international markets".

"In particular, seasonality and competitive activity in the domestic market will see pressure on yields for the remainder of this year," says Virgin Blue.

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