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Australia’s Virgin Blue cautiously optimistic on outlook

23 October 2006

Low cost airline Virgin Blue Holdings Ltd said it is cautiously optimistic about its business outlook.

Chairman Mark Rowsthorn told its annual general meeting the company is taking more action on the management of its fuel costs.

He said the airline now has fuel hedges in place for over 89 pct of budgeted requirements for the year to June 2007 and some hedging in place for fiscal 2008.

Virgin Blue already has about 33 pct of Australia’s domestic aviation market, making it Australia’s second largest airline after Qantas Airways Ltd.

source: Forbes

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