Virgin Australia returned to profitability for the first time in 11 years, reporting statutory NPAT of $129 million. Revenue more than doubled compared to the prior year to $5 billion as the company responded strongly to increased customer demand following COVID-19. Underlying EBIT was $439 million, representing a margin of 8.8%.

Virgin Australia's Airline business (which includes domestic, international, and regional and charter flying) recorded revenue of $4,873 million, an increase of 126% due to increased flying activity. Underlying EBIT was $362 million, a margin of 7.4%.

Loyalty business Velocity recorded revenue of $330 million, an increase of 68%, with strong member growth through the year, reaching a record 11.5 million members. Underlying EBIT of $77 million represented a margin of 23.4%.

Record travel demand for leisure and the return of SME customers to pre-Covid levels alongside a slower but important return of corporate travellers, enabled significant revenue recovery. Efficiency initiatives delivered a significant increase in profitability in spite of higher fuel prices. Virgin Australia continues to see healthy demand as customers prioritise travel in the face of cost-of-living pressure.