Virgin Australia plans to launch a freight division

After announcing a net loss of US$332.3 million for FY2014 and describing the current climate as “one of the most difficult operating environments in the history of Australian aviation,” Virgin Australia CEO John Borghetti said, among other things, that the airline will launch a freight division in FY2015, with the expectation that the division would produce annual revenues of about $187 million by 30 June, 2017.

In addition to fifty-nine narrowbodies, Virgin Australia operates six A330-200s, as well as five 777-300ERs (via its Virgin Australia International subsidiary). The airline’s parent company, Virgin Australia Holdings, is majority foreign-owned, with stakes held by Air New Zealand, Singapore Airlines, UK-based Virgin Group, and UAE’s Etihad Airways.