Australia's Virgin hopes to fly to Asia next year
Australian carrier Virgin Blue Holdings Ltd hopes to launch flights into northern Asia in 2009 through its new international arm, V Australia, Chief Executive Brett Godfrey said on Monday.
By Agencies |
CANBERRA: Australian carrier Virgin Blue Holdings Ltd hopes to launch flights into northern Asia in 2009 through its new international arm, V Australia, Chief Executive Brett Godfrey said on Monday.
Godfrey said likely destinations included Japan, northern China and parts of south and Southeast Asia, which could be serviced by its current fleet.
``I think the ASEAN region is looking at opening up its borders among those member nations, so I think that's probably the next big opportunity,'' Godfrey told a business television, referring to the 10-member Association of Southeast Asian Nations.
He said Virgin Blue expects to lose between 50 million Australian dollars and A$80 million ($45 million-$73 million; euro31 million-euro50 million) in developing V Australia, adding that the startup costs would be funded out of working capital.
His comments come after Australia and the U.S. on Friday signed a bilateral ``open skies'' aviation agreement, clearing the way for Virgin Blue to continue its plan to begin flights to the United States by the end of 2008.
Godfrey said likely destinations included Japan, northern China and parts of south and Southeast Asia, which could be serviced by its current fleet.
``I think the ASEAN region is looking at opening up its borders among those member nations, so I think that's probably the next big opportunity,'' Godfrey told a business television, referring to the 10-member Association of Southeast Asian Nations.
He said Virgin Blue expects to lose between 50 million Australian dollars and A$80 million ($45 million-$73 million; euro31 million-euro50 million) in developing V Australia, adding that the startup costs would be funded out of working capital.
His comments come after Australia and the U.S. on Friday signed a bilateral ``open skies'' aviation agreement, clearing the way for Virgin Blue to continue its plan to begin flights to the United States by the end of 2008.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
