Virgin Australia first-half losses narrow on oil slump

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Virgin Australia saw its losses narrow to A$47.8m ($37.3m; £24.2m) in the six months to December because of lower oil prices and a cost-cutting programme.

Revenue rose by 6% to A$2.38bn from a year earlier.

Australia's second-largest carrier has also benefited from a truce with rival Qantas following a bruising domestic price war.

Virgin Australia said it now expects an improved performance in the second half of the financial year.
http://www.bbc.co.uk/news/business-31529133