Virgin Australia has surpassed its corporate revenue target, set in 2010, doubling the figure 20% within three years.
The airlines move upmarket seems to have paid off with the airlines’ revenue from lucrative corporate travel market “way north of 20% now”, said Virgin boss John Borghetti on the Financial Review Sunday.
Rival Qantas Airways has remained unfazed by the competition and said their airline has maintained an 85% share of corporate market revenue over the last financial year.
Despite Virgin recording a $98 million loss last week, Borghetti told the Financial Review Sunday that he was positive about the long term and put the result down to major restructuring during tough market conditions.
“In the last four months, we’ve seen good recovery in terms of load factors, good recovery in terms of our yield and a higher satisfaction level from our customer base than any of our competitors, so they’re all good signs leading into 2014.”
Read more here.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.