Virgin Blue sharply lowered its guidance for 2009/10 full-year profit before tax and exceptional items from A$80 million ($99 million) to between A$20 million and A$40 million.
The airline, which hopes to form a transtasman alliance with Air New Zealand, also said it expected average airfares to increase by more than 10 per cent.
- NZPA
Virgin Blue cuts forecast
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