Virgin Australia plans to exit unprofitable routes
Plans to have 30-60 737s in operation in next 12 months
Qantas expects to increase domestic share to 70%
Adds CEO comments, fleet plans
SYDNEY, Sept 2 (Reuters) – Virgin Australia Holdings Ltd VAH.AX expects to lose domestic market share to rival Qantas Airways Ltd QAN.AX under its new business plan as it exits unprofitable routes, its chief executive said on Wednesday.
“I do expect we will lose market share because there are routes that weren’t making any money,” Paul Scurrah said at the CAPA Australia Pacific Aviation Summit.
“There will be markets where we do want to hold our own,” he said. “We are looking at it market by market rather than nationally.”
Qantas last month said it expected its domestic market share could rise to 70% from its pre-pandemic level of 60% as the market recovers because Virgin is reducing