Virgin Blue shares collapse as carrier issues another profit warning
In the space of four weeks, Australian carrier Virgin Blue has twice downgraded its earnings guidance for the current financial year (to 30-Jun-2010) from the AUD80-110 million profit before tax and exceptional items target announced on 04-Feb-2010 to just AUD20-40 million revealed today. Its shares have collapsed 28% this morning in an otherwise buoyant session on the Australian Stock Market after a strong lead from European and US markets overnight.
