Virgin Blue shares plunge after company predicts profit plunge due to fuel costs, competition

Shares of Virgin Blue Holdings Ltd., Australia's second-largest airline, plunged to a record low Monday after the company dropped its annual profit forecast due to rising fuel costs and tough competition.

Toll stuck with Virgin for now

VIRGIN BLUE'S controlling shareholder, Toll Holdings, remains intent on selling its stake in the airline in the longer term despite the failure of an almost year-long hunt for buyers.

Australian stocks hit 32-month low

The Aussie stock market was languishing at a 32-month low at noon as fears of slowing global growth lowered commodity prices and hammered the resources sector.

Qantas name will survive but low-cost fares are over

As the dust of more job losses, grounded planes and additional capacity cuts starts to settle on the worn tarmac of the aviation industry, three clear things have begun to emerge from the gloom.

Australia's Virgin Blue airline to withdraw 2 aircraft, introduce baggage fees

Australian airline Virgin Blue Holdings Ltd. said Friday it would introduce new baggage fees and withdraw two aircraft from service, its second capacity cut in a month in response to rising fuel costs.

Main shareholder in Australia's Virgin Blue airline to dump stocks via special dividend

The major stockholder in Australia's second-largest airline said Monday it would dispose of almost all of its shares, cutting its exposure to an industry that is recoiling from soaring fuel prices.