VBA

Budget airline carrier Virgin Blue (VBA) posted a better than expected profit for the first half of the financial year, reporting a net profit of $62.5 million (compared to the corresponding period in 2008 where VBA lost $101 million). No interim dividends for Virgin Blue.

Suncorp-Metway Limited (SUN), an Australia based financial services group that concentrates in the insurance, retail services, funds management products, provision of banking, superannuation, and corporate and commercial sector (market capitalisation $11501.6 million) was the best performer of the 3rd week in ASX100 with a gain of 3.3 percent or 29 cents closing the week at $9.05.

Australian Competition and Consumer Commission gave Virgin Blue (VBA) the approval to go for operating the Pacific route through a joint venture with US based Airline giant Delta Airways. The decision came from ACCC after the plan got approval from the US Department of Transportation last month allowing the two airlines to sign a joint services agreement.

Goodman Group (GMG), a company that mainly focuses in the business of ownership, development and management of business and industrial places with a market capitalisation of $4021.1 million was the best performer of the 40th week in the Australian Stock Exchange with a gain of 9.9 percent closing the week at $0.67.

V Australia, the long-haul carrier of Australia based travel Service Company Virgin Blue (VBA) has highlighted the tough competition that it is currently facing on the pacific route as it recorded a $124 million pre-tax loss for the first four months of operation. The pre-tax loss includes foreign exchange losses and startup cost-which are considered as the key causes that led its parent to post a $160 million loss for the year that ended in June.

Goodman Group (GMG), a company that is engaged in the business of ownership, development and management of business and industrial places was the best performing stocks in ASX100 index for the 33rd week that saw a rise of 19.1 percent or 9 cents in its stock price closing the week at 53 cents.

Toll Holdings, the largest shareholder in Australia's second largest Airline, Virgin Blue Holdings plans to scrape its majority stakes in the airlines. Virgin Airlines is also Australia's biggest freight carrier owned by Virgin Group. Toll shall offload its holdings via a special dividend scheme according to which Toll shareholders shall get one share of Virgin Blue for every Toll share they own.