The Tigerair business has undergone the first year of its transformation program, which sets out a clear path to profitability. The airline entered administration in April 2020 owning more than $7 billion and was subsequently bought by new owner Bain for $3.5 billion. The details are in Virgins financial report for the year to the end of June 2020, which the Australian Securities and Investment Commission received a fortnight ago and published on Tuesday. Virgin Australia is in the operation of a domestic and international passenger and cargo airline business and a loyalty program. Financial performance for the 2014 Financial Year was impacted by the confluence of excess market capacity, weak consumer sentiment, continued economic uncertainty and the $51.6 million cost of the carbon tax. Underlying Loss1 before tax of $211.7 million in line with market expectations Total Domestic revenue increased by 6.3 per cent to $3.9 billion, supported by Yield growth of 4.1 per cent and //