Virgin Australia to adjust fares to reflect cost pressures

March 20 (Reuters) – Virgin Australia is adjusting fares as rising costs across the aviation sector are “exacerbated by the situation in the Middle East”, the Australian carrier said in a statement to Reuters on Friday.

Here are some details : 

* The airline said on Friday costs across the aviationsector continue to rise, now significantly exacerbated by thesituation in the Middle East. * Shares of the company closed 5% lower after dropping asmuch as 6.2% to their record low level of A$2.42 during thesession. * The company’s stock has shed 22% since the start of theMiddle East conflict in February end. * The airline said its services operated by Qatar Airwaysremain impacted by the Middle East situation, with servicescancelled up to and including at least Saturday, 28 March 2026,its website showed. * Virgin Australia in February said it was hedging 85% offuel and 94% of foreign exchange for the second half of itsfinancial year. * Virgin, in its first half results in February, highlightedthat cost pressures persist across the industry, with costsgrowing above inflation in several areas of the aviation supplychain, including airport charges and maintenance.

(Reporting by Sherin Sunny in Bengaluru; Editing by Nivedita Bhattacharjee)