On 30 August Virgin Australia Holdings Ltd announced a $98 million loss for the financial year to 30 June 2013. Chief Executive Officer John Borghetti said:
The company was also impacted by the carbon tax during the 2013 financial year with a $47.9 million cost of which we were unable to recover due to strong competition in the market.
The Gillard Government had been warned that an Australian carbon tax would disproportionately affect Australian companies while making no difference to the world’s climate. Unfortunately she and Mr Rudd never understood that point. Didn’t they say or imply that the carbon tax would not hurt?
As at 30 June 2013, Vieco 2 Limited (Virgin Group) owned 26.13 per cent of the shares of Virgin Australia Holdings Ltd. Branson owns 100 per cent of Virgin Group shares.