Virgin Australia expects its financial performance to continue to improve after a rise in underlying profit, revenue and customer numbers in the first quarter of the financial year.
The airline said its underlying profit before tax in the three months to September was up $18 million on the same period a year ago, when it made an underlying loss of $3.6 million.
Revenue increased by 5.7 per cent on the prior corresponding period, as passenger numbers were higher in its domestic, international and Tigerair operations.
Chief executive John Borghetti told the company's annual general meeting that Virgin Australia's underlying performance is expected continue to improve in the second and third quarters of the current financial year, compared to the same periods in the previous year.
"This would represent four consecutive quarters of underlying performance improvement for the group," he said.
Virgin Australia made an underlying pre-tax loss of $3.7 million in the 2016/17 financial year, as the impact of subdued trading conditions and changes to the airline's fleet outweighed an improved performance in the final three months of the year.
Chairman Elizabeth Bryan told Wednesday's meeting that the board has spoken about the possibility of Virgin Australia being removed from the Australian share market.
More than 91 per cent of the company's shares are held by Etihad Airways, Singapore Airlines, Chinese conglomerate Nanshan Group, Chinese aviation giant HNA Aviation Group and Richard Branson's Virgin Group.
"The board has held discussions about privatisation, however there is no outcome to report to the market at this stage," she told the meeting.
"It is my responsibility, and that of all our directors, to ensure that the interests of the minority shareholders are represented by the board."
The company's shares were up 1.75 cents, or nine per cent, at 21.25 cents at 1515 AEDT.
