Virgin Australia said on Monday it had recorded its second consecutive annual profit and a 6.8% year-on-year increase in revenue, putting it in a stronger financial position as it looks to pursue an eventual initial public offering.

(Reuters) - Airline Virgin Australia said on Monday it had recorded its second year of after-tax profitability since returning to profit last year for the first time in 11 years, and a 6.8% year-on-year increase in group revenue.

Virgin Australias Financial Resurgence On Monday, Virgin Australia announced it has achieved its second consecutive annual profit, showcasing a 6.8% year-on-year increase in revenue. This positive financial

Virgin Australia’s Velocity is undergoing a major revamp with the addition of two more tiers and changes to the way in which points and status credits are earned by frequent flyers.

There’s a lot happening in the world of Virgin Australia’s Velocity Frequent Flyer program. Lifetime Velocity status is on the way, along with a new perk-laden Platinum Plus tier. The number of status credits you earn on a Virgin Australia flight will be directly tied to the price of your ticket.

The airline will add a new “Forever Gold” status from October next year, matching Qantas’ gold lifetime status, as well as a “Platinum Plus” tier above platinum. Velocity Frequent Flyer hit 12 million members earlier this year,