Flying with Virgin Australia just got more affordable
Australia’s second largest airline has revealed a new Economy product, which the company promises will be more affordable and “passenger friendly”
From today, Virgin Australia is introducing brand new Economy fares including Economy Choice, Economy Flex and Economy Lite, each of which will offer different booking options.
In a statement, Virgin Australia says: “Travellers will continue to receive 23 kilograms of checked baggage and seat selection when they book an Economy Choice or Economy Flex fare. Economy Choice will also offer bonus Velocity Frequent Flyer Points and Status Credits and booking flexibility for changes up to 14 days prior to departure without paying a fee.”
VA stated that the move came following a review of fares, pricing and bookings, which found that an average of 30 per cent of customers did not use their checked baggage allowance.
Photo: Supplied/Virgin Australia
The airline is also introducing an Economy Lite seat-only fare, giving travellers the option to remove the unwanted cost of checked baggage from their ticket price
The move positions Virgin Australia as the only Australian airline to offer Economy, Economy X, seat-only Economy fares and Business Class, giving customers the most diversified range of airfare options in the domestic market. It will also bring Virgin Australia in line with most major US and European carriers.
The new fares will reduce Virgin Australia’s lowest lead-in Economy fare to just $59,which is a 33 per cent reduction when compared to September 2019 prices.
Photo: Supplied/Virgin Australia
A Virgin Australia Group spokesperson said the new fares follow an extensive review of the airline’s fare pricing and structure.
“We discovered that nearly one in every three Virgin Australia customers don’t bring a checked bag when they travel, despite a bag allowance built in to their airfare. On flights between Melbourne, Sydney and Brisbane, that number is even higher.
“Today we’re putting the power back in the hands of our customers by leaving it up to them to choose what they want. If they don’t want a checked bag or seat selection, they won’t have to pay for it – it’s that simple. If they prefer to keep the extras, there are great value inclusive fare options available.
“Every customer is unique and has different needs and budgets, and we want to welcome all of them onboard to experience our award-winning service, in the way that best suits them,” they said.
Today’s announcement will see Virgin Australia customers have more fare flexibility
Virgin Australia Club members including eligible Velocity Frequent Flyer and Lounge members will continue to be welcomed to enjoy the airline’s premium and domestic lounges, irrespective of the ticket they buy.
The introduction of the new Economy fares follows the announcement earlier this week that Virgin Australia will retain its premium loyalty program and premium lounges (formerly known as “The Club”) in Melbourne, Sydney and Brisbane.
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.
Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.
All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.
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In Short:
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
The Dow Jones Industrial Average increased by 569 points or 1.2% on Tuesday, reflecting investor optimism for an upcoming Federal Reserve interest rate cut. The S&P 500 and Nasdaq Composite also posted gains, up 0.8% and 0.4% respectively. This represented a recovery from earlier losses, where the S&P 500 briefly fell by 0.7%.
Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.
Tech Sector
Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.
Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.
But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.
Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.
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