Matt O'Sullivan

Matt O'Sullivan

Matt O'Sullivan is a Business Reporter for The Sydney Morning Herald.


Virgin raises $344m in first corporate bond issue

Matt O'Sullivan and Jonathan Shapiro Virgin Australia has raised $US300 million ($344 million) from its first corporate bond issue to global investors.


Virgin boosts ability to tap foreign capital markets


Matt O'Sullivan Virgin Australia is on the cusp of returning to overseas capital markets in a further effort to diversify its funding after one of the big-two ratings agencies assigned the airline its first public...

Space tourism

Virgin Galactic crash fails to deter Australian space tourists

Happier days: Wilson da Silva (left), Richard Branson and Brett Godfrey in Sydney in 2005.

Matt O'Sullivan They forked out $US200,000 each for their place on the first commercial Virgin Galactic flights into space.


Virgin Australia again under fire for 'very substantial' pay package for CEO John Borghetti

John Borghetti

Matt O'Sullivan Virgin Australia’s board is again under fire from an influential adviser to large investors for what it describes as high levels of pay for the airline’s chief executive, John Borghetti.


Qantas-backed Fiji Airways searches for new CEO

Goodbye Fiji, hello Germany: Stefan Pichler is stepping down as Fiji Airways CEO after just over a year.

Matt O'Sullivan Qantas-backed Fiji Airways is searching for a new chief executive after Stefan Pichler decided to pack his bags for Germany to take over as boss of Air Berlin.


Qantas short-haul pilots give pay offer short shrift

Qantas' short-haul pilots have voted against a company wage offer.

Matt O'Sullivan Qantas' short-haul pilots have overwhelmingly rejected a wage offer that would have resulted in them forgoing 18 months of back pay, dealing a blow to management's bid to put in place a company-wide...


Malaysia Airlines admits it has 'work to do' to win back flying public's trust

Flight Centre managing director Graham Turner said demand for Malaysia Airlines fell 40 per cent in the weeks following the incidents, and was still down about 10 per cent on the same period last year.

Matt O'Sullivan Malaysia Airlines concedes it still has work to do to win back the confidence of Australia’s flying public following the loss of two of its passenger jetliners earlier this year.


Ebola, weak dollar haven't hurt travel demand, says Flight Centre

Flight Centre managing director Graham Turner.

Matt O'Sullivan Flight Centre is banking on growth accelerating in the second half of this financial year as it anticipates a gradual recovery in demand and consumer confidence in the Australian travel market.


Virgin Australia cautions leisure market remains weak

Virgin Australia boss John Borghetti (left).

Matt O'Sullivan Virgin Australia chief executive John Borghetti has cautioned that the leisure sector remains flat but he remains optimistic about a pick up in demand early next year.


Virgin Australia chairman Neil Chatfield to stand down

Matt O'Sullivan Virgin Australia will step up the search for a new chairman after Neil Chatfield declared his intention to relinquish the reins after seven years in the role.


Qantas 'on track' after making first-quarter profit, says Alan Joyce

Qantas CEO Alan Joyce

Matt O'Sullivan Qantas made a pre-tax profit in the first quarter as growth in capacity in the domestic market ground to a halt and competition eased on international routes.


Toll warns first quarter was weaker than expected

Tough start: Toll boss Brian Kruger says the lead up to Christmas will be crucial.

Matt O'Sullivan Toll Holdings has conceded that trading conditions were tougher than expected in the first quarter in the volatile macro environment, but has reiterated its full-year earnings guidance.


Cathay Pacific says Jetstar Hong Kong a 'branch office' of Qantas

Cathay Pacific and Qantas

Matt O'Sullivan Cathay Pacific is refusing to drop its opposition to Jetstar Hong Kong because it believes the grounded airline remains a ‘‘branch office of Qantas’’ and fails to meet the...


Aurizon likely to avoid second strike over executive pay

Aurizon said it would increase planned cost cuts to up to $300 million from an original target of $230 million to boost earnings.

Matt O'Sullivan Aurizon is set to avoid a ‘‘second strike’’ against its executive pay card at its annual shareholder meeting next month after two influential proxy advisers supported changes...


Qantas engineers reach pay deal, agree to 18-month pay freeze

Qantas loss 'diabolical'  (Thumbnail)

Matt O'Sullivan Qantas aircraft engineers at the centre of the 2011 industrial dispute that grounded the airline have agreed to a new four-year wage deal that includes a pay freeze for the first 18 months.


Downer eyes work from power privatisations following $300m Tenix purchase

Tenix had initially sought to raise funds through selling a stake or listing its shares on the stockmarket, but then decided to accept Downer EDI's offer.

Matt O'Sullivan Downer EDI plans to grow quickly contractor Tenix to take advantage of the privatisation of electricity assets in NSW and Queensland following its purchase from Sydney’s wealthy Salteri family...


Sydney Airport's international passengers fall amid curbed appetite for overseas holidays

The fall in international passengers was largely due to a 2.5 per cent drop in Australians travelling overseas, deterred by the weaker currency.

Matt O'Sullivan The number of international passengers passing through Sydney Airport fell last month, which analysts believe is a a sign that a weaker dollar is curbing Australians’ plans to travel abroad.


Qantas pins hopes on weaker dollar boosting foreign travellers

Qantas is pinning hopes on weaker Australian dollar.

Matt O'Sullivan Qantas expects to generate significantly more of its revenue from foreign visitors travelling to Australia as a weaker dollar makes the country a cheaper destination to holiday.


Qantas close to busting foreign ownership cap

Last in, first out: Foreign shareholders may be forced to sell part of their holdings in Qantas.

Matt O'Sullivan Foreign ownership in Qantas is close to busting the 49 per cent cap, which is expected to put downward pressure on the airline’s share price as overseas investors face the prospect of reducing...

Cathay Pacific boosts capacity on routes to Australia

Matt O'Sullivan Cathay Pacific is hopeful a weaker dollar will make Australia a more attractive destination for foreign tourists.