Australian budget airline Virgin Blue--which recently reported a $76.7-million annual net profit--has launched a frequent-flier program, Velocity. The program allows customers to redeem points on flights all year, with no blackout periods. CEO Brett Godfrey says the company's strategy is to broaden its appeal to frequent fliers in the corporate and government sectors. The program is designed to compete directly with Qantas's frequent-flier program incorporating recent initiatives including ...

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