The value of Virgin Australia’s frequent flyer scheme Velocity was slashed from $2 billion to $700 million in an independent report allowing Bain Capital to take full ownership of the […]
The government’s ’emissary’ to the Virgin Australia administration and former Macquarie boss Nicholas Moore says the airline’s sale process is on the right path.
One of Virgin Australia’s largest bondholders is pushing to unseal the secret details of a deal to sell the bankrupt airline to private equity firm Bain Capital.
Major owners of Virgin Australia’s unsecured bonds have launched an extraordinary intervention to hold up the bankrupt airline’s sale to Bain Capital.
The sale of Virgin Australia to Bain Capital is facing its first legal hurdle.
Virgin Australia’s bondholders are preparing to tip the bankrupt airline’s sale process on its head.
The local boss of investment giant Bain Capital, Mike Murphy, is in the midst of a corporate battle for Virgin Australia.
Two unions representing Virgin Australia workers have publicly backed the Richard Branson-linked investment firm Cyrus Capital.
Virgin co-founder Richard Branson wants to invest up to $100m to maintain a minority stake alongside the successful private equity suitor when it emerges from administration.
The federal government has rejected at least one direct plea from Virgin Australia’s administrator Deloitte for emergency funding, raising concerns it might fall into liquidation before new owners are found.
Private equity giant Bain Capital has sought to allay concerns it will be a “cut-and-run” investor if it wins the bidding race for Virgin Australia.
Canadian asset manager Brookfield has threatened to walk away from the Virgin Australia sale process in frustration with how Deloitte is managing the process.
Virgin’s administrators have proposed the airline buy a fleet of long-range Boeing Dreamliner 787 aircraft, but prospective buyers are concerned the plan ignores the impact of the pandemic.
The Queensland government has formally entered the race to buy Virgin Australia with a bid to relaunch the collapsed airline and keep it headquartered in Brisbane.
In his first act as Treasurer, Cameron Dick has appointed a government-owned investment company to “facilitate and manage the state’s bid for Virgin airlines”.
Thousands of travellers owed refunds for cancelled Virgin Australia flights may never see their cash again and end up with travel vouchers instead.
Singapore’s $340 billion sovereign wealth fund Temasek has emerged as a possible wildcard in the race for control of collapsed airline Virgin Australia.
American airline investor Indigo Partners approached three of Virgin Australia’s major shareholders about buying a controlling stake in the airline 18 months ago, in a sign it is a serious […]
Virgin Australia’s administrators face a mammoth task dealing with owners of the collapsed airline’s planes, with one lessor already raising concerns about one of its jets remaining in the sky.
After its hopes of help from the Morrison government were dashed, Virgin Australia has no easy way back into the air.
Aircraft owned by Virgin Australia have been prevented from leaving Perth Airport over claims by the airport it is owed millions in outstanding invoices.
The parlous state of Virgin Australia’s finances has been laid bare in court documents which show the failed airline owes its creditors nearly $7 billion.