SYDNEY: Virgin Australia moves to re-launch with the announcement that Bain Capital has entered into an agreement with its administrators to become the new owner of the airline. Virgin Australia will now work closely with Bain Capital on its vision for the business moving forward. Virgin Australia Chief Executive Officer and Managing Director, Paul Scurrah,…
Tag: Virgin Australia
Avation Plc announces transition of aircraft leases and sales
SINGAPORE: Avation PLC, the commercial passenger aircraft leasing company, has entered into commercial arrangements in respect of five aircraft that were on lease to Virgin Australia, which entered administration on 21 April. Avation has entered into agreements to lease two of the former Virgin Australia ATR 72-500s to another commercial airline in Australia, until the…
Virgin Australia acquires Velocity Frequent Flyer
SYDNEY: Virgin Australia Holdings Limited announced the completion of the acquisition of Connectivity Pte Ltd’s (Affinity’s) approximate 35% minority investment in Velocity Frequent Flyer Holdco Pty Limited. As a result, Virgin Australia now has 100% ownership of Velocity Frequent Flyer and the award-winning “Velocity” loyalty program. Virgin Australia Airlines Pty Ltd, commonly referred to as…