Daily Memo: Pandemic Stalls Australian Recovery Once Again

By Adrian Schofield Aug 11, 2021
The latest surge of COVID-19 cases in Australia has dealt a crucial blow to local airlines that were beginning to recover some momentum based on their domestic strength. 
Airlines & Lessors

Virgin Australia Defers International Restart Plans

By Adrian Schofield May 13, 2021
The move was prompted by Australian government statements this week that international travel to and from Australia will probably remain at low levels until mid-2022.
Airlines & Lessors

Australian Carriers Add Aircraft As Domestic Capacity Surges

By Adrian Schofield Apr 15, 2021
Qantas and Virgin Australia are continuing to ramp up their domestic services to nearly pre-pandemic levels, with both airlines bringing in more aircraft to boost their domestic fleets.
Airlines & Lessors

Virgin Australia Postpones Plans For International Flights

By Adrian Schofield Feb 02, 2021
Virgin Australia has pushed back its target for resuming short-haul international flights as prospects for a two-way travel bubble with New Zealand appear to be fading.
Airports & Routes

Virgin Australia Restructures MAX Order; No Widebody Return In 2021

By Adrian Schofield Dec 09, 2020
Virgin Australia has cut its Boeing 737 MAX orders by about half but remains focused on narrowbody operations, signaling that a return to widebody flying is still on the agenda but remains a long-term prospect.
Airlines & Lessors

Virgin Australia Relaunches, Outlines Product Changes

By Adrian Schofield Nov 18, 2020
Virgin Australia has emerged from voluntary administration with a new CEO and a revised business model that retains most core elements while making significant adjustments.
Airlines & Lessors

Hrdlicka To Lead Virgin Australia After Scurrah Steps Down

By Adrian Schofield Oct 15, 2020
Virgin Australia has announced that its CEO Paul Scurrah is leaving the company and will be replaced by former Jetstar CEO Jayne Hrdlicka.
Airlines & Lessors

As Virgin Australia Restructures, Joint Venture With Delta On Pause

By Ben Goldstein Sep 11, 2020
Delta Air Lines and Virgin Australia have officially paused their transpacific joint venture, while the latter regroups after the COVID-19 crisis forced it to seek voluntary administration.
Airlines & Lessors

Virgin Australia Cuts 737 Fleet, Renegotiates Leases

By Adrian Schofield Sep 09, 2020
Virgin Australia confirmed plans to keep 56 of its Boeing 737s when it exits the administration process, which means it will cut almost 30 aircraft from its narrowbody fleet compared to pre-COVID-19 pandemic levels.
Airlines & Lessors

Creditors Give Green Light To Virgin Australia Acquisition

By Adrian Schofield Sep 04, 2020
Virgin Australia’s creditors have voted to approve the airline’s sale to Bain Capital, clearing the way for the carrier to emerge from voluntary administration.
Airlines & Lessors

Virgin Australia Creditors To Vote On $2.5B Takeover

By Adrian Schofield Aug 25, 2020
Administrators for Virgin Australia are recommending creditors vote to accept a proposed takeover of the company valued at A$3.5 billion ($2.5 billion).
Airlines & Lessors

Bondholders Withdraw Competing Bid For Virgin Australia

By Adrian Schofield Aug 24, 2020
Private equity investor Bain Capital has a seemingly clear run to complete its acquisition of Virgin Australia after the withdrawal of a rival takeover proposal.
Airlines & Lessors

Virgin Australia To Drop Widebody Fleet, Cut Workforce

By Adrian Schofield Aug 05, 2020
Virgin Australia has revealed plans for its scaled down post-coronavirus operation, which involve major changes to its workforce, network and fleet.
Airlines & Lessors

Virgin Atlantic Seeks Bankruptcy Protection In U.S. Court

By Karen Walker Aug 04, 2020
UK carrier Virgin Atlantic, which is 49% owned by Delta Air Lines, filed for bankruptcy protection in a New York court Aug. 4. The move comes just…
Airlines & Lessors

Bain Capital Wins Contest To Purchase Virgin Australia

By Adrian Schofield Jun 26, 2020
The selection of Bain Capital as the successful bidder for Virgin Australia means the airline will survive in a smaller form and will broadly follow the strategic blueprint developed by the current management team.
Airlines & Lessors

Bain, Cyrus Offer Final Bids For Virgin Australia

By Adrian Schofield Jun 22, 2020
The contest to select a new owner for Virgin Australia has entered the final stages, with the two remaining bidders presenting proposals that call for retaining the core parts of the airline’s operations.
Air Transport

Administrator For Virgin Australia Reveals Final Two Bidders

By Adrian Schofield Jun 02, 2020
The field of suitors for Virgin Australia has narrowed to two, with Bain Capital and Cyrus Capital Partners shortlisted by the administrator as the preferred bidders.
Airlines & Lessors

Virgin Australia Bidders To Be Narrowed To Two

By Adrian Schofield May 29, 2020
The bankruptcy administrator overseeing the Virgin Australia sale is preparing to narrow the bidders to a final shortlist of two candidates, with the winner set to be selected by the end of June.
Airlines & Lessors

Virgin Australia Sale Process Draws 19 Prospective Bidders

By Adrian Schofield May 12, 2020
There are now at least 19 entities expressing interest in buying Virgin Australia during the airline’s administration proceedings, according to court documents.
Airlines & Lessors

Virgin Australia Sale Likely Before July

By Adrian Schofield Apr 30, 2020
At least 20 entities are interested in bidding for Virgin Australia and the administrator for the airline expects the sale process to be completed by the end of June.
Airlines & Lessors

Airport Places Hold On Virgin Australia Aircraft

By Adrian Schofield Apr 24, 2020
Western Australia’s Perth Airport (PER) has seized some of Virgin Australia’s parked aircraft to ensure that the airline can pay money owed to the airport.
Airports & Routes

Etihad ‘Open To Discussions’ On Virgin Australia’s Future

By Victoria Moores Apr 22, 2020
Etihad Airways, which owns 21% of Virgin Australia, has said it was unable to provide further funding to prevent the airline’s entry into administration but remains open to discussions on a possible relaunch.
Airlines & Lessors

Virgin Australia Aims To Relaunch Under New Ownership

By Adrian Schofield Apr 21, 2020
Virgin Australia has entered voluntary administration and the airline’s management is proposing to keep as much of the airline intact as possible when it reemerges under a new ownership structure.
Airlines & Lessors

Government Help Needed For Virgin Airlines To Survive, Branson Says

By Alan Dron Apr 20, 2020
Virgin Group chairman Richard Branson is saying Virgin Atlantic and Virgin Australia will need government support if they are to survive the COVID-19 crisis and keep competition alive in markets that would otherwise become effective monopolies.
Airlines & Lessors

Virgin Australia On Brink Of Voluntary Administration

By Adrian Schofield Apr 20, 2020
Virgin Australia appears likely to enter voluntary administration this week amid the COVID-19 crisis as its options for acquiring the additional funding it needs have almost disappeared.
Airlines & Lessors