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virgin australia sale

January 21, 2021


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Nor can we forget the circumstances in which we found ourselves and the need for an efficient and effective process, given the funding constraints we faced,” he said. Virgin Australia leads Click Frenzy sale with flights from $75 By Katherine Scott | 6 months ago Virgin Australia have teamed up with the folks behind those mega-sales, Click Frenzy, for a three-day online event starting today — launching a full 10-hours before other Click Frenzy participants. “While our formal role with the airline comes to an end, we do continue to represent the interests of creditors as we manage the process to assess claims and make distributions to creditors,” Strawbridge said. Virgin Australia, the trading name of Virgin Australia Airlines Pty Ltd, is an Australian-based airline.It is the largest airline by fleet size to use the Virgin brand. “Since our appointment in April this year, the process has taken seven months to get to this point – a point where the business is ready to hand over to new owners in Bain Capital. Virgin Australia will slash prices on a range of domestic flights in a seven-hour sale on Thursday, with one-way fares as low as $69. “The environment remains challenging for the business and the aviation industry, but the airline is now in the best possible place to meet those challenges and be ready for opportunities that will undoubtedly emerge once COVID is no longer.”, Highlights from new Virgin Australia Group CEO Jayne Hrdlicka's first day, Virgin Australia prepares for the summer storm season, World first meditation flight with Sir Richard Branson, CEO Jayne Hrdlicka's first day in the role, Sir Richard Branson and Virgin Australia hold world-first meditation flight, Velocity Frequent Flyer gifts members 20 million points. The company is not a party to or involved in any proposal of InterGlobe Enterprises in relation to the sale of Virgin Australia, says InterGlobe Aviation Contact us to make a booking, manage your booking, or find out information about Virgin Australia. We want our website to be informative, personal, and as user friendly as possible and cookies and similar technologies help us achieve that goal. “We also thank the unions that have supported their members and worked with us throughout this difficult period, and of course, we could not have continued to trade without the support of, and agreement with, lessors and financiers, service providers to the business and partners. “From the outset, our team strove to create options for the airline’s survival; committed to maintaining staff levels so the airline’s people could remain connected to the business and also access JobKeeper while the sale process was worked through; and understood more fully the implications of COVID-19 on the business, the likely future shape of the business and the speed of recovery of the industry in Australia, which has been very different to the experience around the world given the disruption to internal markets from state border closures. “In difficult circumstances, the focus has always been on the interests of creditors and ensuring that a strong and viable business could emerge from external administration under new and committed owners, and as a contributor to a competitive Australian aviation industry.”, DEEDS OF COMPANY ARRANGEMENT (DOCA'S) - KEY POINTS. We aren’t throwing away the rule book, we’re just taking it on holiday. The sale follows a chaotic 2020 for the travel industry, with the airline now looking to entice back flyers with reduced fares as well asfree booking flexibility. Triggered by the COVID-19 pandemic, it has been a process like no other in Australian corporate history. Given the second COIVD-19 wave in June, our innovative sale structure became hugely significant in achieving, firstly, the survival of the company, and then the successful outcome we see today. You can learn more about how we use these technologies in our Cookies Policy and Privacy Policy. It truly has been a team effort,” Strawbridge said. Would-be owners of Virgin Australia have two weeks to lodge their first offer for the airline. In conclusion, Strawbridge said the next stage in the life of this great airline will be in the hands of Bain Capital. “While the outcome of the process is extraordinary, as Administrators we do acknowledge it has come at a cost for many Virgin Australia employees who have lost their jobs, and suppliers and creditors who will not receive all of the monies owed to them and investors who will receive nothing.”. Lodge their first offer for the airline to Bain Capital, the final say lay with creditors... The very best as they now focus on the future about Virgin Australia website sale starting today – some... Ruling came despite two shareholders challenging the transfer passes creditor vote throwing the! Of Virgin Australia ’ s long road to new ownership and a relaunch is over! Effort, ” Strawbridge said to new ownership and a relaunch is almost over, the say... About how we use these technologies in our cookies Policy and Privacy Policy as now... 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