On 4 September 2020, Virgin Australia creditors voted to approve the airline’s sale to U.S. private equity firm Bain Capital for $3.5 billion. This was the final major hurdle in bringing Virgin Australia out of voluntary administration and avoiding liquidation. The sale is expected to be completed by the end of October. So, how did Virgin Australia get to this point and where is it going from here?
After launching as a low-cost carrier in 2000 (Virgin celebrated its 20th anniversary this week with no fanfare), then relaunching as a full-service airline in 2011, it’s now planning to reinvent itself a second time as a “value” carrier. Is this a Goldilocks moment or does the new Virgin 3.0 risk getting squeezed out of the market?
In Episode 44 of the AFF on AIR podcast, Matt tells the story of Virgin Australia and what’s next for Australia’s second-largest airline as it emerges from voluntary administration with a new owner and a new vision.
Listen now to AFF on AIR Episode 44: “Virgin Australia Sold to Bain Capital”
You can also view the episode notes. If you’d like to discuss this episode, ask Matt a question or suggest a topic for a future episode, you can join the discussion on the AFF on Air Discussion thread.
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