Articles tagged “virgin australia”

Latin American Airline Latam Files for Chapter 11 Bankruptcy Protection

Latin American Airline Latam Files for Chapter 11 Bankruptcy Protection

Rama Venkat and Jamie Freed, Reuters

The carrier now faces a hard sell in convincing other shareholders to shore it up with additional financing.

1 week ago

Who Wants to Buy an Airline Now? Virgin Australia Is Wooing Bidders

Who Wants to Buy an Airline Now? Virgin Australia Is Wooing Bidders

Brian Sumers, Skift

Many airlines will go bust during the Covid-19 recovery. But Virgin Australia may just stick around. The airline has lost a lot of money over the years, but it is based in a robust market and has just one major competitor.

3 weeks ago

Virgin Australia Is Latest Airline to Collapse Because of Coronavirus

Virgin Australia Is Latest Airline to Collapse Because of Coronavirus

Rod McGuirk, Associated Press

With up to 10 parties interested in buying the airline, bankruptcy protection gives it breathing space ahead of its next chapter.

1 month ago

Embattled Virgin Australia Faces Imminent Prospect of Voluntary Bankruptcy

Embattled Virgin Australia Faces Imminent Prospect of Voluntary Bankruptcy

Jamie Freed, Reuters

Will there be a last-minute lifeline for the embattled Virgin Australia? The clock is ticking away.

1 month ago

Private Investors Circle Crisis-Stricken Virgin Australia

Private Investors Circle Crisis-Stricken Virgin Australia

Renju Jose and Jamie Freed, Reuters

With this latest acquisition interest, state intervention looks even less likely, leaving question marks hanging over the airline's debt restructuring plan.

2 months ago

Virgin Australia Halts Trading as It Continues Rescue Package Talks

Virgin Australia Halts Trading as It Continues Rescue Package Talks

Jamie Freed, Reuters

Should Virgin Australia fail, Qantas will be the country's only carrier. A monopoly is in nobody's interest, but as Virgin Australia is 90 percent foreign-owned, how likely is the state going to step in with aid having already refused it once? It's a complicated affair.

2 months ago

Flight Centre Shutters 100 Stores in Australia as Coronavirus Roils Travel Sector

Flight Centre Shutters 100 Stores in Australia as Coronavirus Roils Travel Sector

Ben Butler, The Guardian

Bushfires, drought and now coronavirus — can it get any worse for Australia tourism? Hopefully not, but signs are pointing to a darker picture ahead.

3 months ago

Profitless Virgin Australia Axes 750 Jobs as Part of Turnaround Plan

Profitless Virgin Australia Axes 750 Jobs as Part of Turnaround Plan

Angus Whitley, Bloomberg

Job cuts might reduce costs but after seven years of losses, Virgin Australia needs take a much closer look at its business model if it is ever to become profitable. A change in its convoluted ownership structure might help.

9 months ago

More Airlines Restrict MacBook Pros in Checked Luggage

More Airlines Restrict MacBook Pros in Checked Luggage

Angus Whitley, Bloomberg

When it comes to the potential fire hazard posed by certain MacBook Pro batteries, better safe than sorry is a reasonable approach for airlines to take.

9 months ago

Turkish Airlines Keen to Buy HNA’s Stake in Virgin Australia

Turkish Airlines Keen to Buy HNA’s Stake in Virgin Australia

Haze Fan, Ercan Ersoy and Manuel Baigorr, Bloomberg

The Asia-Pacific market is booming and Turkish Airlines wants in. First, it has to slay other suitors as HNA lets go of its Virgin stake.

10 months ago

Virgin Australia Appoints Tourism Veteran as New CEO

Virgin Australia Appoints Tourism Veteran as New CEO

Allan Leibowitz, Skift

All eyes are on Virgin Australia’s new CEO, Paul Scurrah, to see if he can stem the losses and lead the airline into profitability. Scurrah inherits a very different airline from the one John Borghetti joined eight years ago, but shareholders are keen to see profits and a return on their investment.

1 year ago

Qantas and Virgin Australia See Revenue Boost After Cutting Flights

Qantas and Virgin Australia See Revenue Boost After Cutting Flights

Allan Leibowitz, Skift

Experts were tipping a slow-down in travel in Australia due to the falling dollar and rising fuel costs, but the country’s two main airlines are seeing revenue growth, mostly because they have reduced capacity and halted the price war.

2 years ago