Company Overview of Virgin Australia Holdings Limited
Virgin Australia Holdings Limited operates domestic and international airline business in Australia. It operates through Virgin Australia Domestic, Virgin Australia International, Velocity, and Tigerair Australia segments. The company’s aircraft flies to a range of Australian domestic ports, including regional network operations, as well as international destinations comprising of Trans-Pacific, Middle East, Trans-Tasman, Pacific Island, and South East Asian routes. Its fleet includes Boeing 737 and Boeing 777, Airbus A320 and A330, ATR, Embraer E190, and Fokker F50 and Fokker F100 aircrafts. The company serves leisure, corporate, government, and regional markets. It has strategic alliances ...
56 Edmondstone Road
Bowen Hills, QLD 4006
Founded in 2000
Key Executives for Virgin Australia Holdings Limited
Chief Executive Officer, Managing Director, Executive Director and Member of Safety & Operational Risk Review Committee
Total Annual Compensation: A$2.8M
Chief Operating Officer
Total Annual Compensation: A$1.2M
Chief Executive of Virgin Australia Regional Airlines and Virgin Australia Cargo
Total Annual Compensation: A$1.1M
Chief Executive Officer of Tigerair Australia
Total Annual Compensation: A$724.0K
Chief Customer Officer
Total Annual Compensation: A$1.0M
Compensation as of Fiscal Year 2015.
Virgin Australia Holdings Limited Key Developments
Singapore Airlines Deferred The Acquisition Of Virgin Australia
Jun 24 16
Singapore Airlines Limited (SGX:C6L) has deferred the idea of buying majority stake in Virgin Australia Holdings Ltd. (ASX:VAH) which it was planning to acquire after the reported news of the acquisition of 25.9% stake in Virgin Australia by Air New Zealand Limited (NZSE:AIR).
Virgin Plans To Raise Funds
Jun 15 16
Virgin Australia Holdings Limited (ASX : VAH) plans to raise $852 million and sweep the broom through its operations by cutting its aircraft fleet and workforce. The company recently announced $159 million share placement which will give the company $1.01 billion in new equity capital.
HNA To Buy Virgin Australia Stake As Air New Zealand Looks To Exit
May 31 16
Virgin Australia Holdings Limited (ASX:VAH) on May 31, 2016 said HNA Aviation Group Co., Ltd. will buy a major stake, giving a vital cash injection and greater access to the surging Chinese tourism market just as top shareholder Air New Zealand Limited's (NZSE:AIR) plans to sell out. The proposed deal will see HNA Aviation, the largest private operator of airlines in China, invest AUD 159 million through an equity placement, giving it a 13% stake with plans to go up to 19.99%. "This is a strategically important alliance," Virgin Australia Chief Executive officer John Borghetti told reporters. "They've discussed their desire to get (to 19.99%) as quickly as possible." The deal is separate to Air New Zealand's plans to sell its stake in Virgin Australia, which will represent 22.5 per cent of the airline after the diluting impact of the new share issue is taken into account. It is not clear why HNA Aviation which has announced at least $10 billion worth of overseas M&A this year - did not purchase the New Zealand company's share. An Air Zealand representative declined to comment on that sale, which is still open. Air New Zealand's 25.9% stake will be diluted to 22.5% after the initial placement, Virgin Australia said. Borghetti said the HNA deal had not been discussed with Air New Zealand prior to May 31, 2016 announcement.
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