It plans to reemerge with cheap fares as a value-based carrier.Another airline founded by Branson, Virgin Atlantic, last month filed for protection in U.S. bankruptcy court as part of a process in the United Kingdom to carry out a restructuring plan.Due to the pandemic, the creditor meeting was held online. It commenced services on 31 August 2000 as Virgin Blue, with two aircraft on a single route. Co-founded by British businessman Richard Branson, the airline in April became the world’s largest to seek bankruptcy protection after the coronavirus pandemic grounded much of the aviation industry. SYDNEY (Reuters) - Virgin Australia Holdings Ltd's creditors on Friday voted in favour of the purchase of Australia's second-biggest airline by U.S. private equity group Bain Capital, according to a statement from the Transport Workers' Union. We are also rolling out In-Flight WiFi across our fleet, so you can stay connected with the outside world. Our website might also contain third party cookies from our partners. It’s these unique qualities that make our people proudly and unmistakably, Virgin Australia. Virgin Australia has made plans to ground its entire international fleet this morning, as well as suspending all international routes from the end of March. Virgin Australia planes are parked at terminal at Sydney Airport in Sydney, Wednesday, Aug. 5, 2020. International long-haul fare price is based on a return Getaway fare unless otherwise stated. Virgin Australia's in-flight entertainment offerings for international short haul services provide guests with a wide choice of movies, television shows and music. When on board, Business Class guests can enjoy a delicious menu created by renowned chef, Luke Mangan.Virgin Australia’s ‘The Business’ has been awarded Best Business Class twice at the AirlineRatings.com Airline Excellence Awards. The administrators in June signed a binding agreement with Bain Capital, the company co-founded by former Republican presidential candidate Sen. Mitt Romney.Paul Scurrah, the chief executive of Virgin Australia Group, said the sale moves the airline closer to leaving bankruptcy protection and allows it to focus on the future, in which it will continue competing with its larger rival, Qantas Airways.Virgin’s administrator Deloitte said creditors had voted overwhelmingly in favor of the deal in what have been challenging circumstances.“This outcome provides certainty for employees and customers, a return to creditors, and opportunities for suppliers and financiers to continue to trade," Joint Voluntary Administrator Vaughan Strawbridge said in a statement.Under a plan announced previously by Scurrah, the airline will cut back it's workforce to 6,000 and end long-haul routes from Australia to Los Angeles and Tokyo as it resets the business for lower global demand.The airline plans to shed its Boeing 777 and Airbus A330 planes and use Boeing 737s, along with some smaller aircraft for regional and charter flights. )Copyrights © 2020 Business Standard Private Ltd. All rights reserved. Receive two complimentary Velocity Pilot Gold memberships when reaching $2,000. Discounted Virgin Australia Lounge Memberships and offers year-round. Receive two complimentary Velocity Pilot Gold memberships when reaching $2,000. Virgin Australia, the trading name of Virgin Australia Airlines Pty Ltd, is an Australian airline and is one of the largest operating in Australia, and is the largest airline by fleet size to use the Virgin brand. Our Cabin Crew have been awarded World's Best Cabin Crew for 2019 by AirlineRatings.com in recognition of their amazing service.Our award-winning frequent flyer program, Velocity Frequent Flyer, lets you earn and redeem Points for travel to hundreds of destinations worldwide through a huge range of travel and non-travel program partners. So whether you’re flying for business or leisure, you can experience the difference with Virgin Australia.If you want to use our site, you need these cookies. Last Updated at September 4, 2020 09:41 IST Virgin Australia will cut about 3000 jobs as the airline struggles with the effects of the coronavirus pandemic. Currently, Virgin Australia is rolling out their in-flight wireless service, meaning entertainment offerings will be accessible from your personal Wi-Fi … They’ll enable you to move around our site and use its features, such as accessing secure areas of the site – unfortunately, you can’t switch this one off.These cookies are going to make your experience on our site better, like the option to ‘Remember me’. Business Standard is happy to inform you of the launch of "Business Standard Premium Services"As a premium subscriber you get an across device unfettered access to a range of services which include:Welcome to the premium services of Business Standard brought to you courtesy FIS. The airline's budget subsidiary Tigerair Australia will be discontinued.Virgin Australia’s major shareholders are Singapore Airlines and Etihad Airways, along with Chinese investment conglomerates Nanshan Group and HNA Group.

Reductions to Virgin Australia domestic flights Branson holds a 10% stake.The airline sought bankruptcy protection after the Australian government refused its request for a AU$1.4 billion loan.Australia’s Treasurer Josh Frydenberg told reporters at the time his government wasn't going to bail out "five large foreign shareholders with deep pockets who together own 90% of this airline.”Qantas argued that it had three times more revenue than Virgin and was therefore entitled to a AU$4.2 billion loan if the smaller airline was not to gain an unfair advantage.Turn on desktop notifications for breaking stories about interest? Our Business class guests can enjoy our complimentary Lounge access and priority airport services at many airports.


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