Virgin Australia travel tips

Airlines around the world are ripping up schedules and bringing in new flights to cope with a COVID-triggered trend in corporate travel for executives like Jerome Harris – the scrapping of one-day business trips in favour of longer stays.

The future of Australia’s newest low-cost airline is in the balance. On Tuesday, Bonza suddenly canceled its entire flying program and entered voluntary administration, a form of protection from creditors.

Bain Capital-owned Virgin Australia‘s Chief Development Officer David Marr, who was assigned to lead the airline’s plans for an eventual initial public offering (IPO), has stepped down from his role, a spokesperson said on Tuesday.

Good morning from Skift. It’s Wednesday, October 11. Here’s what you need to know about the business of travel today.

Bain Capital-owned Virgin Australia said on Tuesday that the airline returned to a profit for the first time in 11 years for fiscal 2023, buoyed by a strong recovery in travel demand following the COVID-19 pandemic.

Bain Capital said on Monday it is looking to relist airline Virgin Australia, in a move that would come as the domestic aviation market bounces back strongly from pandemic lows.

Virgin Australia is in talks with banks for a loan of up to $296.4 million (A$450 million) to pay its private equity owner Bain Capital before the airline’s re-listing planned for later this year, two sources with direct knowledge of the matter said.

Australia’s flagship carrier, Qantas Airways, on Tuesday named finance chief Vanessa Hudson as its next CEO, making her the first woman to lead the century-old airline.

Bain Capital’s Virgin Australia airline is aiming for a A$1 billion ($665 million) listing on the Australian Securities Exchange (ASX) in November, according to a source with direct knowledge of the matter.