US private equity firm Bain Capital is the new owner of Virgin Australia, with the largest group of creditors voting in favour of the $3.5 billion sale on Friday. All your favourites are here, including Shiraz, Cabernet, Pinot, Chardonnay, Sauvignon, Riesling and more Virgin Australia has launched a mega flash sale on flights to some of the country's best holiday spots including Byron Bay and the Whitsundays. But some shareholders had argued there was some value in some of Virgin Australia’s assets, including its frequent flyer scheme. As a result, the former shares were valueless, and the shareholders out of luck. Book online now with no online booking feeˇ . Virgin Australia has brought back its weekly Happy Hour seat sale with prices starting from just $69. But rather than limited routes, Virgin Australia has half-priced seats for sale on all its routes. Virgin Australia's administrators have determined just Bain Capital and Cyrus Capital Partners will get the chance to lodge offers for the stricken airline on June 12. Sign up to our daily aviation news digest. 17 November 2020: Deloitte Restructuring Services partners, and joint Virgin Australia Voluntary Administrators Vaughan Strawbridge, John Greig, Richard Hughes and Sal Algeri today announced the completion of the sale of the Virgin Australia Group, with the shares and the entire business of the airline being transferred to Bain Capital. That’s not just a result of the travel downturn this year. You can find all the flights and necessary sale information on the Virgin website. It happens every Thursday starting at 4 pm and ending at 11 pm on the same day. Virgin Australia is selling flights to Queensland for as little as $85 in a sale that marks the Sunshine State reopening its borders to interstate travellers. It’s not quite the end of legal proceedings for the resurgent airline. Many members who didn’t bail earlier this year and transfer their points to Singapore Airlines’ KrisFlyer accounts while they could are now ruing that decision. That hearing, on Thursday afternoon (New York time) will deal with various Deeds of Company Arrangement, that Virgin Australia is subject to. http://specials.virginaustralia.com/ Find your flights with domestic and international specials on now. Discover our best flight fares with a fantastic choice of food, drinks, award winning entertainment and onboard WiFi. The flexible flying initiative grants passengers unlimited changes with no change fee, with the option to cancel a booking in return for credit with no cancellation fee. Virgin Australia Happy Hour is an exclusive sale that is held every Thursday from 4 p.m. - 11 p.m. A countdown clock is shown when the sale isn't on to let you know when to come back. Based in Melbourne, Australia. There is also considerable disquiet on frequent flyer forums about the future and value of the Velocity frequent flyer program. Stay informed: Sign up for our daily aviation news digest. Virgin Australia has today announced a cheap flight sale that will see over 1.9 million fares from $75 each as borders reopen across Australia Discounted Virgin Australia Lounge Memberships and offers year-round. Dubbed the “Let The Good Times Fly” sale, two million fares are now on sale … In the hearing, Deloitte relied on a largely unused piece of law in Australia’s Corporations Act. The 12-hour ‘Because Everyone Loves a Comeback’ sale, starts at 11.00 am AEST and last 12 hours for travel for selected dates between July 13 to August 31, 2020. Yesterday’s ruling confirms former shareholders are out of pocket. If you were umming and aahing about that Byron Bay holiday you’ve been dreaming about for months, this should be the decisive force you need. Virgin Australia faces a cash crisis and is due to run out of cash by the end of the month, but any sale needs to be approved by creditors who could meet as late as August. Where will that leave its’s widebody fleet? Virgin Australia’s New Flight Sale Will Kick You Across The Country From The Nice Sum Of $69 Get the latest Travel news, features, updates and giveaways straight to your inbox. Tomorrow, Deloitte is heading to the United States Bankruptcy Court in New York to clear the US Chapter 15 bankruptcy hurdle. Working closely with airlines including Qantas and Virgin Australia, Andrew’s first-hand knowledge of the challenges and opportunities facing Australian airlines adds exciting depth and color to his work and sees him providing commentary to ABC News and more. Virgin Australia offers hundreds of domestic and international flights from airports across Australia. In WA Newman, Pt Hedland, and Karratha are on sale […] In 2019, when Virgin Australia took control of 100% of Velocity, the price the airline paid suggested Velocity was valued at nearly US$1.5 billion. We use ads to keep our content free. Mates Rates is the monthly sale that offers you reduced fares when you fly to see friends and family.How to score Mates Rates: Visit this page during the Mates Rates sale period to find eligible faresSign up to Virgin Australia V-mail alerts and be the first to know about Mates Rates sales and other specials This week, Virgin Australia outlined its plans for the future. Had the Velocity program retained its $1.5 billion valuation, an argument based on Section 444GA might well have failed yesterday. They argued the administrators, Deloitte, had pushed through the sale process and did not get full value from the collapsed airline. Ends 15 Feb AEST. What they do with Velocity will also be worth keeping an eye on. This sale is now over. Frequent flyers have proved a bright spot for most airlines this year and largely resilient to the travel downturn. Now, Deloitte says Velocity is valued at less than $500 million. Virgin Australia has launched a half-price flash sale following its phone lines being swamped after the announcement of the Australian government-subsidized 800,000 seat sale from April 1, to support the airline industry. Virgin Australia on sale. From literally right now you’ll be able to snag a discounted fare on 1.9 million flights as part of the airlines Let The Good Times Fly sale, … In 2019, when Virgin Australia took control of 100% of Velocity, the price the airline paid suggested Velocity was valued at nearly US$1.5 billion. While Virgin Australia has kept flying will in administration and throughout the sale process, it is flying at significantly reduced levels. Get the family together and let the good times fly ️ with up to 35% off flights around Australia. Lead Journalist - Australasia - A Masters level education and appetite for travel combines to make Andrew an incredible aviation brain with decades of insight behind him. Cyrus Capital was a surprise addition to the final field, chosen from about eight indicative bids submitted on Friday. The seats go on sale between 5pm … The shareholders questioned this new valuation. Others are now burning their points on what they can. Virgin Australia has launched a bonkers sale offering Aussies 2 million flights starting at the dirt-cheap price of $75. Sale extended. Welcome to Virgin Wines Australia – the best boutique, exclusive wines from around the world available to buy online, delivered direct to your door. However, there will also be some differences. Virgin Australia is today launching a 12-hour comeback sale – with one travel expert admitting holidaymakers will need to balance COVID-19 concerns and … Earn travel credits when you spend $20,000 or more on eligible flights It’s also a matter of keeping day to day operating costs to a bare minimum. “So we’re doing everything in our power to get Australians travelling again, and that starts with a great value fare that includes baggage, seat selection and Velocity frequent flyer points.”. promise of international travel feels worlds away. It commenced services on 31 August 2000 as Virgin Blue, with two aircraft on a single route. Over the past few months, Virgin Australia has taken a very parsimonious approach to its operations. After a hiatus of several months, Virgin Australia Happy Hour sales are back with Economy fares from $69 & Business class starting from $250! The discount flights are on offer for travel dates between March and September 2021. The ruling came despite two shareholders challenging the transfer. That makes the write down of the Velocity program somewhat unusual. The new Virgin Australia will have many similarities to the old one. The Happy Hour sale is essentially a time-limited flash sale. “The reopening of borders provides Australian travellers with another opportunity to go on a holiday, reconnect with loved ones and to conduct business,” Virgin said in a statement. Note that the program is only eligible for flights booked prior to March 31st and for travel up to June 30th. Virgin Australia, the trading name of Virgin Australia Airlines Pty Ltd, is an Australian-based airline.It is the largest airline by fleet size to use the Virgin brand. Be in the know. You can get domestic flights for as low as $69 on one-way flights and once in a while, they will offer special prices on international flights. Book Destinations Fly with us Flying Club Please Support us by turning off your adblocker. In the hearing, as reported in The Australian Financial Review, Deloitte’s legal representatives agreed there was some residual value in parts of the airline, but liabilities far outweighed these. From literally right now you’ll be able to snag a discounted fare on 1.9 million flights as part of the airlines Let The Good Times Fly sale, which ends midnight AEST on February 8, 2021. Now, Deloitte says Velocity is … It suddenly found itself as a major airline in Australia's domestic market after the collapse of Ansett Australia in September 2001. It’s all about protecting Virgin Australia’s US assets and helping them deal with US creditors. With Bain set to take full control of Virgin Australia this month, all eyes are on what they will do next. Sydneysiders will be able to indulge in $75 one-way fares between Sydney and Ballina/Byron as well as the $78 one-way tickets between Sydney and Melbourne. This deal may be over but you can still book other great offers with Virgin Australia below. Book hotels, cars, travel insurance and holidays. Premier services await you at the Sydney Lounge (Sydney Kingsford Smith International Airport -SYD) where you can avail of your Velocity Frequent Flyer membership to get premium entry, Wi-Fi access, and other amazing perks. At close of business, the $3.5 billion sale of the Virgin Australia Group, with the shares and the entire business of the airline transferred to Bain Capital, was completed. Whilst the promise of international travel feels worlds away, there’s truly never been a better opportunity to see what this country, in all its infinite glory, has in store for you. Virgin Australia has launched a bonkers sale offering Aussies 2 million flights starting at the dirt-cheap price of $75. In other words, get ready to throw your cold, hard cash at a number of flights. Book Virgin Australia flights to destinations in Australia and around the world. On Tuesday, a Federal Court in Sydney cleared the way to transfer over 8 billion Virgin Australia shares to new owners, Boston-based Bain Capital. Virgin Australia is launching a huge flash-sale Friday night for two-hours only between 5-7pm AEDT – three weeks before the government's incentive. necessary sale information on the Virgin website. Learn more. Check out the latest flight specials on offer. “Open borders also means more jobs for our people, and we want to get as many of our stood-down crew back to work as soon as possible. Fly the cheapest route from $67 each way taking off from Adelaide to … If you’re anxious about yet another holiday being cucked by coronavirus, Virgin has confirmed that its booking flexibility program will remain in place until June 30th 2021. Never miss what you care about, become an Observer today. Perhaps an early Autumnal romp in Byron followed by a bleak midwinter trip spent cradling a mulled wine in one of Melbourne’s many fantastic bars? To celebrate borders re-opening, Virgin Australia is slinging almost two million domestic airfares from as little as $75. Virgin Australia’s long road to new ownership and a relaunch is almost over. There have been some big promises and already some disappointments. It was enough to catch the eye of some disgruntled and out of pocket shareholders. Some of the shareholders asked why the frequent flyer program, Velocity, had been significantly devalued. What’s a US bankruptcy court got to do with an Australian airline? Follow these easy steps to disable AdBlock, Follow these easy steps to disable AdBlock Plus, Follow these easy steps to disable uBlock Origin, Follow these easy steps to disable uBlock, Boeing Reveals Investment Firm Order For 24 737 MAX 8s, Austrian Airlines Reveals Details Of New Buy On Board Menu, How A Boeing 747 Dreamlifter Once Landed At The Wrong Airport, Hellenic Hopes For Heathrow: SKY express Sees Summer Opportunity, JetBlue Shakes Up Boarding Order Moving Back To Groups. In addition, the transfer of the shares needs the tick of approval from the US court. Receive monthly progress reports from a dedicated account management team. Virgin Australia Happy Hour Sale. Virgin Australia's latest sale makes getting over the mid-week hump that much easier. The recently sold airline is keen to get back to business. *T&Cs apply. Welcome to Virgin Atlantic. The looming sale of Virgin Australia will be "a very competitive process" involving "high-quality bidders with fantastic credentials and the ability to restructure this business. Section 444GA allows the transfer of shares if the court finds they have no value. But the Judge agreed with Deloitte’s lawyers, and the transfer of shares to Bain Capital will take place next week. Notably, the carrier will revert to an all Boeing 737 fleet.