Virgin Australia is one of the prominent airlines in Australia. Founded in 2000, the airline underwent several transformations over the years. In 2020, amidst the significant impact of the COVID-19 pandemic on the aviation industry, Virgin Australia Holdings went into voluntary administration.
During the administration process, the company sought financial restructuring and secured new investors to emerge from voluntary administration. In August 2020, Bain Capital, a private equity firm, acquired Virgin Australia Holdings. This acquisition was followed by strategic changes and operational reorganizations aimed at revitalizing and strengthening the airline's position in the market.
Prior to the pandemic, Virgin Australia was a direct competitor to Qantas Airways, another major Australian airline. The airline operated domestic and international flights to various destinations within Australia, as well as to New Zealand, the South Pacific, the United States, and Southeast Asia.
Virgin Australia was known for its modern service style and a more relaxed approach compared to some of the more traditional airlines. It also forged strategic partnerships, such as its alliance with Virgin Atlantic and other partner airlines in mileage programs.
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