Transformation plans

The Virgin Australia transformation is largely complete, now for the financial transformation

Just the day before Virgin Australia tapped its shareholders to the tune of $852 million, Qantas announced it had finished returning $500 million to its own shareholders via a share buyback.

That’s a pretty stark illustration of the financial situation of Australia’s two major airline groups, one of which is calling on its shareholders for cash to service debts and stabilise its balance sheet, while the other is returning cash on the back of bumper profits.