iscoverVirgin Australia’s $852 million capital raising and $152 million share placement with HNA will be enough to cover the airline group’s near-term funding needs, S&P Global Ratings says. The capital raising along with the $159 million share placement with China’s HNA Group brings to $1.011 billion Virgin has raised since it announced a capital structure
Virgin Australia plans to raise $852 million in fresh capital through a share offer to existing shareholders and shed aircraft as part of efforts to improve its balance sheet. The company announced the two initiatives on Wednesday, after concluding its capital structure review. This content is available exclusively to Australian Aviation members. Login Become a
Virgin Australia looks set to have a second major investor from China on its share register after Air New Zealand announced plans to sell the bulk of its stake in the Australian carrier to diversified conglomerate Nanshan Group. In a statement to the Australian Securities Exchange and New Zealand’s NZX on Friday (the airline is
Members of Virgin Australia’s Velocity frequent flyer program can now earn points and status credits for intra-Europe flights as a result of an expanded partnership with Italian flag carrier Alitalia. While Velocity does have an existing partnership with Germany’s airberlin, its six million members could only earn points, and not status credits, on airberlin operated and
Virgin Australia has applied to the International Air Services Commission seeking traffic rights to operate daily services from a “major Australian gateway” to both Hong Kong and Beijing as part of its newly-announced alliance with Hainan Airlines parent company HNA. “As part of a proposed alliance with the HNA Aviation Group Co. Ltd, Virgin Australia International
Hainan Airlines’ parent company HNA Group is to take an equity stake in Virgin Australia as part of a new commercial alliance announced on Tuesday. The Chinese airline and aviation conglomerate and Virgin Australia have signed a heads of agreement to form a “strategic commercial alliance” where HNA will take an initial 13 per cent
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