|Bid||0.0000 x 1754400|
|Ask||0.0000 x 1298800|
|Day's Range||0.0000 - 0.0000|
|52 Week Range|
|Beta (5Y Monthly)||0.54|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Virgin Australia Holdings Ltd said on Wednesday it is returning a third of its fleet of Boeing Co 737 planes to lessors and financiers as part of a turnaround plan under new owner Bain Capital. "Once demand returns, it remains our goal to grow our fleet to 75 Boeing 737 aircraft," the spokeswoman said. Under Bain's business plan, Virgin plans to cut a third of its workforce and ditch its widebody planes to focus on being a domestic and short-haul international 737 operator competing against Qantas Airways Ltd.
Virgin Australia Holdings Ltd's creditors voted on Friday in favour of the purchase of Australia's second-biggest airline by U.S. private equity group Bain Capital, administrator Deloitte said, paving the way for a strategic overhaul. The Bain deal gives unsecured creditors a return of 9% to 13% of their investment and involves a financial commitment of A$3.5 billion, according to administrator Deloitte, which said Virgin shares should be transferred to the private equity group by Oct. 31.
Virgin Australia Holdings Ltd's unsecured creditors will receive an average return of 9%-13% of their funds as part of U.S. private equity group Bain Capital's proposed purchase of the airline, administrator Deloitte said in a report on Tuesday. The unsecured creditors include 6,500 bondholders who are owed A$2 billion ($1.43 billion) by the country's second-biggest airline and will receive a return of 8.9% to 13.3%, less than the 14.4% return for critical suppliers. Creditors were owed around A$7 billion when the airline in April entered voluntary administration, Australia's closest equivalent to the U.S. Chapter 11 bankruptcy regime.