Virgin Australia Holdings
 |
|
.jpg)
Virgin Australia aircraft at Brisbane Airport
|
|
| Public | |
| Traded as | ASX: VAH |
| Industry | Aviation and tourism |
| Founded | 2000 in Brisbane, Queensland, Australia |
| Founders |
Sir Richard Branson Virgin Group |
| Headquarters | Bowen Hills, Brisbane, Queensland, Australia |
|
Area served
|
Australasia |
|
Key people
|
Elizabeth Bryan (Chairman) John Borghetti AO (CEO) |
| Brands |
Tigerair Australia Virgin Australia Virgin Australia Airlines (NZ) Virgin Australia Regional Virgin Samoa |
| Revenue | A$3.988 billion (2013) |
|
Number of employees
|
9,425 (2014) |
| Parent |
Etihad Airways (21%) Nanshan Group (22.4%) Singapore Airlines (19.8%) HNA Group (13%) Virgin Group (8%) |
| Website | www |
Virgin Australia Holdings Limited is the holding company that owns and operates Virgin Australia and Tigerair Australia. It previously operated Pacific Blue Airlines and joint-venture airline Polynesian Blue which were absorbed into Virgin Australia in December 2011. Its head office is located in Bowen Hills, Brisbane.
Virgin Blue Holdings was formed in 2000 as a wholly owned subsidiary of the Virgin Group.
In 2001, the then Air New Zealand owned Ansett Australia made a buyout offer of $250 million, which was publicly rejected by Richard Branson. In 2002, Virgin came to an agreement with Patrick Corporation to invest in the airline, to allow it to grow into a national airline, filling the void following the demise of Ansett Australia. In return for a 50% share of the company, Patrick invested $260 million. At the time, the view was that Patrick's shareholding would also allow the company to benefit from their new shareholder’s political connections with the Howard Government, and also 'Greenwash' the company, allowing it to be described as Australian-owned.
In 2003, Virgin Blue Holdings Limited was floated on the Australian Securities Exchange as Virgin Group sought to sell down its holdings.
In early 2005 Patrick launched a hostile takeover for Virgin Australia Holdings. Patrick had been unhappy for some time with the company's direction. By the closure of the offer, Patrick held 62% of the company, giving it control. Virgin Group retained a 25% share. In 2006, Patrick Corporation was taken over by Toll Holdings, who maintained the ownership of shares in Virgin Blue Holdings. In 2008 the group announced a plan to distribute 98.3% of its shares in the company to its shareholders, thus making itself no longer a majority stakeholder. At the time Toll Holdings owned 62.7% of the company and had previously attempted to sell the share to no avail.
...
Wikipedia