Before Friday’s deadline for non-binding initial offers, investment firms Brookfield, BGH Capital and Bain Capital have emerged as the favourite parties to lead consortiums that buy the beleaguered airline. 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. Virgin Australia is reportedly the target of at least two private take-over bids as both the government and its major shareholders turn their backs on a bailout. [17], In May 2016, HNA Group (part owner of Hainan Airlines), announced plans to purchase a 13% stake in Virgin Australia Holdings, which if approved will see existing owners' shares diluted. There will be no return to Virgin's major shareholders, which include Singapore Airlines, Etihad Airways, China's Nanshan Group and HNA and Sir Richard Branson's Virgin Group. April 16, 2020 10.23pm EDT. [30], In March 2016, Air New Zealand announced plans to divest itself from Virgin Australia Holdings. "[34] The airline originally had its head office in Fortitude Valley. Bottom line. Richard Branson’s Virgin Group stands to lose much of its investment in Virgin Australia in the restructure. A Virgin Australia plane at Kingsford Smith International Airport in Sydney, Australia, March 21, 2020. In October 2020, Virgin Group took a 5 % stake in the company. Qantas boss Alan Joyce talks to Kerry O'Brien on ABC Radio National's Big Ideas. ACTU president Michele O'Neil said the union would continue working with Bain Capital and Virgin management to "ensure they keep to their commitments and that Virgin workers who stay with the airline are treated with respect, and have good jobs with fair pay and conditions". On 17-Nov-2020, Virgin Australia stated Deloitte Restructuring Services partners, and joint Virgin Australia voluntary administrators Vaughan Strawbridge, John Greig, Richard Hughes and Sal Algeri announced the completion of the sale of the Virgin Australia Group, with the shares and the entire business of the airline being transferred to Bain Capital. [27] The Queensland Government announced they had partnered with Bain Capital offering $200 million in return for maintain the airline being in Queensland. The airline has since grown to directly serve 33 cities in Australia, from hubs in Brisbane, Melbourne and Sydney. Virgin Australia is currently owned by a number of major shareholders including Sir Richard Branson. American private equity firm Bain Capital will be the new owner of Virgin Australia after its only rival pulled out of the race in a shock move. [10] In September 2012, Etihad Airways purchased a 10% shareholding, this was later increased to 20%. 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