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. Under the share offer, existing shareholders can purchase one new share for
Qantas is looking ahead to potentially returning further capital to shareholders after concluding a $500 million share buyback. In a regulatory filing to the Australian Securities Exchange on Tuesday, Qantas said its $500 million share buy back program bought back 143.6 million shares for a weighted average price of $3.4819 per share since the program began
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
Qantas is boosting flights between Sydney and Queenstown this coming winter as skiers flock to the popular New Zealand tourist hotspot. The airline plans to operate an additional 13 return flights over July and August, with 11 of those to run on selected weekdays and two scheduled for Saturday August 6th and 13th. “Booking patterns
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
Solomon Airlines has ended a self-imposed shutdown and will return to a full domestic and international schedule from Thursday. The carrier said in a statement it planned to operate one international flight on Wednesday – the evening IE700 departure from its Honiara hub to Brisbane – before returning to a normal schedule on Thursday. Further,
