Business
Virgin to use shell company loophole to sidestep foreign ownership cap – Sydney Morning Herald
Virgin Australia might be firmly in the hands of US private equity firm Bain Capital, but its long-suffering Australian investors have not walked away as empty…
The nation’s number two carrier collapsed into administration in April last year after the COVID-19 pandemic and associated border closures led to steep falls in domestic and international travel.
The VAIH shell company also went voluntary administration but was revived shortly after US-headquartered Bain took control of Virgin in November following a fierce bidding war for the group.
Reviving VAIH also confirms Virgin’s plan to restart international flying after Bain originally said it would be…
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