Virgin Airlines becomes private company

Description

Virgin Australia is becoming a private company with its shares removed from the Australian Stock Exchange. The federal court this year granted Virgin administrators permission to transfer all shares to its new owner... the American private equity firm, Bain Capital. The 20-year-old airline went into administration earlier this year with debts of almost 7 billion dollars, and its shares were suspended from trading.

Professor Greg Bamber from the Department of Management at Monash Business School and co-author of the book "Up in the Air: How Airlines Can Improve Performance by Engaging their Employees." shares his insights with Ali Crew.

- what does going private mean for the airline? And for its staff?

- what are the likely repercussions for aviation in Australia, and Australian customers?

- It will be a while before air travel resume to what it was before covid, how do you expect Virgin to go through the next few years?