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Virgin changes hands well-placed to tackle challenges, administrators say.

Virgin Australia faces challenging business and aviation environments but is in the best possible place to meet those challenges, lead administrator Vaughan Strawbridge said as the airline officially changed hands late Tuesday.

Australia’s second carrier is now officially under the control of new US owners Bain Capital after the airline’s shares and businesses were transferred over to complete a voluntary administration described as one of Australia’s most challenging.

Virgin was also delisted from the Australian Securities Exchange at close of trading Tuesday.

READ: Aussie fare battle heats up with Jetstar ‘return free’ deals.

Strawbridge, the lead administrator with Deloitte Restructuring Services, said the read more ⇒

Source:: AirlineRatings.Com

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