The search for a new owner of Virgin Australia is finally over with Bain Capital, a U.S. private investment firm based in Boston, announced as the successful bidder. The other bidder in the running, Cyrus Capital Partners, reportedly withdrew this morning after submitting its final offer last Monday. Virgin’s administrators have now entered into a … Continued
Velocity Frequent Flyer will finally refund Virgin Australia reward seat bookings that have been cancelled, for travel booked until 30 September 2020. This had already been Velocity’s policy prior to Virgin Australia entering voluntary administration. Throughout April and the first half of May, Velocity always said that it would refund the Velocity points & taxes paid … Continued
Virgin Australia will double the number of domestic flights being operated from early July as domestic travel restrictions slowly start to be relaxed. From next month there will be more intrastate flights within Queensland and Western Australia. This will provide more options for travel within the two states during the July school holidays. There will also … Continued
The field of potential Virgin Australia buyers has been narrowed down to two, with Cyrus Capital Partners and Bain Capital now competing to become the new owners of the collapsed airline. The final bids for Virgin Australia, which has been in voluntary administration since 21 April, are due on Friday 12 June 2020. The administrators … Continued
It’s once again possible to redeem Velocity points for Virgin Australia flights, almost four weeks after redemptions were temporarily paused due to Virgin Australia entering voluntary administration. Both Velocity Reward Seat and Any Seat bookings are now available. But it’s not all good news… Before you get too excited, redemptions are now only possible on … Continued
The federal court has approved a proposal by the Virgin Australia administrator to offer restrictive “conditional credits” to Virgin Australia customers instead of refunds. The new policy applies to Virgin Australia, Tigerair and Virgin Australia Holidays bookings made before the airline entered administration on 21 April 2020. Normal refund and travel credit policies – including … Continued
If you have a cancelled Virgin Australia flight, the airline says that you can still request a travel bank credit. If you bought a refundable ticket, such as a Freedom fare, you can also apply for a refund. But Virgin Australia is not currently processing any new refunds or flight credits. In fact, it hasn’t … Continued
Virgin Australia currently owes $6.8 billion – more than previously thought – to around 12,000 creditors, the administrators have revealed. More than 9,000 of those creditors are Virgin employees, which are owed a combined total of $451 million. It also turns out that the trust backing the value of Velocity Frequent Flyer points is owed … Continued
Virgin Australia has committed to extending paid airport lounge memberships by six months due to the COVID-19 travel shutdown. A Virgin Australia spokesperson confirmed to Australian Frequent Flyer that Virgin Australia Lounge members will be notified shortly. Extensions will be processed in the “near future” and members will be contacted directly once this happens. There is no need … Continued
When Ansett Australia collapsed in 2001, Ansett Global Rewards points became instantly worthless. This may have happened 19 years ago, but many former Ansett members have long memories. It’s part of the reason that there has been a rush to cash out Velocity Frequent Flyer points over the past few weeks as Virgin Australia’s financial … Continued
Virgin Australia has officially entered voluntary administration, as it struggles with a crippling $5 billion debt and unprecedented weak demand for air travel. But, this may not be the end for Virgin Australia – which continues to operate flights for now and is desperately working to find a long-term solution. So, what does this all … Continued
Many frequent flyers have been watching the news about Virgin Australia nervously this week. As the airline suspends share trading and considers voluntary administration, the question on everybody’s mind is: “Should I be worried about my Velocity points?” For now, the future of Virgin Australia really depends on whether it gets a lifeline from the … Continued
