Air Transport World

Virgin Blue.(Asia/Pacific report)(Brief Article)

Virgin Blue plans to acquire further aircraft and undertake a major expansionary drive, capitalizing on estimated net proceeds from last month's 25% share flotation of A$374-A$378 million ($268.1-$270.9 million). The offering valued the carrier at A$1.9-A$2.3 billion.

As part of the float, Virgin Group reduced its holding from 46% to 29.1% fully diluted while its partner Patrick Corp. invested a further A$127 million to retain a dominant 45. …

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