Quick Answer: Who Actually Owns Virgin Airlines?

Does China own Virgin Airlines?

Major Virgin owners HNA Group – which is now 100% controlled by the Chinese Government – and Nanshan, which bought into the airline at the same time and whose owner is a long time Communist Party apparatchik, had arranged to create the nation’s biggest flight training school in Tamworth NSW..

What is HNA China?

HNA Group Co., Ltd., is a Chinese conglomerate headquartered in Haikou, Hainan, China. Founded in 2000, it is involved in numerous industries including aviation, real estate, financial services, tourism, logistics, and more. It is a part owner of Grand China Air, and owns 25% of Hilton Worldwide.

How much tax has Virgin Australia paid?

Indeed, the national carrier has paid no tax on an humongous $62 billion in total income over the four years of available Tax Office transparency data. Virgin, with its $18 billion and zero tax payable, is a midget by comparison.

Does Richard Branson own just giving?

Virgin Money Giving has not been owned by Richard Branson since 2018. But even though Branson himself might not be making a direct profit from donations, people have emphasised that these fundraisers raise Virgin’s profile (even if this specific company isn’t technically owned by him).

Is Virgin Australia still operating?

Virgin Australia will continue to review its network in line with travel demand and as states as borders reopen. If you have been impacted by the recent flight cancellations and still wish to travel, you may rebook using the travel credit issued to a Travel Bank or Conditional Credit.

Does Branson still own Virgin Airlines?

Branson founded Virgin Atlantic in 1984 and has a 51% stake alongside US airline Delta with 49%. Virgin Atlantic lost over $100 million in 2017 and 2018, the two most recent years for which its accounts are available.

How much of Virgin is Australian owned?

Mr Branson’s Virgin Group owned 10 per cent of Virgin Australia when the coronavirus pandemic grounded its fleet and forced it into voluntary administration in April owing $6.8 billion.

Is Virgin Australia still in administration?

Virgin Australia has confirmed it has entered voluntary administration – making it Australia’s first big corporate casualty of the coronavirus pandemic. The airline is now seeking new buyers and investors, after failing to get a loan from Australia’s government. …

Who bought Virgin Airlines 2020?

US private equity firm Bain Capital is the new owner of Virgin Australia, with the largest group of creditors voting in favour of the $3.5 billion sale on Friday.

Who is interested in buying Virgin Australia?

Two of four Virgin bidders fresh from airline strife New York-headquartered investment fund Cyrus Capital, US private equity firm Bain Capital, local fund BGH and American budget airline owner Indigo Partners have moved through to the second round, sources close to the process said.

Who are the major shareholders of Virgin Australia?

VAH’s main owners are Nanshan Group, HNA Group, Singapore Airlines and Etihad Airways. The company’s founder Sir Richard Branson/Virgin Group remains as a 10% shareholder.

Is Virgin airlines going out of business?

Virgin Atlantic Airways has filed for bankruptcy protection for its United States business, as it tries to nail down a £1.2 billion ($1.6 billion) rescue plan announced last month. … The company is not yet going out of business or liquidating its operations, which is what Chapter 7 bankruptcy protection is for.

Is Richard Branson a billionaire?

As the billionaire chairman, Branson has overseen approximately 500 companies and is known for his charisma and eccentric behavior. He’s built up a net worth of an estimated $4.4 billion, which is largely tied to The Virgin Group.

Has Virgin Australia ever made a profit?

Virgin Australia sees record rise in profits but warn of clouds on horizon. … Virgin Australia has swung to a $54.8 million profit in what the airline called its best first-half result since 2008, though market uncertainty has prevented it from providing any full-year outlook.

Has Virgin been sold?

WELLINGTON, New Zealand — Virgin Australia’s creditors agreed Friday to sell the airline to Boston-based Bain Capital in a deal that will see the carrier cut 3,000 jobs and end many of its international flights. Support our journalism. … Virgin’s creditors are owed a total of about AU$7 billion.

Is Virgin Atlantic in financial trouble?

Like other airlines, Virgin Atlantic’s finances have been hit hard by the collapse in air travel due to the pandemic. … “As a result of the Covid-19 pandemic, the group is now undergoing a liquidity crisis.”

Who is Virgin Airlines owned by?

Bain CapitalVirgin Australia has been bought by US private equity group Bain Capital after falling into administration due to coronavirus travel restrictions. The airline was struggling with long-term debt of A$5bn (£2.55bn; $3.17bn) even before the pandemic struck.

Is Richard Branson selling Virgin Atlantic?

Weiss confirmed reports that Virgin was seeking support from third party investors “or, as a last result, HM Government.” The statement continued: “Further, our shareholders remain committed to supporting the airline and Richard has no intention of selling Virgin Atlantic.”

Does Richard Branson own Virgin Money?

Virgin Money has been paying Virgin Group, which is 100% owned by Branson, a billionaire, about £11m-£12m a year in licence fees to use the Virgin name since the takeover.

How much of Virgin Australia does Richard Branson own?

10%Virgin Australia shareholder composition Sir Richard Branson’s Virgin Group owns 10%.

What percentage of Virgin Airlines does Richard Branson own?

51%His available cash is much less at £520 million. He has already pledged $250m to help his companies, and is offering his island, Necker, as loan collateral. Regardless, he sought to shift the focus to Virgin Atlantic, which he owns 51% of.