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