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Virgin Australia

Virgin Australia

Brisbane, Australia

Industry: Aviation

Region: Australia 🇦🇺

Founded: 2000

Expected Valuation: N/A

IPO Date: 2023 (expected)

Virgin Australia Holdings Ltd.

Key Company Facts

HeadquartersSouth Bank, Brisbane, AU
FoundersRichard Branson, Brett Godfrey
Number of employees5,000 - 10,000
IPO DateNovember 2023
Number of investors5
Total funding$1.1 billion USD
Number of account holders12,000,000
Valuation estimate$1 billion USD

Company Overview & History

Virgin Australia, an Australian airline founded on August 29, 2000, initially operated as Virgin Blue before commencing operations under its current name on May 4, 2011.

The airline’s hubs are located in Brisbane, Melbourne, and Sydney, with focus cities including Adelaide, Alice Springs, Gold Coast, and Perth. With 83 aircraft in its fleet, Virgin Australia services 37 destinations.

The company is headquartered in South Bank, Brisbane, Queensland, Australia. Key figures in the company include Jayne Hrdlicka (CEO), Richard Branson (co-founder), and Brett Godfrey (co-founder and former CEO)

Financial Performance

Virgin Australia has seen considerable financial turbulence in recent years, culminating in voluntary administration in 2020. Following this, private equity firm Bain Capital took ownership, significantly restructuring the company’s finances, including writing off $4.4 billion in debt​2​.

The company has since seen a rebound, with a revenue surge in the first half of the 2023 financial year to $2.5 billion, resulting in the company’s first full-year profit in a decade


YearRevenue (AUD)
2019$3.1 billion
2018$3.0 billion
2017$2.6 billion

Business Model

Virgin Australia operates as a mid-market airline, providing services to a range of domestic and international destinations. It has a frequent-flyer program called Velocity, enhancing customer loyalty and encouraging repeat business. The company also has subsidiaries, such as Virgin Australia Regional Airlines, that extend its reach and services.

Estimated Valuation

YearValuation (AUD)
2020$1 billion

Risk Factors

As with all airlines, Virgin Australia faces numerous risk factors. These include fuel cost volatility, regulatory changes, economic downturns impacting travel demand, and unforeseen circumstances like the COVID-19 pandemic that greatly affected the entire airline industry.

Further risks include competition from other airlines and potential future financial instability.

Market Opportunity

Virgin Australia has potential market opportunities through the ongoing recovery of the travel sector following the COVID-19 pandemic.

There is also the opportunity to capitalize on its positioning as a mid-market airline, potentially attracting customers from both low-cost and high-end airlines.

Additionally, Virgin Australia is planning to relist through an initial public offering (IPO), potentially providing the company with further capital to pursue growth opportunities


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