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Virgin Blue Holdings Limited
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Virgin Blue Holdings Limited is the company that owns and operates Virgin Blue, V Australia, Pacific Blue and Polynesian Blue Airlines. Its main shareholders are Toll Holdings and the Virgin Group.
Ownership History
Virgin Blue was formed in 2000 as a wholly owned subsidiary of the Virgin Group.
In 2001 the then Air New Zealand owned Ansett Australia made a buyout offer of $250 million which, in his typically flamboyant style, was publicly rejected by Richard Branson.[1]
In 2002 Virgin came to an agreement with Patrick Corporation to invest in the airline, to allow it to grow into a national airline, filling the void left by the demise of Ansett Australia.[2]
In return for a 50% share of the company, Patrick invested $AU260 million. At the time, the view was that Patrick's shareholding would also allow the company to benefit from their new shareholders political connections with the Howard Government, and also 'Greenwash' the company, allowing it to be described as Australian-owned. [3]
In 2003 Virgin Blue Holdings Limited was floated on the Australian Securities Exchange as Virgin Group sought to sell down its holdings.[2]
Notes and references
External links
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