The nation’s number two carrier collapsed into administration in April last year after the COVID-19 pandemic and associated border closures led to steep falls in domestic and international travel.
The VAIH shell company also went voluntary administration but was revived shortly after US-headquartered Bain took control of Virgin in November following a fierce bidding war for the group.
Reviving VAIH also confirms Virgin’s plan to restart international flying after Bain originally said it would be focused on the domestic market.
While all shareholders in the ASX-listed Virgin entity were wiped out in the administration process, Virgin said there was “no change” to the VAIH ownership structure which “continues to operate in a legally co…
Read the full article at: https://www.smh.com.au/business/companies/virgin-to-use-shell-company-loophole-to-sidestep-foreign-ownership-cap-20210108-p56spl.html
