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Australia’s number two airline, Virgin Australia will layoff 3000 employees, and offload its long-haul international jets as part of its restructuring plan under new owner Bain Capital.
The airline, which went into voluntary administration in April owing $6.8 billion outlined a plan on Wednesday to become a “stronger, more profitable and competitive” carrier.
Virgin Australia said this morning that it will strip its fleet of 132 aircraft back to just its 79 Boeing 737s., and offload its long-haul Boeing 777s, Airbus A330s, Tigerair Airbus A320 and ATR turboprops.
Tigerair Australia brand discontinued with Air Operator Certificate (AOC) retained to provide option for ultra-low-cost operations when market recovers.
“Our aviation and tourism sectors face continued uncertainty in the face of COVID-19 with many Australian airports recording passenger numbers less than three per cent of last year and ongoing changes to government travel restrictions,” said Virgin Australia Group CEO and Managing Director Paul Scurrah.