Privatisation on the cards for Virgin Australia
The airline has swung to profitability and forecasts continued improvement
Singapore
VIRGIN Australia Holdings Ltd said on Wednesday it was considering going private as it swung to profitability in the first quarter from a loss a year ago and forecast a continued improvement in the second and third quarter.
Australia's second-biggest airline is about 90 per cent-owned by Singapore Airlines Ltd, Etihad Airways, Virgin Group, HNA Aviation and China's Nanshan Group, all of which have representatives on the board.
Privatising the carrier, the primary domestic competitor to Qantas Airways, would allow minority shareholders to cash out and could lead to less public scrutiny of its financial performance, which has been much weaker than it…
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