Virgin Australia

Airlines seldom change hands, and private equity buyouts in the sector are even rarer

The offering, Australia’s largest for the year so far, will see Bain’s stake drop to 39.4% from about 70%

Its new CEO has already started to brief potential domestic investors and will head to Asia for more meetings next week, they add

Virgin Australia is the biggest domestic rival to Qantas Airways

The airline has long struggled to make a dent in Qantas’s domestic dominance

Qatar Airways says it will buy a 25% stake in Australia’s No 2 carrier