Rahul Bhatia is evaluating data and considering a bid for Virgin Australia Holdings; he shouldn’t, writes David Fickling
12 May 2020 - 13:13What do you get for the airline magnate who has everything? If he knows what’s best for him, the answer isn’t “another airline”.
Australia, on the other hand, is more or less a duopoly between Virgin Australia — which was itself put into a coronavirus-induced administration last month — and a dominant Qantas Airways. That should offer the opportunity for the two carriers to cozily carve up the market between themselves. It also has close links to India, raising the prospect that an Australian network could feed passengers via international flights into IndiGo’s domestic web of destinations. Indian-Australians make up close to 2% of the population, and the number of non-resident Indians — the subset of the diaspora who are most likely to take regular flights back to the motherland — is the largest after the UK, US, Singapore, Nepal, and the Persian Gulf countries.
Virgin Australia itself spent years trying to break the Flying Kangaroo’s dominance with the backing of strategic overseas players. Ordinary shareholders hold less than 10% of the now-worthless stock, with the balance being held by a rotating cast of carriers including Etihad Airways, Singapore Airlines, Hainan Airlines Holding, Qingdao Airlines, Air New Zealand, and Richard Branson’s Virgin Group itself.
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