VIRGIN WELCOMES APPROVAL

VIRGIN WELCOMES APPROVAL

VIRGIN Australia (ASX: VAH) has announced that Affinity Equity Partners' (Affinity) proposed acquisition of a 35 per cent minority stake in its Velocity Frequent Flyer program is expected to go ahead by the end of October.

The conditions precedent have all been either satisfied or waived

Once complete, the leading Asia Pacific investment firm and fund manager's acquisition will enable VAH (CEO John Borghetti pictured) to accelerate the growth of Velocity Frequent Flyer and fast track its strategy to become one of the world’s leading loyalty programs.

Get our daily business news

Sign up to our free email news updates.

Please tick to verify that you are not a robot

 
Unpacking equity: Finding your funding fit
Partner Content
Armed with a growing business and a great opportunity, a business owner’s next challe...
Australian Business Growth Fund
Advertisement

Related Stories

AI and data dominate 2024 UQ Ventures ilab Accelerator cohort

AI and data dominate 2024 UQ Ventures ilab Accelerator cohort

A shift to a more venture capital (VC) focused investment model has...

JB Hi-Fi faces class action over allegedly "worthless" warranties

JB Hi-Fi faces class action over allegedly "worthless" warranties

Maurice Blackburn Lawyers is seeking refunds for consumers who purc...

Chemist Warehouse engineers $8.8b reverse takeover of Sigma Healthcare

Chemist Warehouse engineers $8.8b reverse takeover of Sigma Healthcare

Australia’s dominant pharmacy chain Chemist Warehouse Group i...

Neobank Volt enters solvent liquidation as wind down continues

Neobank Volt enters solvent liquidation as wind down continues

Numerous entities affiliated with failed neobank Volt have entered ...