Virgin Australia: How the Airline Has Changed After the Bain Capital Rescue

History and positioning

Launched in 2000 by Richard Branson as Virgin Blue and renamed Virgin Australia in 2011, the airline entered voluntary administration in 2020 because of the pandemic, emerging thanks to its acquisition by the Bain Capital fund. In 2023 Qatar Airways acquired a 25% stake, and in 2025 Virgin Australia returned to the stock market, completing a five-year recovery that took it from a historic head-to-head rivalry with Qantas to a more clearly defined position as a mid-market alternative. The change of ownership to Bain Capital also brought a significant reduction in fixed costs and a simplification of the fleet structure compared with the pre-pandemic period.

The fleet

Virgin Australia today operates a uniform fleet of Boeing 737-800 and 737 MAX aircraft, positioning itself as a mid-market full-service alternative to Qantas, a fleet simplification compared with the past, when the airline also flew widebody aircraft on international routes that have since been scaled back. The move to an exclusively Boeing 737 fleet has allowed the airline to cut maintenance and training costs significantly compared with the pre-administration period, when it also operated widebody aircraft.

Routes and network

The main hub remains Brisbane, from which a domestic network covering the main Australian cities radiates, with a more limited international presence than Qantas, strengthened by the partnership with Qatar Airways for intercontinental codeshare connections to the rest of the world. The routes to Perth remain among the most important on the domestic network, a strategic link between the east coast and Western Australia, historically tied to the mining sector.

On board and service

The fare generally includes more services than Jetstar but at a lower price than the flag carrier on the same domestic routes. The Velocity loyalty program remains less rich in international partners than Qantas Frequent Flyer, although the partnership with Qatar Airways has partly broadened its reach.

Fares and baggage

Base fares generally include a checked baggage allowance, unlike the Jetstar model, while higher fares offer greater flexibility for changes and lounge access at the main airports for members of the program's top Velocity tiers.

What passengers say

Independent reviews since the change of ownership report a service perceived as improved compared with the pre-administration period, with cabin crew rated positively and a domestic network considered reliable. The most positive reviews often concern the perception of a more consistent and reliable service than in the turbulent period before the rescue.

• Service perceived as improved after the Bain Capital rescue.
• Fares generally lower than Qantas on the same domestic routes, with services still included.
• International connections expanded through the partnership with Qatar Airways.
• Greater ownership stability after the return to the stock market in 2025.

• Delays reported during peak periods.
• Velocity program judged less generous for earning points on partner international flights.
• Own international network more limited than Qantas's.

Virgin Australia is a good middle ground for anyone who wants more services than a low-cost carrier offers without paying Qantas's premium on Australian domestic routes. It is less suitable for those who earn loyalty points mainly on international flights, where the Qantas program remains richer in partners. With the airline publicly listed again after years of ownership instability, still check the change and refund conditions of the fare you choose: they vary more than in the past between the different fare classes.