Virgin Australia

In 2000, Richard Branson and Brett Godfrey launched an airline called Virgin Blue with just two aircraft and a single route. An opportunity for growth came unexpectedly when major competitor Ansett Australia collapsed in 2001, allowing Virgin Blue to expand its fleet and become a major player in the domestic market. The airline initially operated as a low-cost carrier, even printing its website on the planes to save on advertising. A significant shift occurred in 2011 when the airline rebranded to Virgin Australia. Under new CEO John Borghetti, it moved from a low-cost model to a full-service carrier, introducing business class and aiming to compete directly with Qantas. The company's trajectory took a dramatic turn in April 2020. Facing financial troubles and the severe impact of the COVID-19 pandemic, Virgin Australia Holdings entered voluntary administration. This led to its acquisition by US private equity firm Bain Capital in November 2020. Under new ownership, the airline was restructured, focusing on being a mid-market carrier and streamlining its fleet. Following this period of transformation, Virgin Australia returned to the Australian Securities Exchange (ASX) with an IPO in June 2025, marking a new chapter for the airline.