Virgin Australia Holdings Ltd said on Wednesday it is returning a third of its fleet of Boeing Co 737 planes to lessors and financiers as part of a turnaround plan under new owner Bain Capital.
) 737 planes to lessors and financiers as part of a turnaround plan under new owner Bain Capital.
“Once demand returns, it remains our goal to grow our fleet to 75 Boeing 737 aircraft,” the spokeswoman said. Under Bain’s business plan, Virgin plans to cut a third of its workforce and ditch its widebody planes to focus on being a domestic and short-haul international 737 operator competing against Qantas Airways Ltd .
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