Originally Posted by
dr dre
Wasn't the pitch to investors based on Virgin ceasing operations?
Of course it was. However, the investment wasn’t signed on the dotted line until late last year and not even funded until earlier this month.
Plans change and PAG would know very well Virgin are here to stay. Yet the investment continued.
They own more than $40 billion in assets, a company like that (Bain as well) doesn’t just throw away money for the sake of it. They can see opportunities and there are in fact opportunities. It’s just a matter of the painfully slow process to find what works and what doesn’t.
A perfect example is the Gold Coast. Business travel not recovering? Okay, what’s making money currently? Tourism is starting to increase again so let’s look at leisure destinations. As the frequent flyer program isn’t set up as yet it may be a better idea as leisure travel has less of a need for these benefits.
Qantas fly leisure routes too. It doesn’t change their identity though