Velocity on the sale block?


Old May 13, 19, 7:30 pm
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Velocity on the sale block?

The AFR is reporting Virgin are preparing to offload Velocity in conjunction with its co-owner.
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Old May 13, 19, 9:21 pm
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Virgin Australia is reportedly gearing up to spin out and sell its Velocity Frequent Flyer program, which competes with Qantas Frequent Flyer for the hearts and wallets of Australian travellers.

The loyalty program could be worth several billion dollars to the right buyer, according to The Australian Financial Review, with that money being a welcome injection into the coffers of the parent airline.

Virgin Australia holds a 65% stake in the Velocity loyalty scheme, following the acquisition of a 35% stake by Asia-based private equity firm Affinity Equity Partners in 2014 for $336 million.
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Old May 15, 19, 3:18 pm
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Seems like this comes up every few years.

I'm sure Virgin would happily sell for the right price, but not sure there's a buyer out there.
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