Virgin Australia is slashing about a third of its headcount, offloading some planes and focusing on shorter flights under its new owner, Bain Capital.
The airline announced a sweeping restructuring plan Wednesday as it works to reduce costs amid the coronavirus pandemic.To adjust to ongoing challenges, Virgin Australia will cut 3,000 jobs, remove some of its aircraft and discontinue Tigerair Australia, the airline's low-cost carrier, it said. It also plans to focus more on domestic and short-haul overseas flights as international travel is largely halted.
It was snapped up by Bain Capital in June after failing to receive the government support it had asked for and filing for voluntary administration.Read MoreEven when the industry recovers, the company believes airlines will"look very different than the way they did previously," according to Virgin Australia CEO Paul Scurrah.
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