Loading
29-Aug-2014 10:48 AM

Affinity Equity Partners to purchase 35% stake in Velocity Frequent Flyer programme

Virgin Australia announced (29-Aug-2014) Affinity Equity Partners would purchase a 35% minority stake in the Velocity Frequent Flyer programme for AUD336 million (USD314 million). The transaction values the programme at AUD960 million (USD897.3 million). Velocity will remain part of Virgin Australia but will receive a separate board of directors. The programme is expected to be "relatively neutral" from a group profit and loss perspective in FY2015. [more - original PR]

Want More News Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More