Transport group Patrick Corp. is expected to review Virgin Blue's growth strategy in an attempt to rebuild earnings after securing control of the airline in a hostile takeover campaign. Patrick Corp. announced Friday that it had lifted its shareholding from 45.4% to 50.3% through its A$1.90 ($1.49) per share offer despite resistance from Richard Branson's Virgin Group and the Virgin Blue board, which charged that the offer price significantly undervalued the carrier (ATWOnline, March 1). ...

Subscribe to Access this Entire Article

"Printer-friendly" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.