Virgin Australia will shore up its balance sheet with a new share issue to investors, and will also make significant fleet cuts as part of a wider cost-reduction effort. The carrier expects to raise A$852 million ($630 million) from the share offer, which could lead to changes in the holdings of its major investors. Virgin also intends to find A$300 million in annual savings within three years by cutting costs and increasing efficiency in various areas, although some of this will be offset ...

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