Reuters: Virgin Australia to cut a third of its Boeing 737 fleet under Bain ownership

From Reuters:

“Virgin Australia Holdings Ltd said on Wednesday it is returning a third of its fleet of Boeing Company 737 planes to lessors and financiers as part of a turnaround plan under new owner Bain Capital.

It has renegotiated financing terms for 56 of the 85 737s it held before it entered voluntary administration in April, a Virgin spokeswoman said, with the others to exit its fleet.

“Once demand returns, it remains our goal to grow our fleet to 75 Boeing 737 aircraft,” the spokeswoman said.”