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Virgin Australia (ASX:VGN), the recently relisted airline, divides fund managers amid fuel price volatility. In August 2026, Pendal Group reported Virgin's FY26 result was in line at EBITDA, with a 5% profit beat from lower depreciation and interest. Firetrail is bullish, arguing aviation has historically been a graveyard for capital but Virgin now has the industry's lowest costs, and noted it is heavily hedged against fuel. Solaris reported a 9% fall as jet fuel spiked, while Blackwattle exited alongside Qantas, citing capacity reductions and softening demand. Virgin Australia operates in the Industrials sector within the Airlines industry, and Thesis Tracker has captured 19 comments from 7 fund managers, including Pendal, Firetrail, Solaris and Blackwattle. Virgin Australia provides domestic and short-haul international flights, the Velocity Frequent Flyer program and partnerships with Qatar Airways and other airlines, and was relisted on the ASX by Bain Capital in 2025.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Tyndall Asset Management, Blackwattle Investment Partners, Firetrail Investments, Regal Funds Management, Pendal Group, Solaris Investment Management and Sage Capital have invested in Virgin Australia Holdings Ltd (ASX:VGN).
Firetrail highlights Virgin's low cost base, a rational domestic duopoly and fuel hedging, and Pendal notes a profit beat.
Solaris and Blackwattle highlight higher jet fuel prices, capacity reductions, route suspensions and softening discretionary travel demand.
Virgin Australia Holdings Limited (VGN) provides domestic and international air travel services to a global customer base. The airline maintains strategic partnerships with several major international carriers, including Qatar Airways, United Airlines, Singapore Airlines, and Air New Zealand, to expand its network and service offerings.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.