May 15, 2020 - Economy & Business

An airline deal frenzy as Virgin Australia faces takeover

Dan Primack, author of Pro Rata

Illustration: Sarah Grillo/Axios

Virgin Australia (ASX: VAH), Australia's second-largest airline, which filed for bankruptcy last month, is expected to receive upwards of eight indicative takeover bids today, per Reuters.

Why it matters: Because it reflects the high value of duopoly, even in the midst of a pandemic that has been catastrophic for airlines.

  • Suitors include Bain Capital, Brookfield, BGH Capital/Temasek, and India's InterGlobe Enterprises.

The bottom line: "The offers ... will be whittled down to a shortlist of about three in coming days. ... The administrators at Deloitte aim to restructure what is the biggest Asia-Pacific casualty of the coronavirus crisis hitting the global aviation industry, and agree to deal with a buyer by the end of June." — Paulina Duran & Scott Murdoch, Reuters

Go deeper: Air travel will never be the same after coronavirus

Go deeper

As techlash heats up again, here's who's stoking the fire

Illustration: Aïda Amer/Axios

As controversies around online speech rage against a backdrop of racial tension, presidential provocation and a pandemic, a handful of companies, lawmakers and advocacy groups have continued to promote a backlash against Big Tech.

The big picture: Companies like Facebook and Google got a reputational boost at the start of the coronavirus lockdown, but that respite from criticism proved brief. They're now once again walking a minefield of regulatory investigations, public criticism and legislative threats over antitrust concerns, content moderation and privacy concerns.

Cities are retooling public transit to lure riders back

Illustration: Sarah Grillo/Axios

After being told for months to stay away from others, the idea of being shoulder to shoulder again in a bus or subway terrifies many people, requiring sweeping changes to public transit systems for the COVID-19 era.

Why it matters: Cities can't come close to resuming normal economic activity until large numbers of people feel comfortable using public transportation.

The policies that could help fix policing

 Illustration: Sarah Grillo/Axios

George Floyd's death has reignited the long and frustrating push to reform a law enforcement system whose systemic flaws have been visible for years.

Why it matters: Solving these problems will require deep political, structural and cultural changes, experts and advocates say — but they also point to a handful of specific policy changes that, while not a cure, would make a difference.