Virgin Australia will return to the skies under new owners Bain Capital with a pared-back fleet of 56 Boeing 737 jets flying to an equally slimmed-down domestic network.

The airline’s workhorse Boeing 737 fleet numbered 85 before it collapsed into administration on April 21.

However, when demand lifts to pre-COVID levels, the airline aims to have more than 75 Boeing 737s parked in its hangars.

A ‘fleet and network update’ email sent by Virgin Australia Chief Operations Officer Stuart Aggs to all airline staff, and sighted by Executive Traveller, advises that the airline "has been successful in renegotiating the terms on 54 737-800 and two 737-700 aircraft, taking our total fleet size to 56 when we exit administration."