The airline has lowered business class fares on some routes up to $299 one waysavings of over $500 on select flights.

The price drop is permanent, Virgin has confirmed, as the airline battles to control a third of Australia’s domestic travel market.

Fares include all the usual business class benefits, including airport lounge access, higher checked baggage allowances, extra legroom, higher Velocity points and tier credits, plated meals and in-flight entertainment.

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Virgin Australia’s premium lounges – located in Sydney, Melbourne, Brisbane, Adelaide, the Gold Coast, Canberra and Perth – will reopen on April 20 this year after closing during the coronavirus pandemic.

Virgin Australia CEO Jayne Hrdlicka said the decision to cut business class fares was aimed at helping the airline reach 33% of the domestic market.

“Virgin Australia represents some of the best value for money in the travel market,” Ms Hrdlicka said.

“The pricing of our business class airline tickets is another example of how we have reset our cost base and then invested in creating premium travel experiences at very affordable and competitive prices, which that we know our customers love.”

Ms Hrdlicka said the fares were “up to 60% cheaper” than those these customers could afford before the pandemic.

“Looking forward, we are confident that our value-for-money travel experiences will enable us to achieve a 33% market share this year, which we have always said is our goal,” said- she declared.

“Travel demand is getting better and better with passenger bookings currently ahead of 2019 levels, showing just how bright our future is.”

The airline is also offering a 45% bonus on Velocity status credits for all qualifying business class bookings for travel by June 30.

International business class fares, to Bali, Fiji and Queenstown in New Zealand, have also been reduced to be at least 30% cheaper than before the pandemic.

Virgin Australia business class prices

– Between Melbourne and Sydney – $299

– Between Sydney and Brisbane – $299

– Between Melbourne and Brisbane – $299

– Between Hobart and Sydney – $309

– Between Brisbane and Cairns – $309

– Between Brisbane and Canberra – $309

– Between Melbourne and Gold Coast – $299

– Between Gold Coast and Canberra – $309

– Between Sydney and Gold Coast – $299

– Between Adelaide and Hobart – $309

– Between Adelaide and Brisbane – $359

– Between Adelaide and Gold Coast – $359

– Between Melbourne and the Sunshine Coast – $359

– Between Sydney and Hamilton Island – $409

– Between Cairns and Perth – $409

– Between Perth and Broome – $409

– Between Hobart and Brisbane – $459

– Between Adelaide and Perth – $459

– Between Sydney and Cairns – $459

– Between Brisbane and Darwin – $559

– Between Melbourne and Cairns – $609

– Between Brisbane and Perth – $1059

– Between Melbourne and Perth – $1159

– Between Sydney and Perth – $1209