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The Virgin Blue name was the result of an open competition; it was a play on the predominantly red livery and the Australian slang tradition of calling a red-headed male 'Blue' or 'Bluey'.

In early 2005 Patrick launched a hostile takeover for Virgin Blue.

Patrick had been unhappy for some time with the company's direction.

The airline has grown to directly serve 29 cities in Australia from hubs in Brisbane, Melbourne and Sydney, using a fleet of narrow-body Boeing; and Airbus and Boeing widebody jets.

After several years operating as a low-cost carrier it improved its services to become a so-called (self-described) "New World Carrier" – essentially a business model which offers the "guest" the choice of purchasing a ticket with aspects of the "no frills" approach of low-cost carriers or paying a little more to receive services more in line with full-service airlines – to compete more effectively with Qantas in the business travel market.

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