 At the time, the view was that Patrick's shareholding would also allow the company to benefit from their new shareholder's political connections with the Howard Government, and also 'Greenwash' the company, allowing it to be described as Australian-owned.In 2003, Virgin Blue Holdings Limited was floated on the Australian Securities Exchange as Virgin Group sought to sell down its holdings.In early 2005 Patrick launched a hostile takeover for Virgin Australia Holdings.