Simple Flying covers Virgin Australia Bids To Narrow To Just 2 Parties on 5/29
The second round of bids for Virgin Australia are due on 5/29 as the airline’s administrator looks to narrow down the field of potential buyers to just two. In the running are New York-based Cyrus Capital, BGH Capital, Indigo Partners, and Bain Capital.
All four bidders have been making presentations to employee groups, potential investors, governments, and media. It is estimated Virgin Australia could fetch around US$2.5 billion. The airline collapsed in April with over US$4.6 in debt.