Virgin Australia Holdings Ltd’s administrator said on Monday that it had received final offers for Australia’s second-biggest airline from Bain Capital and Cyrus Capital Partners and that it hoped to select a preferred bidder by June 30. <\/p>\n
Bondholders are working on a revival plan for the airline involving a debt-to-equity swap if they are not satisfied with the bid the administrator chooses, according to a person with knowledge of the matter. <\/p>\n
Virgin, which competes against larger rival Qantas Airways Ltd, entered voluntary administration in April and owes nearly A$7 billion ($4.80 billion) to creditors. <\/p>\n
Bain and Cyrus have both proposed to operate the airline as a smaller, single-branded domestic and short-haul international carrier with growth potential, administrator Vaughan Strawbridge of Deloitte said in a statement. Australia’s Foreign Investment Review Board has approved both bids, he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Virgin Australia Holdings Ltd’s administrator said on Monday that it had received final offers for Australia’s second-biggest airline from Bain Capital and Cyrus Capital Partners and that it hoped to select a preferred bidder by June 30. Bondholders are working on a revival plan for the airline involving a debt-to-equity swap if they are not satisfied with the bid the administrator chooses, according to a person with knowledge of the matter. Virgin, which competes against larger rival Qantas Airways Ltd, entered voluntary administration in April and owes nearly A$7 billion ($4.80 billion) to creditors. Bain and Cyrus have both proposed […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,167,130],"tags":[],"class_list":["post-358723","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-civil-aviation-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/358723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=358723"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/358723\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=358723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=358723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=358723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}