Virgin Australia

Virgin Australia is the biggest domestic rival to Qantas Airways, which has ties with Dubai-based Emirates and an arrangement with Finnair to operate flights between Sydney, Bangkok and Singapore

The stake sale also serves as a cornerstone investment ahead of an anticipated return of Virgin Australia into public ownership, the companies said

The stake sale also serves as a cornerstone investment ahead of an anticipated return of Virgin Australia into public ownership, the companies said

Virgin Australia, so financially frail when Covid-19 hit in 2020 that it folded in weeks, has undergone a remarkable transformation under new owner Bain Capital

Australia has seen a record surge in Covid-19 infections due to the Omicron variant, which has strained supply chains, overwhelmed hospitals

The management change at Virgin, to be effective soon after its sale to Bain Capital is completed next month, will set the stage for a battle with unions

Kalrock has written to the lenders saying that the bid process should be completed transparently and quickly, pointing to the successful resolution of bankrupt Virgin Australia

Virgin Australia Holdings Ltd's creditors on Friday voted in favour of the purchase of Australia's second-biggest airline by US private equity group Bain Capital

Priority creditors and employees will receive 100% of funds owed, the report said

Virgin said on Wednesday the 3,000 jobs would go as the carrier offloads its fleets of Boeing 777s, Airbus SE A330s and ATR turboprops

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Virgin went into voluntary administration in April setting off the eight-week sale process

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

Administrator Deloitte said they had been selected from five non-binding proposals received on Friday. It is seeking a binding agreement with the winning bidder by June 30.

Virgin Australia Holdings Ltd's administrators have short-listed potential buyers BGH Capital, Bain Capital, Indigo Partners and Cyrus Capital Partners, a source with knowledge of the matter said