Virgin Australia’s unsecured creditors to get 9%-13% return under Bain deal
Virgin Australia Holdings Ltd’s (VAH.AX) unsecured creditors will receive an average return of 9%-13% of their funds as part of… Read More »
Virgin Australia to drop widebody fleet, cut workforce
Restructured airline will drop long-haul routes. Virgin Australia has revealed plans for its scaled down post-coronavirus operation, which involve major changes… Read More »
Bain Capital agrees with Virgin Australia administrator to buy struggling airline
U.S. private equity group Bain Capital said on Friday it has agreed with the administrator of Virgin Australia Holdings Ltd… Read More »
Virgin Australia given new life, to be owned by Bain Capital
Virgin Australia’s current owners, including the UK Virgin Group, will have their stakes wiped out. The selection of Bain Capital… Read More »
Virgin Group may pay $35-70mn to keep Virgin Australia stake
Richard Branson’s Virgin Group wants to invest between AUD50 and 100 million Australian dollars (USD35-70 million) in insolvent Virgin Australia… Read More »
Virgin Australia administrator chooses two final bidders
Deloitte has announced that it has selected two US private investment firms, Bain Capital and Cyrus Capital Partners, as the… Read More »
Virgin Australia launches US legal action to protect aircraft from being seized
Collapsed airline Virgin Australia has launched legal action in the United States to protect itself from creditors there who are… Read More »
Virgin Australia owes creditors over $6 Billion
Readers of the weekend newspapers in Australia raised their eyebrows on Saturday when news broke that Virgin Australia owed creditors… Read More »