Several “high-quality” parties have expressed an interest in taking over Virgin Australia, the administrators have revealed, as 1,300 of the airline’s creditors and observers including financiers, employees, unions and bondholders met via video link.
Key points:
- Virgin Australia entered voluntary administration on April 21 owing almost $7 billion to more than 12,000 creditors
- Already several parties have expressed an interest in taking over the airline and the process should be wrapped up by the end of June
- Deloitte is the administrator, while Morgan Stanley has been appointed alongside Houlihan Lokey to run the sale process
Deloitte was appointed this month to restructure and sell Virgin, as the airline became Asia-Pacific’s first to fall…
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