Business
Bain to take control of Virgin Australia in mid-November – Executive Traveller
Virgin Australia’s new owners will take the stick almost seven months after the airline collapsed.
Bain Capital aims to finalise its takeover of Virgin Australia around the middle of November, with the airline charting a new course as a mid-market competitor against both Qantas and Jetstar.
Administrator Deloitte struck a $3.5 billion deal to sell the collapsed airline to the US private equity firm on June 26, and hoped to see full ownership transferred by the end of October, but a few final formalities remain.
A Federal Court hearing scheduled for November 10 will consider the transfer of all…
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