Business
Virgin chief wades into bondholder battle – The Australian Financial Review
Paul Scurrah has urged staff to support the prospective sale of the airline to private equity group Bain Capital as the rebellious bondholder faction trying to overrule the outcome plans for a court battle.
“The sale of the business, by way of a binding agreement between Bain Capital and Deloitte, has occurred,” he said. “It’s important to understand that the proposal put forward by the bondholders was non-binding, conditional, indicative and incomplete.”
Mr Scurrah referenced comments from former executives at the airline including Virgin Australia co-founder Rob Sherrard supporting the bondholders, and criticised the group’s disruption.
“I know this has a huge impact on you all personally and i…
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