Business
Virgin’s rebel bondholders bail out, leaving Bain to take control – Executive Traveller
Virgin’s rebel bondholders hit the eject button in the battle to take control of Virgin Australia.
The consortium of rebel bondholders vying for control of Virgin Australia has pulled the plug on their ‘Plan B’ proposal to wrest control of the airline from rival Bain Capital.
Their decision paves the way for the US-based Bain to assume full ownership of the collapsed airline following a meeting on September 4 of creditors, which is expected to hand Bain the keys to Virgin Australia.
Also read: Bain’s ‘rescue and reboot’ plan for Virgin Australia revealed
The bondholders were among the 10,0…
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