Business
What Virgin Australia may look like following Bain’s buyout – CNBC
Virgin Australia’s creditors voted to sell the company to private equity firm Bain Capital months after Virgin entered administration amid the coronavirus crisis.
Aircraft operated by Virgin Australia Holdings Ltd. stand at Sydney Airport in Sydney, Australia, on Friday, August 17, 2020.
Virgin Australia’s creditors on Friday has allowed U.S. private equity company Bain Capital to purchase the airline, Virgin said in a statement, after it filed for bankruptcy protection in April amid a global debt crisis.
The airline was badly hit when travel was halted in most countries earlier this year, in a bid to stem the spread of the coronavirus pandemic. Virgin …
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