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Bain Capital becomes the new owner of Virgin Australia after creditors agree to $3.5 billion deal – ABC News
US private equity firm Bain Capital is the new owner of Virgin Australia, with the largest group of creditors voting in favour of the $3.5 billion sale on Friday.
US private equity firm Bain Capital is the new owner of Virgin Australia, with the largest group of creditors voting in favour of the $3.5 billion sale on Friday.
Key points:
- Virgin Australia’s $3.5 billion sale to Bain Capital had been expected to pass with the backing of key unions and the Virgin Group
- The airline will no longer be a full-service carrier, operating with a far smaller fleet and more limited routes
- Bain has vowed to pay out all worker entitlements and …
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