Grounded Virgin Australia aircraft are parked at Brisbane Airport on April 7, 2020. Australia's second-largest airline announced on April 21 that it had entered voluntary administration. Photo: AP
Grounded Virgin Australia aircraft are parked at Brisbane Airport on April 7, 2020. Australia's second-largest airline announced on April 21 that it had entered voluntary administration. Photo: AP

Bain Capital to buy Virgin Australia in a bold bet on the recovery prospects of a shattered travel industry

  • Bain Capital was announced as the winning bidder for Virgin Australia, according to the carrier’s administrator Deloitte, without disclosing the purchase price
  • It was the sole suitor for Virgin Australia after Cyrus Capital Partners withdrew its takeover proposal hours earlier, citing ‘lack of engagement’ by Deloitte

Grounded Virgin Australia aircraft are parked at Brisbane Airport on April 7, 2020. Australia's second-largest airline announced on April 21 that it had entered voluntary administration. Photo: AP
Grounded Virgin Australia aircraft are parked at Brisbane Airport on April 7, 2020. Australia's second-largest airline announced on April 21 that it had entered voluntary administration. Photo: AP
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