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Shortlist of four suitors in the running to take over Virgin Australia

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Virgin Australia and its administrator Deloitte have shortlisted “highly credentialed” parties who could end up being the new owners of Australia’s second major carrier.

ABC News reports that the shortlist contains four bidders: private investment firm Bain Capital, private equity firm BGH Capital, US aviation investor Indigo Partners and global investor Cyrus Capital Partners.

Cyrus Capital, despite having previously invested alongside Richard Branson in Virgin America and Flybe, was a surprise bidder, having not been one of the many companies touted in the media as participating in the sale process.

Virgin Australia’s appointed administrator, Deloitte, led by Vaughan Strawbridge, has for several weeks been working with the company’s management team on finding a new owner.

Final bids are due on June 12.

Virgin Australia went into administration on April 21, owing about $7 billion.

There had been about 20 interested parties, including a last-ditch bid by the Queensland Government, but that list was culled at the end of last week.

Read more via ABC News

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