Vultures line up to pick Virgin’s bones

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Virgin Australia’s administrator received at least eight non-binding indicative bids for the failed airline on 15 May. Vaughan Strawbridge of Deloitte will shortly draw up a short-list of bidders for the next phase of the sale process, and some are said to be pushing for this to feature just two prospective buyers.

Meanwhile, three parties have put forward indicative prices for Virgin; although InterGlobe is believed to have chosen not to do so due to the lack of sufficient information from Deloitte.

From The AFR:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.