With Virgin’s sale process in the final stretch, administrator Deloitte wrote to the Federal Government requesting an extension of financial support to stop bidder from walking away:
[Deloitte] is worried bidders for the troubled airline might pull out in the absence of government support for the airline industry…
It said the two current bidders – Boston-based private investment firm Bain Capital, and global investor Cyrus Capital Partners – are not only concerned about Virgin’s financial status, but the general future for airlines given the uncertainty over when international travel could resume…
