Virgin Australia Holdings Ltd's administrators said on Thursday they had given eight potential buyers access to a data room and were negotiating with another 12 about doing so as they seek to sell the country's second-biggest airline by end-June.
) administrators said on Thursday they had given eight potential buyers access to a data room and were negotiating with another 12 about doing so as they seek to sell the country’s second-biggest airline by end-June.
The administrators were appointed this month to restructure and sell Virgin, the Asia-Pacific airline industry’s biggest victim of the coronavirus crisis so far. Private equity and distressed situation specialists Apollo Global Management, Oaktree Capital Management and BGH Capital are among the firms that have expressed interest in the purchase, Reuters has reported, citing five sources.
Virgin owes A$2.3 billion in secured debt to banks and aircraft financiers, A$2 billion to unsecured bondholders, A$1.9 billion to aircraft lessors, and A$450 million to employees.
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