Original article by Lucas Baird
The Australian Financial Review – Page: 12 & 14 : 14-Jul-20
Virgin Australia aims to have 35 per cent of its pre-COVID-19 capacity in the sky by the end of August, according to the minutes of a committee of inspection meeting. The minutes also reveal that Virgin’s prospective new owner, Bain Capital, injected $125 million into the airline on 1 July to insure its immediate survival. The committee of inspection comprises a group of around 30 Virgin creditors, and lead administrator Vaughan Strawbridge says the committee has endorsed the sale of the airline to Bain Capital.
VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, BAIN CAPITAL LLC