SYDNEY (Business) – Two private groups consider making approaches for Virgin Australia Holdings Ltd, according to the Australian Financial Review.
A private equity investor partnered with “a strategic airline investor” with an offer for the airline while the second potential buyer may be an investment bank allied with an Australian infrastructure investor.
Virgin Australia suspended share trading to continue financial aid and restructuring alternatives talks to aid getting through the coronavirus downturn.
Virgin airline has been unsuccessful in its request to the Australian government for A$1.4 billion in loans to convert to equity in certain circumstances.
Virgin is currently also in talks with creditors about debt restructuring options like debt-for-equity swap and hired UBS, Morgan Stanley, Houlihan Lokey and Deloitte as advisers.
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This story has been edited by BH staff and is published from a syndicated field.