Deloitte confirms next stage of potential new ownership for Virgin Australia.
The Administrators of the Virgin Australia Group have just announced the shortlisting of a “small number of parties” who are being invited into the next stage of the process for a recapitalisation and relaunch of the carrier.
Spokesperson Vaughan Strawbridge said “we are delighted by the strength of each of those on the shortlist, with parties selected being well funded and possessing deep aviation experience”.
Strawbridge said credible indicative bids had been received from the shortlisted parties, and “each has a plan for the business which can secure the future for thousands of Virgin Australia employees”.
He said Deloitte was undertaking an expedited sale process encouraging strong competition for Virgin Australia, “but one that is necessary to ensure the business is restructured as soon as possible so that it can remain a competitive force in the market and begin more normal operations as soon as COVID-19 restrictions allow”.
Confidentiality restrictions preclude Deloitte from commenting on who the shortlisted parties are, “but we will be working intensely with them over the next four weeks to enable binding offers by mid-June,” Strawbridge said.
“We are very excited about embarking on the next phase of the sale process and working with the shortlisted parties to see Virgin Australia restructured and come out of voluntary administration in a strong and sustainable position,” he added.
More details in today’s issue of Travel Daily.