Virgin Australia VA Update

On 2 June 2020, Deloitte, as administrator for Virgin Australia Holdings Limited (VAH), announced that it has shortlisted two parties in the current sale process that was initiated in late April (upon VAH entering voluntary administration). These two parties are Bain Capital and Cyrus Capital Partners. Given the very high profile nature of this process, there is significant media scrutiny and ongoing reporting, yet there remains limited reliable information available. As such, while we can only speculate on a number of matters being considered, we provide noteholders an update on where things stand.