Is Virgin (ASX:VAH) about to be saved?

Virgin Australia (ASX:VAH) has moved onto the next stage of potentially being saved.

You’re reading a free article on Rask. Join 4,000+ Australians who get our expert advice, tools, exclusive research and investment recommendations. Get your 30-day trial for $1! Learn more

Virgin Australia (ASX: VAH) has moved onto the next stage of potentially being saved.

What is Virgin?

online pharmacy buy champix without prescription with best prices today in the USA

Virgin is a holding company for Virgin Australia International Airlines, Virgin Australia Domestic Airlines and also Tigerair Australia. Tigerair was acquired by Virgin in 2015.

What has been announced today?

The administrators of Virgin said that the airline has taken a significant step towards leaving voluntary administration with a new owner. A shortlist of parties has been made for the next stage.

Each potential buyer is well funded and has “deep aviation experience”. They have put forward credible bids which can save the job of thousands of employees.

Who are those potential bidders?

Lead Partner for the Administrators, Vaughan Strawbridge, said: “We cannot comment on who the shortlisted parties are due to confidentially commitments but we will be working intensely with them over the next four weeks to enable binding offers by mid-June. This will involve the sharing of more detailed financial and operational information, management workshops and meeting with as many of the financiers, landlords, suppliers, unions and other stakeholders of the business as possible.”

But apparently the Australian Financial Review apparently has the shortlist. The names are Bain Capital, BGH Capital, Indigo Partners and Cyrus Capital Capital Partners.

It seems Brookfield, which was much talked about as a potential bidder, didn’t make the shortlist because it didn’t want to be involved with so many bidders.

It’ll be interesting to see what happens next, and how will Qantas (ASX: QAN) respond to the saved Virgin? I think I’d rather stick to investing in technology shares over airlines:

[ls_content_block id=”18457″ para=”paragraphs”]

Disclosure: at the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.

A $50,000 per year passive income special report

Join more 50,000 Australian investors who read our weekly investing newsletter and we’ll send you our passive income investing report right now.

How can Rask help you?

About Rask

Learn more about us, our your community and our mission.

Rask investing philosophy

Nearly 15 years later.
It's still a work in progress.

Online investment community

You won't find our investment community on Facebook or Reddit because it's secure, free and available now.

Join 250,000+ podcast listeners

250,000 investors tune into the Rask podcasts every month. Find out why.

Find a financial planner

Australia's financial experts. At your doorstep.

Free finance courses

35,000 students have enrolled in free Rask courses. We're on a mission to 100,000.

Subscribe to Rask's free investor newsletter

53,000 Australian investors subscribe to our Sunday newsletter... and love it! It's free.

$50 million invested

We manage almost $50 million on behalf of Aussies. Discover how you can invest with us.

Better investing starts here.

Want to level-up your analytical skills and investing insights but don’t know where to start? Join 50,000 Australian investors on our mailing list and we’ll send you our favourite podcasts, courses, resources and investment articles every Sunday morning. Grab a coffee and let Owen and the team bring you the best  insights.

Subscribe to Rask's free investor newsletter

Kick off your week with our pick of podcasts, courses and investing resources to keep your finger on the Rask pulse!

Here you go: A $50,000 per year passive income special report

Join more 50,000 Australian investors who read our weekly investing newsletter and we’ll send you our passive income investing report right now.

Simply enter your email address and we’ll send it to you. No tricks. Unsubscribe anytime.

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.