Site menu

Search by ticker code:
Generic filters


Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

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

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

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

What is Virgin?

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.

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

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

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Skip to content