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Aerospace & Defense Industries

Virgin Australia bid narrowed down to Bain and Cyrus

Winner to be chosen by June 30

A Virgin plane takes off from Kingsford Smith airport in Sydney. Australia's second-biggest airline has faced long-running financial struggles exacerbated by the coronavirus pandemic.   © Reuters

SYDNEY (Reuters) -- Virgin Australia Holdings's administrator said on Tuesday it had selected Bain Capital and Cyrus Capital Partners as the final bidders for the country's second-biggest airline.

Administrator Deloitte said they had been selected from five non-binding proposals received on Friday. It is seeking a binding agreement with the winning bidder by June 30.

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