US investors Cyrus said it pulled out due to a “lack of engagement” with the administrator which had “not returned calls, emails or meaningfully engaged”.
Bain Capital has reacted to news the airline’s bondholders have launched an 11th-hour bid by making a series of new promises to staff.
The airline’s bondholders have reportedly drafted in a team of aviation experts to formulate a bid that would involve swapping their debt for equity.
Treasurer Cameron Dick said the Queensland Investment Corporation had “very positive engagement” with both Cyrus Capital Partners and Bain Capital.
FAAA secretary Teri O’Toole said, “Cyrus are not dipping their toes in aviation, they actually know what they’re doing and they’re taking this on with eyes open.”