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The current chair of Virgin Australia, Elizabeth Bryan, will launch a withering broadside at former chief executive John Borghetti, claiming he built a good airline but not a “good enough business”. In an interview set to screen on the ABC’s Four Corners on Monday night, Bryan will say, “When I arrived at the airline, a
The airline says it only needs to raise $30 million to expland, and is so confident the target will be met that it's starting preparations "in earnest”.
The TWU's statement is a significant sign Bain will also seal the support of employee creditors ahead of August’s crunch final vote.
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”.
The offer will involve $800 million to recapitalise the airline and $125 million to keep the business alive during the administration process.
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.
