Cyrus - which was a founding investor alongside Richard Branson in Virgin America - said on Friday morning that it was pulling out of the sale “due to lack of engagement” by Virgin’s administrator Deloitte.AAP
The New York-headquartered firm said that after submitting a bidding offer for Virgin on Monday as one of two short-listed bidders, “administrators have not returned calls, emails, or meaningfully engaged with Cyrus to progress its offer”. Virgin went into voluntary administration in April with debts of $6.8 billion, setting off a months-long sale process.
pwhatch While the airlines struggle to survive, the Federal government is wasting money to build the 2nd Sydney airport. auspol
Good to see these villains have moved on to the corporate life
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Final stages of Virgin bidding process will be telling: Deputy Prime Minister | Sky News AustraliaDeputy Prime Minister Michael McCormack says the bidding process for embattled airline Virgin Australia is getting very close to the pointy end with a result expected in the coming weeks.\n\nTwo American bidders, Bain Capital and Cyrus, have made the final cut of more than 15 potential suitors after the airline went into voluntary administration in April with close to $7 billion dollars of debt to creditors.\n\n“Next week will be telling,” the deputy prime minister told Sky News host Peter Gleeson.\n\nMr McCormack also said both of the final bidders have agreed to honour frequent fliers and all other ticketing arrangements made before the airline went into administration.\n\n“The important thing is we have two commercially viable airlines coming out of this whole voluntary administration process.”\n\nImage: News Corp Australia M_McCormackMP VirginAustralia Why does insider trading come to mind?
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Virgin bondholders make $925m pitch for control of airlineVirgin Australia's bondholders have offered to pour $925 million into the bankrupt airline as part of an eleventh-hour relaunch plan that would see them emerge as the carrier's new owners | pwhatch pwhatch the shares are only worth less than 5c
Source: smh - 🏆 6. / 80 Read more »
Final stages of Virgin bidding process will be telling: Deputy Prime Minister | Sky News AustraliaDeputy Prime Minister Michael McCormack says the bidding process for embattled airline Virgin Australia is getting very close to the pointy end with a result expected in the coming weeks.\n\nTwo American bidders, Bain Capital and Cyrus, have made the final cut of more than 15 potential suitors after the airline went into voluntary administration in April with close to $7 billion dollars of debt to creditors.\n\n“Next week will be telling,” the deputy prime minister told Sky News host Peter Gleeson.\n\nMr McCormack also said both of the final bidders have agreed to honour frequent fliers and all other ticketing arrangements made before the airline went into administration.\n\n“The important thing is we have two commercially viable airlines coming out of this whole voluntary administration process.”\n\nImage: News Corp Australia M_McCormackMP VirginAustralia Why does insider trading come to mind?
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Woolworths reinstates product limits in VictoriaSupermarket giant Woolworths will reinstate product buying limits across its stores in Victoria in a bid to prevent a second wave of "panic buying". Dumbcunts There are 6.5 million people living in Victoria. If 10% of the population had CV-19, that would be 650,000 people. If 1% 65,000 people. If 0.1% 6,500 people. If 0.01% 650 people. The actual number of people in Victoria who now have the CV-19 is now 121. That is 0.002% calmdown Advert. Note the brandings front and centre every time. Manipulative.
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Woolworths and Coles reinstates product limits in VictoriaWoolworths and Coles are reinstating some purchase limits across Victorian stores, amid the state’s recent spike in coronavirus cases and backtracking on restrictions. Details on limits: COVID19 9News Oh no!!! Here we go again oh FFS🙄 There are 6.5 million people living in Victoria. If 10% of the population had CV-19, that would be 650,000 people. If 1% 65,000 people. If 0.1% 6,500 people. If 0.01% 650 people. The actual number of people in Victoria who now have the CV-19 is now 121. That is 0.002% calmdown
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Virgin bondholders make $925m pitch for control of airlineVirgin Australia's bondholders have offered to pour $925 million into the bankrupt airline as part of an eleventh-hour relaunch plan that would see them emerge as the carrier's new owners | pwhatch pwhatch the shares are only worth less than 5c
Source: smh - 🏆 6. / 80 Read more »