Treasurer Josh Frydenberg has defended Nicholas Moore's role in the administration process for Virgin Australia despite the former Macquarie chief’s financial interests in the investment bank, which is also a potential bidder for the collapsed airline.
Mr Moore's ongoing financial interests in Macquarie came to light after administrators Deloitte said 20 potential bidders had expressed an interest in taking over Virgin, eight of which had signed non-disclosure agreements to get access to its data room. Along with a potential interest in the rescue of Virgin, Macquarie's aircraft leasing business is also a creditor to Virgin. It leases two Airbus A320s and one Boeing 737s to Virgin, with estimated monthly payments of around $US600,000 or just over $US7 million a year.
The report also says Mr Moore is also due to review performance share units if the bank reaches certain financial milestones over the next two years.
mates sticking together
sdanck pwhatch ChauDave PatsKarvelas How the first phase of peakoil brought VirginAustralia into minus after 2008
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