Etihad have squandered billions on questionable investments in the airline world and may end up merging with Emirates so they aren't in a position to step up to the plate.
HNA group is a similar position to Virgin and is having to restructure its own debts.
https://www.scmp.com/business/compan...ea-time-caused
That takes two of the bigger five out of the equation. Richard Branson is the smallest of the five and will not want to risk his entire fortune.
That leaves the Nanshan Group which is one of China's largest companies and already has airline interests amongst its diversified holdings, together with Singapore Airlines left in the running.
A tie up between these two might be on the cards with Nanshan fronting the bulk of the cash and SIA kicking in some money and the management expertise. The fate of Virgin could be in the hands of a labyrinth of Chinese business networks. Taking a loss on their current positions might be worthwhile if they can acquire a new entity in restructured form, free of debt. Around 60 - 70 B737s operating on cherry picked routes with the infrastructure already in place might turn a profit within a reasonable timeframe once restrictions are lifted.