20 buyers now circling Virgin Australia

[JPJP]

Originally Posted by MelbourneFlyer

Virgin Australia administrators Deloitte confirm 20 buyers are now circling Virgin Australia, adding "we remain confident that our target of achieving a sale by the end of June is achievable.”

https://www.executivetraveller.com/n...uality-bidders

The accompanying article regarding Velocity really made me wonder WTF Virgin Oz management were doing.

• In 2014 they borrowed $150 Mil from Velocity.

• in 2014 they sold 35% of Velocity for $335 Mil.

• Virgin Oz lost $350 Mil that same year.

• They then bought back the same 35% of Velocity for $700 Mil, five years later. From the same group they’d sold it to originally.

• They never paid back the original $150 Mil loan from Velocity.