With 2 active competitors (I exclude the bond holders for the moment), there was a chance that the airline would come out of administration. With Cyrus pulling out (have they really - or is this designed to put pressure on Deloittes??), Bain could totally re-evaluate their offer in a downward direction on the basis that any offer is better than no offer.
......expect the unexpected
So true - This has got some distance to run before a realistic outcome is known. If Bain end up getting the poisoned chalice, standby for the entry of Carla the Virgin leader.
