Nobody at this stage knows how Bain have valued the business or what they've paid for it
That's my question as well.
Plus they have put $ 125 m to keep it afloat until the creditors decide how to proceed. I don't understand how anyone could put this amount of money into a project without a minimum guaranteed return - which implies that Deloittes have effectively committed to a Bain deal.
How could anyone possibly float an airline as a listed company in this economic environment - pie in the sky. The bondholders so called 60+ cent return is an unreachable pipe dream.
If this goes south at the creditors meeting, Bain will have first option on all assets as the liquidation begins.
Barring any realistic court action, either way, Bain wins.