Virgin Australia will be sold on says administrator

Virgin Australia, which has debts of some USD$4.4 billion has twelve interested parties, all of which have signed NDA’s, and all of whom are interested in buying up and recapitalising the airline.

This could range from existing shareholders to new investors, but it seems that the Administrator, Deloitte had no problem finding potential partners.

Either way some of the debt is going to have to be part of the deal, either paid off or carried over in a way the airline and its new owners can manage.

Any deal will almost certainly see current shareholders like Virgin Group’s 10% wiped out.