Virgin Australia: No Shortlist yet

The AFR is reporting that no shortlist of final bidders for Virgin Australia has yet been issued by the Administrator, Deloitte, but that a favourite has emerged.

Bain Capital is apparently the favourite. The Bain bid comes with ex Jetstar boss Jayne Hrdlicka attached. Paul Scurrah, the current CEO of Virgin Australia might be nervous about that. Jayne might be seen as the new CEO – or as some speculate, the new board Chair, in which case, maybe Paul Scurrah can relax.

There are 4 other hats in the ring:

• Brookfield – late re-entry into the process
• BGH Capital
• Indigo Partners / Oaktree Capital Management
• Cyrus Capital Partners

2PAXfly Takeout

Expectations that the final 2 or maybe 3 will be announced today. But, then again, we said that yesterday.

Breathe holding is ill advised.