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
The aviation industry has a difficult road ahead when it comes to sustainability. It’s going to require a relative revolution in technology, with ‘electric planes’ or hydrogen planes, or some form of jet engine that doesn’t require a carbon based fuel. And that is going to require the development of an alternative to jet engines probably.
It’s a big ask. It will take time to develop.
This move to home grown and manufactured SAF is a first step – maybe even a baby step in a very long road of innovation. In the long run, US$200 million won’t even touch the sides.
Expectations that the final 2 or maybe 3 will be announced today. But, then again, we said that yesterday.
Breathe holding is ill advised.
What did you say?