Bain makes big bet on Virgin Australia

• Bain Capital has won a bid to acquire Virgin Australia (OTC:VBHLY) in one of the biggest single bets on the airline industry since it was hammered by the coronavirus pandemic.
• The carrier was one of the first big airlines to seek bankruptcy protection, with more than 10K employees and a roughly 31% market share on domestic routes.
• While the value of the deal wasn't disclosed, administrator Deloitte said there will be "a significant injection of capital" into the airline.
• Larger rival Qantas Airways (OTCPK:QABSY) this week cut 6,000 jobs, grounded about 100 planes and raised as much as A$1.9B ($1.3B) to survive a prolonged downturn.

Comments

[chazsf]

Anybody have an idea what Bain's intentions are?

[11146471]

Balsy.