Virgin on Tuesday entered voluntary administration in an attempt to restructure its crippling A$5bil (US$3.2bil) debt load as it struggles with a lack of demand due to the coronavirus pandemic, making it the Asia-Pacific region’s biggest victim of the crisis gripping the airline industry.
SYDNEY: Private equity and distressed situation specialists Apollo Global Management, Oaktree Capital Management and BGH Capital are among those that have expressed interest in restructuring Virgin Australia Holdings Ltd, five sources said.
Virgin on Tuesday entered voluntary administration in an attempt to restructure its crippling A$5bil (US$3.2bil) debt load as it struggles with a lack of demand due to the coronavirus pandemic, making it the Asia-Pacific region’s biggest victim of the crisis gripping the airline industry.
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