BGH, Bain, Indigo Partners, Cyrus Capital make Virgin Australia shortlist: source

Virgin Australia Holdings' administrators have short-listed potential buyers BGH Capital, Bain Capital, Indigo Partners and Cyrus Capital Partners, a source with knowledge of the matter said on Monday. The airline’s administrators expected to receive as many as eight non-binding indicative offers from potential buyers before a submission deadline Friday. Binding offers for the airline are due on June 12. The company entered voluntary administration last month owing creditors nearly A$7b, making it the biggest Asia-Pacific casualty of the coronavirus crisis hitting the global aviation industry. The strong interest in Virgin Australia at a time when the world aviation market is largely grounded shows the long-time attractiveness of the Australian domestic market, a duopoly between Qantas and Virgin. The administrators at Deloitte said they had shortlisted a small number of well-funded parties with strong aviation credentials but declined to name them. Brookfield on Sunday told the administrators it would exit the process if more than two bidders were shortlisted because it would be unworkable given the tight timeframe, a source with knowledge of the matter said. Brookfield declined to comment.<br/>