BAIN Capital is to buy Virgin Australia after the other bidder, Cyrus Capital, withdrew its offer.

The airline went into voluntary administration in early April.


Unions have welcomed the news of a buyer but called on the Commonwealth government to do more to save aviation jobs.

“Virgin staff and thousands of other aviation workers who rely on Virgin flying have been on tenterhooks throughout the administration process,” said Australian Services Union national secretary Linda White.

“We look forward to working with Bain to ensure Virgin is in the best position to keep flying, but these are still dangerous times for the aviation industry and we must all work together if we are going to have a strong aviation future.”

Queensland Treasurer Cameron Dick confirmed said he was delighted Virgin Airlines would continue as Australia’s second national carrier, with its headquarters in Queensland.

“Keeping Queensland jobs in Queensland as we deal with the economic fallout of the global coronavirus pandemic is very important,” the Treasurer said.

“We’re managing the health response and now we can start delivering Queensland’s plan for economic recovery.”

The news about a buyer for Virgin Australia came soon after Qantas had announced up to 6000 in job cuts.