Virgin Australia chief executive Jayne Hrdlicka has resigned, after leading the company through administration and the COVID-19 pandemic over the past four years.
A slew of external hires head up Virgin Australia's newly minted executive team, with outsiders named to key operational, corporate affairs and finance management roles.
Around 3,000 jobs will go at Virgin Australia under a trimmed-down vision of the carrier, which has been hit by turmoil in the aviation market caused by the coronavirus pandemic.
Bain Capital has emerged as the winning bidder for Virgin Australia, with the administrators agreeing to sell the ailing airline to the Boston-based private equity firm.
Virgin Australia bondholders have put forward a recapitalisation proposal for the struggling airline, seeking to knock out rival offers from two US private equity firms.
Four private equity firms are the leading candidates to buy Virgin Australia, the biggest regional casualty of the coronavirus crisis in the global aviation industry.
Virgin Australia is expected to receive as many as eight non-binding indicative offers from potential buyers, which will be whittled down over the next few days to a shortlist of around three, its administrators said.
Pioneer Credit has named US investment group Carlyle as preferred bidder to acquire the business, at a price of $1.82 per share, a large discount to the company's latest closing price of $2.46 per share.
Pioneer Credit's shares have surged 27.4 per cent to close at $2.51 each, after the company confirmed it has received a takeover proposal at a “material premium” to its current share price.
Balcatta-based drilling services company Imdex has lined up a new debt funding deal after cancelling a $21.5 million placement just hours before today's shareholders meeting.
