The statement precedes a further thinning of the number of suitors vying for the stricken carrier, with Deloitte poised to halve the shortlisted pool of four bidders by this Friday.

Bain Capital’s competitors include local private equity outfit BGH Capital, as well as American airline investors Indigo Partners and Cyrus Capital Partners.
“We have the strengthto rebuild an airline which Australians can be confident in an airline which will meet their needs. It will be an airline for all Australians, with Australian management and staff, funded by significant Australian money, and Bain Capital, which has been investing in Australia for more than 20 years,” Mr Murphy said.
“We will be a committed partner for Virgin Australia with a proven track record. Under our ownership, Virgin Australia will have a sustainable, long-term future.”
These statements are the first forceful credential push from a bidder to make it into the next bracket, with Virgin’s other bidders remaining relatively quiet so far.
While Indigo Partners founder Bill Franke spoke about Virgin at an aviation industry “masterclass” hosted by Sydney-based intelligence firm CAPA, he was limited in what he could say about Virgin.
“We see Australia as a very interesting market,” Mr Franke said. “We think the country needs to have two airlines, and we want to assist Virgin Australia in being one of those airlines.”
The final two bidders, with the Queensland state government looking to bolster one to ensure Virgin’s headquarters remain in Brisbane, will make their final offers for the airline on June 12 as Deloitte hopes to turn around a quick sale.
Virgin under immense pressure as the COVID-19 pandemic took the axe to travel demand and tourism more broadly tipped into administration in late April, with Deloitte handed the reigns as around 20 interested parties initially expressed interest in propping up the carrier.
About nine of those parties handed in indicative offers and, after Canada’s Brookfield Asset Management pulled out of the process with concerns around the sale timeline and Virgin’s immediate liquidity, Mr Strawbridge whittled this down to four.
Bain Capital and BGH Capital have long been the favourites to buy out the airline.
Bain Capital’s Mr Murphy said his team of 15 dealmakers advised by KordaMentha and former Jetstar chief executive Ms Hrdlicka, who is likely to put her hand up to run the recapitalised airline had the experience to help Virgin through the pandemic.
“We have the depth of experience to help steer Virgin Australia through this turbulence so that together with the staff, Australia can have a safe, financially strong airline,” Mr Murphy said.
“We want to bring back the best parts of the Virgin Blue culture and make flying fun again.”
Yet he stopped short of making any firm commitments to operate particular routes or retain the current staff headcount.
It remains unclear whether any bidder will have to front up cash to keep the airline solvent until a second creditors meeting in August, where the ultimate fate of Virgin will be determined.
Deloitte partner and lead administrator Vaughan Strawbridge has admitted the carrier’s $100 million of cash will only be enough to last until the end of June.
He is exploring options to keep Virgin operational and continues to inform the federal government, represented in the airline’s administration by former Macquarie Group Chief Nicholas Moore, of the situation.
But officials have so far refused every proposal to help out Virgin, including the most recent request for interim funding from the Queensland state government.