Bankrupt airline Virgin Australia has been bought by United States investment firm Bain Capital. Virgin Australia Group entered voluntary administration on April 20 owing nearly $7 billion to creditors. READ MORE:* Virgin Australia tells customers with cancelled flights it can't give refunds or credit* Why Virgin Australia was never going to last* Coronavirus: Virgin Australia confirms collapse, appoints administratorsRicky Wilson/Stuff Bankrupt airline Virgin Australia has been bought by United States investment firm Bain Capital. Barnaby Lyons, head of Bain Capital's distressed and special situations business in Asia-Pacific, said Virgin Australia had a much brighter future. Our expertise in distressed investing and in aviation has enabled us to move quickly and deliver certainty to Virgin Australia during a very difficult time.

Source: Stuff June 26, 2020 04:18 UTC