May 12, 2020 / 12:19 AM / 13 days ago

Virgin Australia has 19 potential buyers in data room - administrator

SYDNEY, May 12 (Reuters) - Virgin Australia Holdings Ltd’s administrator said 19 parties interested in purchasing the airline had been granted access to a data room as of May 11 and non-binding indicative offers are due on May 15, according to an affidavit.

The airline entered voluntary administration last month, owing creditors nearly A$7 billion ($4.53 billion), and the administrators at Deloitte aim to agree a deal with a buyer by the end of June.

Virgin Australia has 117 leased planes and engines with monthly rentals of A$40 million, of which only 50 are operational due to the low demand brought on by the coronavirus pandemic, administrator Vaughan Strawbridge said in the affidavit published by the Federal Court of Australia on Tuesday. ($1 = 1.5446 Australian dollars) (Reporting by Jamie Freed and Paulina Duran; Editing by Muralikumar Anantharaman)

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