SYDNEY: Private equity and distressed situation specialists Apollo Global Management, Oaktree Capital Management and BGH Capital are among those that have expressed interest in restructuring Virgin Australia Holdings Ltd, five sources said.
Virgin on Tuesday entered voluntary administration in an attempt to restructure its crippling A$5bil (US$3.2bil) debt load as it struggles with a lack of demand due to the coronavirus pandemic, making it the Asia-Pacific region’s biggest victim of the crisis gripping the airline industry.
The company’s administrators said they would hold a first meeting of creditors on April 30 and have retained Houlihan Lokey to advise them on restructuring the airline.
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