Bain pumps $125m into Virgin as key details reach creditors

In addition to the upfront payment, the firm is also planning to pay unsecured creditors ‘hundreds of millions of dollars’ for their debt, according to minutes from a meeting on July 1.
Further, Bain is planning to retain at least 73 jets from the airline’s existing fleet as well.
Lead administrator Vaughan Strawbridge said the initial cash injection was required to help the airlin… [+4987 chars]
http://www.afr.com/companies/transport/bain-pumps-125m-into-virgin-as-key-details-reach-creditors-20200713-p55bkh

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