May 15, 2020 / 5:24 AM / 23 days ago

Virgin Australia expected to receive as many as 8 non-binding offers - administrators

SYDNEY, May 15 (Reuters) - Virgin Australia Holdings Ltd is expected to receive as many as eight non-binding indicative offers from potential buyers on Friday, which will be whittled down over the next few days to a shortlist of around three, its administrators said.

The country’s second-biggest airline entered voluntary administration last month, owing creditors nearly A$7 billion ($4.52 billion). The administrators at Deloitte aim to agree a deal with a buyer by the end of June.

Administrator Vaughan Strawbridge said in a statement that eight of the nearly 20 parties that had accessed the company’s data room had been advanced enough in their interest to be given its forward-looking Virgin 2.0 business plan. ($1 = 1.5480 Australian dollars) (Reporting by Jamie Freed and Paulina Duran; Editing by Himani Sarkar)

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