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Bain, Cyrus Picked as Top Bidders for Virgin Australia Assets

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Investment firms Bain Capital and Cyrus Capital Partners were selected as top contenders on Tuesday to acquire the assets of Virgin Australia Holdings Ltd., which filed for bankruptcy protection after the coronavirus pandemic brought air travel to a near halt.

Both Bain and Cyrus are well funded and have deep aviation experience, said Vaughan Strawbridge, a partner at Deloitte who is one of the administrators overseeing the sale. The airline, in which Richard Branson’s Virgin Group had a stake, at one point had more than 10…

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