The spotlight is back on Virgin Australia as CEO Paul Scurrah and his team ready its pitch to employees, creditors and the general public.
After weeks of talks with buyer-most-likely Bain Capital, Virgin will hand down its relaunch blueprint on Wednesday, which is expected to cover everything from jobs/job losses, aircraft, flight credits and its lounge strategy.
It's a big day for Virgin – similar to Qantas Airways' post-COVID-19 recovery plan released nearly six weeks ago. In terms of its recapitalisation, Street Talk can reveal the mooted deal has been delayed.
Administrator Deloitte has asked creditor representatives (and the court) to delay the mooted creditor vote until next month to allow all involved more time to prepare and review what will be hefty documents.
Virgin Australia administrator Deloitte will retain the keys to the airline until at least September 4, after delaying the all important creditor vote by one week.
