Bain Capital is preparing to list Virgin Australia, the country’s second-largest carrier, more than two years after it bought the business out of administration, as the sector rebounds with passengers returning to air travel.
Virgin Australia was one of the most high-profile corporate collapses triggered by the pandemic when it entered administration in April 2020 after the Australian government and shareholders declined to bail out the carrier.
The global airline industry was hit hard by the pandemic as planes were grounded. Dozens of small, struggling and regional airlines collapsed after onset Covid-19 made a debilitating impact on cross-border travel.
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