Shortlisted bidder for Virgin Australia, Bain Capital, has undertaken to honour pre-paid Virgin Australia tickets purchased through Australian Federation of Travel Agents (AFTA) member agents, if its bid for the airline is successful.
This development follows on from yesterday's announcement that Cyrus Capital, the other shortlisted bidder for ownership of Virgin Australia, will commit to honouring pre-paid tickets for flights purchased through travel agents.
According to Travel Weekly, the estimated combined value of pre-paid Virgin Australia flight credits is over 100 million dollars. The commitment from both shortlisted bidders is welcome news. It's expected to strengthen consumer and agent confidence in the airline.
Both Bain and Cyrus are understood to have submitted final offers for Virgin Australia yesterday. The announcement of a deal by the Administrators from Deloitte is expected to come imminently – so watch this space!
More to come
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