Back more on topic a long piece on the bidders again.
Interesting the unions seem a little scared of Jayne
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Bain sets tone for ‘partnership’ with grounded airline
Bain certainly has its critics, most notably among the union movement which is worried the American private equity giant will slash and burn the airline for what is known in private equity parlance as a “quick flip”.
Some in the union movement are also deeply worried about the presence of former Jetstar chief executive and long-time Bain adviser Jayne Hrdlicka on the private equity group’s bid team. One union member even started a hashtag on Twitter this week that read #IfBainNoJayne.
Virgin has 132 aircraft and there are suggestions that Bain is looking at an operation of 75 aircraft. Cyrus has reportedly told people that it intends to keep most of Virgin’s Boeing 737s for domestic flying while selling its other domestic aircraft.
In a scathing commentary, Alistair Osborne, business commentator for The Times of London, attacked Cyrus and its partners for the way they handled the already struggling Flybe, calling the consortium of Cyrus, Branson and UK-listed Stobart “greedy owners” who bought the airline but when things got tough did not want to put any money into it.
“It’ll be no consolation to the airline’s 2400 staff that its minted shareholders had the financial fuel to keep it flying,” Osborne wrote in March
www.theaustralian.com.au