US private equity firm Indigo Partners is showing interest once again in struggling carrier Virgin Australia.
It is one of a number of suitors lining up to submit bids.
The Arizona based firm has a history of turning round airlines and has significant interests in Frontier Airlines, Volaris and Wizz Air.
The Sydney Morning Herald revealed Indigo Partners made a play for Virgin Australia back in 2018.
It approached HNA Group with a view to purchasing its 20% stake in Virgin, and also spoke to fellow investors Etihad and Nanshan Group.
The SMH reports it was quite close to a deal for a controlling stake at the time.
Apart from Indigo, Sydney private equity firm BGH Capital is vying to take over Virgin, which is currently in voluntary administration.
There are also reports that Singapore’s sovereign wealth fund, Temasek is keen to make a bid.
Virgin Australia’s complicated ownership is one major reason the Australian government baulked at a bailout.
Etihad Airways, Singapore Airlines , Nanshan Group and HNA Group own almost equal 20% stakes while Virgin Group has a 10.42% share.
Meanwhile Virgin’s separately run Velocity Frequent Flyer business wants to recoup a $150 million loan it made to the airline back in 2014.
