After being chosen as Virgin’s preferred bidder late last week, many have been wondering what Bain Capital has planned for the struggling airline.

Following a comprehensive sale campaign, Virgin Australia’s administrators have chosen its preferred bidder to put forward to creditors.

You could sense that something was brewing amongst Virgin Australia’s bondholders, and now it’s been confirmed they are making a late play for the airline.

Virgin Australia’s administrators have urged the federal government to provide more financial certainty for the airline, or risk its sale falling in a heap.

Virgin Australia’s administration process is starting to resemble Bathurst’s famous Mount Panorama racetrack, given the number of twists and turns.

The administrators of Virgin Australia have whittled down the number of suitors after spending the weekend mulling over all the non-binding offers. Find out who they are here.