US-based PE firm Cyrus Capital withdraws offer for Virgin Australia

US-based PE firm Cyrus Capital withdraws offer for Virgin Australia

FILE PHOTO: Travellers stand at a Virgin Australia Airlines counter at Kingsford Smith International Airport during the coronavirus outbreak, in Sydney, Australia, March 18, 2020. REUTERS/Loren Elliott/File Photo

Cyrus Capital Partners said on Friday it had withdrawn its bid for Virgin Australia Holdings Ltd, citing a lack of engagement by the airline’s administrator, but said it was willing to reinstate it under certain conditions.