Virgin Australia sold to Bain Capital after rival Cyrus withdraws bid; Bain commits to save as many jobs as possible

Virgin Australia's administrators have entered into a sale agreement with Bain Capital, after its private equity rival Cyrus Capital Partners suddenly withdrew its offer. 

Bain has pledged to protect as many Virgin jobs as possible but TWU national secretary Michael Kaine would give no guarantees, and told ABC's Peter Ryan Bain would be maximising its investment.