Brookfield Asset Management Inc. (TSX:BAM.A) may still be interested in bidding for Virgin Australia Holdings Limited (ASX:VAH) despite being knocked out of the contest. InterGlobe Aviation Limited (NSEI:INDIGO) is also understood to have not given up hope of getting back into the race after it too was excluded from the competition. However, despite being excluded from the shortlist any other group can propose a Deed of Company Arrangement to the creditors at any time.

Should creditors vote in favour of such a proposal, that offer could succeed. Some believe this is more a theoretical argument than a reality, as Brookfield and InterGlobe would probably only start working on a bid once again if all other parties did not come up with a proposal that saw employees paid their entitlements. They may make a more attractive offer such as job guarantees, although this is not expected.