Good evening,

Virgin Australia's shareholders have thrown in the white towel.

As Virgin's board, spearheaded by chairman Elizabeth Bryan and managing director Paul Scurrah, pitches Canberra for a funding lifeline, four of its five big shareholders have passed up the chance to tip funds into a recapitalisation and maintain their shareholdings.

Instead, Virgin will need to rely on new investors, along with help from the government package or its lenders. Or likely all three.

Elsewhere, Amaysim has called in its bankers and asked them to try to shore up some strategic interest in the group, in an effort to create value for shareholders.

A Sydney-based boutique firm is understood to be handling the process, which prospective acquirers reckon is more a sign of the times than Amaysim's interest in finding a cashed-up predator.

Happy reading,

Sarah Thompson, Anthony Macdonald and Tim Boyd,

Street Talk Editors