The Queensland Government is believed to be linked to one of the three "advanced" bidders for Virgin Australia, as administrators prepared to short-list yesterday's best offers

Queensland Investment Corporation, tasked by the State Government, is believed to be working with global investment firm Brookfield Asset Management, who are tipped among the main contenders for the troubled airline.

The first milestone in the battle to buy Australia's second-largest carrier was reached at 6 last evening when the time for non-binding bids closed.

Eight serious bidders were understood to have lodged an offer despite almost 20 parties circling earlier in the week.

A sale is expected to be finalised by the end of June...