Indebted Virgin Australia slumps into voluntary administration

Indebted Virgin Australia slumps into voluntary administration

Virgin Australia, the nation’s second-largest airline, announced Tuesday it has entered voluntary administration – making it Australia’s first big corporate casualty of the pandemic. The carrier was already struggling with a long-term A$5bn ( $3.17bn) debt, and is now seeking new buyers and investors, after failing to get a loan from Australia’s government.

Chris
Chris
Top in World
Get the App