Virgin Australia becomes first major corporate casualty of COVID-19
Virgin Australia has confirmed it has gone into voluntary administration.
Starved of cash by the coronavirus travel shutdown, the company collapsed under the weight of enormous debts.
The airline’s voluntary administration announcement comes after a request for a $1.4 billion financial lifeline from the federal government was rejected.
Administrators intend to restructure the airline and find new owners to bring it out of administration and keep planes flying.
Virgin employs around 10,000 people directly and supports another 6000 jobs indirectly.
Last night, Tom Elliott spoke with Brian Wilson, aviation expert, about the situation leading up to the administration announcement.
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