22 April 2020
Virgin Australia has announce that it is going into voluntary administration.
The AFP reported that around 10,000 Virgin Australia staff were informed late on Monday of the news. The airline reportedly desperately needed a A$1.4 billion bailout from the government, which hadn’t materialised.
The next step is to appoint administrators, find a buyer, or restructure the debt, which is reportedly about A$5 billion.
Australian media reported that Deloitte has been appointed as administrator.
