Virgin Australia Under Bankruptcy Protection After Government Rejects $1.4b loan
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April 21, 2020 - by bbc.news
Virgin Australia has confirmed it has entered voluntary administration - making it Australia's first big corporate casualty of the coronavirus pandemic.
The country's second-largest carrier cut almost all flights last month following wide-spread travel bans.
It was already struggling with a long-term A$5bn (£2.55bn; $3.17bn) debt.
The airline is now seeking new buyers and investors, after failing to get a loan from Australia's government.
Meanwhile, Sir Richard Branson - whose Virgin group is a part-owner of Virgin Australia - has offered a Caribbean island as collateral to help get a UK government bailout of Virgin Atlantic....
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