Virgin Australia could be allowed to collapse and a new carrier enter the market as the government has no intention of bailing out the troubled airline. But while the Australian government suggested it would rather the airline survived the COVID crisis, it would not provide the bailout package. But if Virgin doesn't survive the pandemic, the government would ensure another quickly took its place. If Virgin doesn't survive the pandemic, the government would ensure another quickly took its place. Pictured: People at the Brisbane domestic terminal on March It is believed that Virgin Australia only has enough cash reserves to last another three months.
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Virgin Australia plans to continue to operate its current bare-bones service while external administrators try to attract buyers so that the stricken airline can survive the coronavirus crisis. Employees who were still working would continue to be paid and the approximately 8, staff who have been stood down will continue to receive the jobkeeper allowance, he said. But while the airline will continue as is for the moment, Strawbridge said its future shape after exiting voluntary administration — including how many planes it had and how many routes it flew — was yet to be decided. Virgin Australia on Tuesday morning told the stock exchange it had appointed Strawbridge, John Greig, Sal Algeri and Richard Hughes of the big-four accounting firm Deloitte as administrators.
Virgin Atlantic airline files for US bankruptcy protection
The airline made the Chapter 15 filing in U. A spokeswoman for Virgin Atlantic said the bankruptcy filing is part of a court process in the United Kingdom to carry out a restructuring plan that the airline announced last month. The process is supported by a majority of the airline's creditors, and the company hopes to emerge from the process in September, she said.
Reid, said yesterday that he was joining the Virgin Group and would be overseeing the low-fare carrier that Sir Richard Branson hopes to start in the United States next year. Reid's departure from Delta, which will be effective April 1, was widely rumored for the last several weeks. But the future of the carrier he is joining is by no means certain. Federal law prohibits foreign owners from holding a majority stake in airlines that operate domestic routes.