Ailing Virgin’s crash landing

Original article by Simon Benson, Robyn Ironside
The Australian – Page: 1 & 4 : 21-Apr-20

Virgin Australia’s creditors are unlikely to recover much of the money they are owed after the struggling airline was placed into voluntary administration. Virgin’s international shareholders agreed to the move after the federal government rejected a request from the carrier for a $100m emergency grant. Private equity firm BGH is believed to be among two potential buyers of Virgin, which could be revived as a low-cost airline focusing on the domestic market. Labor and unions have urged the government to take a stake in Virgin to ensure that it survives.

CORPORATES
VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, BGH CAPITAL PTY LTD, QANTAS AIRWAYS LIMITED – ASX QAN

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