Virgin Australia Enters Admin As Deloitte Takes Over
April 21, 2020
6:27 am
After being battered by the coronavirus crisis and a high debt load. Virgin Australia Holdings Ltd said on Tuesday it entered voluntary administration.
The aim was to recapitalise the business and emerge in a stronger financial position.
Deloitte has been appointed as the administrator, the airline said in a statement.
It said it had been unable to secure a A$1.4 billion ($887.60 million) loan from the federal government.
Virgin said the current management team led by chief executive Paul Scurrah would continue to run the business.
It would still operate scheduled domestic and international flights to help transport essential …
