After brisbane/travel-leisure/virgin-australia-will-suspend-all-international-flights-from-march-30″ target=”_blank”>cancelling all international flights late last month and melbourne-service” target=”_blank”>all domestic flights bar one daily route in early April, Virgin Australia has entered voluntary administration.
In a statement to the Australian Stock Exchange this morning, Tuesday, April 21, the Australian airline confirmed it had appointed Deloitte’s Vaughan Strawbridge, John Greig, Sal Algeri and Richard Hughes as its voluntary administrators in an attempt to recapitalise and come out of the COVID-19 crisis in a “stronger financial position”.
Virgin Australia Group Chief Executive Officer Paul Scurrah confirmed the airline will continue to operate its scheduled domestic and international flights, which are helping to “transport essential workers, maintain important freight corridors, and return Australians home”, and is “determined to continue flying”.
“Australia needs a second airline,” Scurrah said in the statement. “Virgin Australia will play a vital role in getting the Australian economy back on its feet after the COVID-19 pandemic by ensuring the country has access to competitive and high-quality air travel”.
The airline’s decision to enter voluntary administration comes as it battles a reported $5 billion debt. While the Federal…
