Virgin will continue to operate while in voluntary administration, and is not collapsing, the airline’s boss says.
CEO Paul Scurrah says today’s announcement that the carrier was in administration was tough, but the plan was for the group to survive the economic impact of the coronavirus pandemic.
At least 10 potential investors, some international, are understood to be circling the failed airline.
Virgin may yet be sold to a buyer. AAP
“This is a tough day for our airline … (but) we’re certainly not collapsing,” he told reporters.
The coronavirus pandemic was responsible for the worst aviation crisis imaginable but Virgin would be back, Mr Scurrah said.
“We take comfort from the comments from the government that this country needs a robust and healthy two-airline market,” Mr Scurrah said.
“And because of this process we’re going through, because of the early decision of our board, that airline will be Virgin Australia.
“We’ll come back leaner, stronger and fitter.”
Over the past decade the shareholders of Virgin Australia have invested more than $6 billion into the airline.
Mr Scurrah described the decision to go into administration as “very courageous”.
A passenger is seen at the Virgin Australia terminal at the brisbane Domestic…