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Virgin Australia enters voluntary administration

Apr 21, 2020

Brisbane (Australia), Apr 21: Australia's second-largest airline has entered voluntary administration after being battered by the coronavirus pandemic.
Virgin Australia Holdings Limited announced on Tuesday that it had appointed administrators to recapitalize the business "to ensure it emerges in a stronger financial position on the other side of the COVID-19 crisis."
In a statement to the Australian Stock Exchange, the airline said it will continue to operate its scheduled international and domestic routes.
Virgin Australia was forced to suspend all international flights and reduce domestic flights drastically due to travel restrictions imposed by the government in response to the coronavirus pandemic.
The collapse of the troubled carrier comes after it failed to secure financial assistance from Australian state and federal governments to stay afloat.
CEO Paul Scurrah said the company is determined to keep flying. He added, "Virgin Australia will play a vital role in getting the Australian economy back on its feet after the COVID-19 pandemic."
Source: NHK World