Virgin Australia enters administration

Virgin Australia has entered voluntary administration in the hope of emerging from the COVID-19 crisis in a “stronger financial position”.

Australia’s second-largest airline made the announcement on Tuesday in a statement to the Australian Securities Exchange.

It confirmed the appointment of a team of administrators from Deloitte and said it wanted to “recapitalise the business and help ensure it emerges in a stronger financial position on the other side of the COVID-19 crisis”.

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