Virgin Australia officially in Administration, continues flights

In a statement to the Australian Stock Exchange, Virgin Australia confirmed confirmed it had placed itself into Voluntary Administration. The statement said the move would enable a recaptilisation of the business. pic.twitter.com/b7xW5NDANo — Virgin Australia (@VirginAustralia) April 20, 2020 Vaughan Strawbridge, John Greig, Sal Algeri and Richard Hughes from Deloitte have been appointed as the…

Explainer: what’s next for Virgin Australia?

With the confirmation of reports that Virgin Australia is entering voluntary administration earlier this morning, frequent flyers and the Australian public have voiced concern over what lies ahead for the troubled airline. Virgin Australia Holdings Limited, under the strain of around A$5.3 billion in debt and the Australian Government rejecting its requests for $1.4 billion…

Queensland Government offers Virgin Australia conditional $A200 million

The Queensland state government has offered Virgin Australia a conditional $200 million bailout ($127.3 million, €117.1 million £101.9 million). One of the conditions include Virgin keeping it’s headquarters in the Queensland capital of Brisbane. Other conditions include the Australian Government backing the airline, debt restructuring, shareholders and bondholders “doing their bit” and ongoing regional flights.…

Boeing to resume commercial airplanes production

Boeing will resume all Commercial Airplanes production in a phased approach at its Puget Sound-region facilities next week, after suspending operations last month in response to the COVID-19 pandemic. At all of its sites, the company has taken extra precautions and instituted comprehensive procedures to keep people safe and fight the spread of COVID-19. “The…