Virgin Australia, partly owned by SIA, collapses under coronavirus strain

[micromachine]

BRISBANE — Cash-strapped airline Virgin Australia announced it had gone into voluntary administration on Tuesday (April 21), making it the largest airline to collapse under the shock of the coronavirus outbreak.

In an announcement to the Australian Stock Exchange (ASX), Virgin said it planned to keep operating flights despite handing over the keys to administrators.

"Our decision today is about securing the future of the Virgin Australia Group and emerging on the other side of the Covid-19 crisis," CEO Paul Scurrah said in the statement.

"Australia needs a second airline and we are determined to keep flying."

The airline was more than AUD$5 billion (S$4.51 billion) in debt and had appealed for an AUD$1.4 billion loan to stay afloat, but the government refused to bail out the majority foreign-owned company.
Read more at https://www.todayonline.com/world/virgin-australia-collapses-under-coronavirus-strain

 

[nayr69sg]

I think any airline that is not backed by government ie national carrier will go under in the coming year.

Likely the national carrier will buy the competitor for cheap.

 

[Valium]

All these farkin VIRGIN. PCB

 

[tanwahtiu]

It was created for cheap flights to compete with gov owned airlines. So bad times these traitors will die early. Cheap thing are not good, but bad things is Not that bad too. Devil can use it...

 

[spotter542]

Our national carrier also in deep shit now
Tia gong wanna sha lui from Temasick to pang

 

[Hypocrite-The]

Kangaroo travellers are basically fucked as Qantas will be a monopoly n charge even higher prices. Personally I prefer virgin to Qantas in kangaroos lands. Service is better. The terminal is better etc. Qantas is soo overrated. Anyway domestic flights in ozland are a RIP off unless u are travelling between majo cities of Melbourne n Sydney

 

[nayr69sg]

Kangaroo travellers are basically fucked as Qantas will be a monopoly n charge even higher prices. Personally I prefer virgin to Qantas in kangaroos lands. Service is better. The terminal is better etc. Qantas is soo overrated. Anyway domestic flights in ozland are a RIP off unless u are travelling between majo cities of Melbourne n Sydney

I guess when you are poor anything cheap is what you have to go with.

Beggar cant be chooser.

Now with no more cheap option I guess no more flying for you. How to afford?

Long car rides and adventures then. Good that you live in Oz.

 

[blackmondy]

Sad it died a virgin.

 

[Leongsam]

Virgin received the broomstick treatment and is thus no more.

 

[krafty]

 

[A Singaporean]

Good news. SIA Next.

 

[red amoeba]

SIA has a Midas touch. Invest ansett,ansett collapse. Then that Indian airline that has gone silent. Now virgin.