The federal government has rejected at least one direct plea from Virgin Australia's administrator Deloitte for emergency funding to keep the airline alive, heightening concerns that Virgin might fall into liquidation before new owners are installed
The federal government has rejected at least one direct plea from Virgin Australia's administrator Deloitte for emergency funding to keep the airline alive, heightening concerns among bidders and unions that Virgin might fall into liquidation before new owners are installed.
Deloitte's lead administrator Vaughan Strawbridge said a fortnight ago Virgin had enough money to last until mid- to late-June but wouldnominating bidders, banks and government as possible sources of short-term cash to see it through the six weeks after that. Brookfield, which manages $US515 billion of assets around the world and was the union movement's preferred bidder, walked away from the sale process last Monday over concerns about liquidity and the short time frame.
Mr Strawbridge said in a statement he intended to settle on a final short list of two preferred parties early next week.
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