Several private equity firms are already sniffing around looking to potentially buy Virgin Australia out of administration, which will see some of its debts wiped and aircraft leases renegotiated
to looking at potential restructuring options and the accounting firm is expected to run the administration process, including trying to find new owners to keep it flying.Virgin's board of directors were meeting on Monday. One well-placed source said the announcement of it going into administration was "imminent".
Virgin's future had hung in the balance ever since the pandemic took hold. It had asked the federal government forSeveral private equity firms are already sniffing around Virgin looking to potentially buy the business out of administration, which will see some of its debts wiped and aircraft leases renegotiated.
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NSW government flags conditional Virgin bailout | Sky News AustraliaThe New South Wales treasurer has flagged the possibility the state government may offer Virgin Australia financial support if it moves its headquarters to the state.\n\nDominic Perrottet confirmed to Sky News he had been in discussions with the cash-strapped airline over its future and would like to see them become a tenant at the new Western Sydney Airport when it opens.\n\nThe Queensland government already offered $200 million - on several conditions - including it keeps its headquarters in Brisbane.\n\nBut the offer comes well short of the $1.4 billion the airline has sought out to survive the coronavirus crisis.\n\nImage: News Corp Australia\n\n
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NSW government negotiates with Virgin to relocate HQ to Sydney: Treasurer | Sky News AustraliaSky News host Sharri Markson has revealed NSW Treasurer Dominic Perrottet is in negotiations with Virgin Australia regarding “financial support” but the airline would “have to have the HQ of both Virgin and Tiger at the Western Sydney Airport site”.\n\nMr Perrottet told Sky News exclusively he has raised the possibility of Virgin moving its headquarters to the new aerotropolis facility at the new airport and it is “obviously part of the discussions we are having at the moment” regarding a potential bailout.\n\nThe Queensland Government have announced it would hand the airline $200 million in a bid to boost and maintain competition in Australia’s airline industry.\n\n“Virgin should have their headquarters for both Virgin and Tiger in Sydney,” Mr Perrottet said.\n\n“I’m always open for businesses right across the country to relocate to New South Wales and create jobs here in our state”.\n\nImage: Getty
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Victoria has 'no plans' to prop up embattled Virgin AustraliaThe Andrews government has rejected Queensland's call for 'all governments' to help fund embattled airline Virgin Australia through the coronavirus crisis.
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Labor calls on Morrison Govt to save thousands of Virgin jobs | Sky News AustraliaBill Shorten is calling upon the Morrison Government to ensure 'Virgin doesn't fall over'. \n\nMr Shorten said hundreds of families of Virgin workers are facing significant financial crises if the airline collapses. \n\nThe former opposition leader said Australia is facing the reality of becoming a one-airline nation. \n\n'If Virgin collapses a lifeline to the regions will be cut,' he said. \n\n“You’d have to believe in unicorns if you think that one large airline won’t see airfares go up,” he said. \n\nImage: News Corp Australia
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'We will bring a bazooka': States in a bidding war for Virgin HQQueensland has vowed to 'stop at nothing' to keep Virgin's headquarters in Brisbane and has warned the NSW government to 'back right off'.
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Queensland hits back at NSW Virgin bid: 'Back right off'Virgin Australia is in talks with the NSW government about a possible financial lifeline, but only if the cash-strapped airline moves its national headquarters to Western Sydney. 9News
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