Virgin Australia to enter administration

Virgin Australia, struggling under the joint weight of Au$5 billion in debt and the dire problems generated by the loss of income from Covid19, is to enter voluntary administration.

The Australian Government said that if its shar holders, which include Singapore Airlines, the Government of Abu Dhabi, and Virgin Group, along with a pair of large Chinese conglomerates, couldn’t invest more then neither were they.

The Governments position is somewhat disingenuous. Most of the share holders who’d have to provide cash don’t have any for the very same reason Virgin Australia is going under.

The consequences of Qantas being the only major airline on the continent in a virtual monopoly might suit Qantas, but it most certainly won’t benefit Australian consumers.