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  • Cash-strapped airline Virgin Australia announced it had gone into voluntary administration on Tuesday, 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 Aus$5 billion ($3.2 billion) in debt and had appealed for an Aus$1.4 billion loan to stay afloat, but the government refused to bail out the majority foreign-owned company. hr/jah
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  • Virgin Australia collapses under coronavirus strain
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