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Virgin Australia preparing to enter voluntary administration: SMH
April 20, 2020
SYDNEY (Reuters) – Virgin Australia Holdings Ltd (VAH.AX) is preparing to enter voluntary administration, the Sydney Morning Herald reported on Monday, citing unnamed sources, with the cash-strapped carrier unable to weather the coronavirus crisis due to its debt load.
The newspaper said the airline’s board of directors was meeting on Monday, with a source saying the announcement of it going into administration was “imminent”.
Virgin did not respond immediately to a request for comment.