Today, the cash-strapped Virgin Australia announced that it has decided to stop paying, making it the largest airline in the world to collapse due to the repercussions of the emerging corona virus.
Today, Virgin Australia appeared with a very difficult new decision after experiencing financial hardship, on Tuesday, that it decided to stop paying, thus becoming the largest airline in the world that collapses due to the repercussions of the emerging Corona virus.
The company said in a notice to the Australian Stock Exchange that it intends to continue operating its flights, despite the fact that its fate is now in the hands of judicial guards.
"Our decision today is to secure the future of the Virgin Australia Group and get out of the Covid-19 crisis," the company's CEO, Paul Skoura, said in the notice.
He added, "Australia needs a second airline, and we are determined to continue flying."
Virgin Australia, which has about 10,000 employees, is debt-strapped to over A $ 5 billion ($ 3.2 billion), and has asked the Australian government to lend A $ 1.4 billion to survive, but Canberra has refused to bail out a company majority owned by foreigners.