A host of local and international law firms are working on the voluntary administration of Virgin Australia after the coronavirus crisis and its high debt put its future in doubt.
The Virgin Australia board put the airline into voluntary administration – similar to the Chapter 11 bankruptcy protection in the US – on Monday night after the government refused financial assistance to the airline and major shareholders Singapore Airlines and Etihad Airways, Chinese conglomerates Nanshan Group and HNA Group declined to further support the carrier.
