• Advertise
  • Contact
GFH News
Advertisement
  • Home
  • Economy
  • Politics
  • Others
    • Security
    • Health
    • Metro/General News
    • Crime
    • Law/Judiciary
    • Entertainment
  • Contact
No Result
View All Result
  • Home
  • Economy
  • Politics
  • Others
    • Security
    • Health
    • Metro/General News
    • Crime
    • Law/Judiciary
    • Entertainment
  • Contact
No Result
View All Result
GFH News
No Result
View All Result
Home Foreign

Virgin Australia goes into voluntary administration

gfhnews.com by gfhnews.com
April 21, 2020
in Foreign
0
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Virgin Australia has entered voluntary administration, with some 16,000 jobs up in the air, due to the coronavirus crisis after the airline failed to secure a government bailout of 1.4 billion dollars (890 million U.S. dollars).

The Brisbane-based company confirmed the news on Tuesday morning, saying it went into insolvency “to recapitalise the business and help ensure it emerges in a stronger financial position on the other side” of the COVID-19 crisis.

“In 20 years, the Virgin Australia Group has earned its place as part of the fabric of Australia’s tourism industry,” Paul Scurrah, group chief executive for Virgin Australia, said in a statement.

The group’s airlines flew to 41 destinations, including major cities and regional communities, and contributed around 11 billion dollars (6.9 billion U.S. dollars) to the Australian economy every year, he said.

The decision comes as Virgin Australia sought financial assistance from a number of parties, including state and federal governments, to help it through an unprecedented financial crisis.

However, the carrier has not been able to secure the required support, Virgin Australia said in a statement.

It will continue to operate a limited schedule of flights.

Four officials from Deloitte accounting firm have been chosen as administrators of the company and some of its subsidiaries.

“Our intention is to undertake a process to restructure and re-finance the business and bring it out of administration as soon as possible.

“We have commenced a process of seeking interest from parties for participation in the recapitalisation of the business and its future, and there have been several expressions of interest so far,” said Vaughan Strawbridge, one of the administrators.

Previous Post

Stay at home to prevent community spread of COVID-19, D-G Biosafety agency advises

Next Post

UN survey shows climate, conflict, health issues expected to affect future most

gfhnews.com

gfhnews.com

Next Post

UN survey shows climate, conflict, health issues expected to affect future most

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 79 Followers
  • 22.9k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
Creative Industry Group honours Ovularia of ‘New Masquerade’

Creative Industry Group honours Ovularia of ‘New Masquerade’

December 6, 2020
Arrest me with proof that I plan instigating violence in Ebonyi — Egwu

Arrest me with proof that I plan instigating violence in Ebonyi — Egwu

November 28, 2020
Witness reveals roles played by Lt.-Col. Bello, Brig.-Gen. Omata at Lekki Tollgate shootings

Ilorin popular Prophet bags 4-yr jail term for dealing in human parts

December 14, 2020
Police operatives rescue two persons from bandits in Kaduna

3 in police net for allegedly stealing 3-day-old child in Kaduna

November 27, 2020

My career at a crossroads – Aubameyang

2

Lady, 28, dumps my 65year-old brother at LUTH after stealing his millions – Sister

2

Court orders final forfeiture of N426.7m belonging to rtd. Army General

1

Mapoly 2007 Mass Comm graduates provide stimulus packages for colleagues

1
Witness reveals roles played by Lt.-Col. Bello, Brig.-Gen. Omata at Lekki Tollgate shootings

Court dissolves 10-year-old marriage over mother-in-law’s interference

January 15, 2021
WHO warns against use of remdesivir for COVID-19 patients

COVID-19: fat people have higher risk of complications – expert

January 15, 2021
WHO warns against use of remdesivir for COVID-19 patients

COVID-19: Schools in Edo to remain closed till Feb. 1 – Obaseki

January 15, 2021
Ex-servicemen’s protest: Members dissociate selves, condemn leader’s action

Military airstrike eliminates scores of terrorists in Borno – DHQ

January 15, 2021

Recent News

Witness reveals roles played by Lt.-Col. Bello, Brig.-Gen. Omata at Lekki Tollgate shootings

Court dissolves 10-year-old marriage over mother-in-law’s interference

January 15, 2021
WHO warns against use of remdesivir for COVID-19 patients

COVID-19: fat people have higher risk of complications – expert

January 15, 2021
WHO warns against use of remdesivir for COVID-19 patients

COVID-19: Schools in Edo to remain closed till Feb. 1 – Obaseki

January 15, 2021
Ex-servicemen’s protest: Members dissociate selves, condemn leader’s action

Military airstrike eliminates scores of terrorists in Borno – DHQ

January 15, 2021

GFH News is a Nigeria based online news platform that gives news on the go. Our team gather news from different sectors, locally and internationally, with fact checks.
Get the news as it breaks.

Browse by Category

  • Agriculture
  • Banking
  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Environment
  • FACT CHECK
  • Feature
  • Foreign
  • Health
  • Labour
  • Law/Judiciary
  • Metro/General News
  • Oil&gas
  • Politics
  • Religion
  • Science
  • Security
  • Sports
  • Technology
  • Tourism
  • Uncategorized
  • work

Recent News

Witness reveals roles played by Lt.-Col. Bello, Brig.-Gen. Omata at Lekki Tollgate shootings

Court dissolves 10-year-old marriage over mother-in-law’s interference

January 15, 2021
WHO warns against use of remdesivir for COVID-19 patients

COVID-19: fat people have higher risk of complications – expert

January 15, 2021
  • Advertise
  • Contact

© 2020 GFH News

No Result
View All Result

© 2020 GFH News