Virgin Australia mulling voluntary administration – TravelMole true

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Virgin Australia mulling voluntary administration

Wednesday, 17 Apr, 2020 0

The union representing Virgin Australia Airlines’ pilots  made a last-ditch call for the government to save the ailing airline.

The Association for Virgin Australia Group Pilots is fully supporting the airline’s bid for a AU$1.4 billion rescue package as the company suspended trading in its shares.

Virgin is also mulling going into voluntary administration if a bailout isn’t forthcoming.

More than 16,000 jobs are at stake as its looks increasingly likely Virgin cannot survive without a handout.

The union says it will cost the taxpayer much more by not bailing the airline out now.

VIPA says if Virgin Australia goes bust, Qantas will have the benefit of a monopoly market and airfare will undoubtedly spike.

"The Morrison Government must act now to save Virgin Australia Airlines," said VIPA president, John Lyons.

"More than 16,000 workers are employed directly and indirectly by the airline. The economic effects of these job losses would be devastating to the Australian economy. The Morrison Government must act now to save these jobs."

"If Virgin Australia Airlines collapses the cost of travel for all Australians will skyrocket. We must have a healthy and competitive airfare market to keep the air fair for all travellers."

There is some reluctance to save Virgin Australia due to its number of foreign minority owners, which includes Chinese firm HNA, Etihad and the UK’s Virgin Group, however the alternative of a single homegrown airline serving the market is potentially a worse option.

 "Virgin Australia Airlines services many rural and regional areas. The Morrison Government cannot turn their back on Australians living in these areas and leave them unable to access flights."

 

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



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