The federal government has rejected at least one direct plea from Virgin Australia's administrator Deloitte for emergency funding to keep the airline alive, heightening concerns among bidders and unions that Virgin might fall into liquidation before new owners are installed.
Deloitte's lead administrator Vaughan Strawbridge said a fortnight ago Virgin had enough money to last until mid- to late-June but wouldnominating bidders, banks and government as possible sources of short-term cash to see it through the six weeks after that. Brookfield, which manages $US515 billion of assets around the world and was the union movement's preferred bidder, walked away from the sale process last Monday over concerns about liquidity and the short time frame.
Mr Strawbridge said in a statement he intended to settle on a final short list of two preferred parties early next week.
ScottMorrisonMP JoshFrydenberg M_McCormackMP Great work Gentleman, no Bailout or Loan to VirginAustralia. An Airline that has been financially mismanaged for a long period of time auspol NoBailOut LiberalAus The_Nationals
Virgin is owned by airlines with very deep pockets but lots of money! Let them bail it out!
Who cares
Sounds like they want VIRGIN to go under, and then allow the Chinese to move in and buy it up cheap ...this government is shifty as all hell
Not a cent. Let their shareholders sort it out.
Well Done AUS GOV. It is not the Australian taxpayers responsibility to savevirgin. virginaustralia management should’ve considered the major ramifications of not being financially responsible. Totally ridiculous AustralianLabor TWUAus support funding. auspol
The LNP want a one airline nation like they want a one party state. auspol
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