The announcement did not come as a surprise to many, as shareholders are typically the last to get paid out when a company goes into administration.
The total value of Virgin Australia’s shares is about $725 million valued at 8.6 cents each. There are minimal retail investors as the airline is 90 per cent foreign owned, so big corporations are the major losers of Deloitte’s announcement. Image: News Corp Australia
I would be more interested in how much unsecured creditors will be repaid, ie cents in the dollar. I doubt the big shareholders expected to get anything out of the administration
Take that.
Meanwhile the LNP govt gives a leg up to foreign-owned REX whose chairman just happens to be Mr John Sharp former federal National Party MP and Minister for Transport in the Howard government. Airlines globally are going under but REX announces expansion after receiving *grants*.
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