Virgin Australia seeking government loan to weather coronavirus crisis

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Virgin Australia Holdings Ltd said on Tuesday it is seeking a government loan of A$1.4 billion ($862.68 million) and exploring other options to get through the coronavirus crisis.

FILE PHOTO: A Virgin Atlantic Airbus comes in to land at Heathrow aiport in London, Britain, June 25, 2018. REUTERS/Toby Melville/File Photo

“It is a preliminary proposal and remains subject to approval by the Virgin Australia Holdings board, and may or may not include conversion to equity in certain circumstances,” the airline said in a statement. “Support will be necessary for this industry if the crisis continues indefinitely, to protect jobs and ensure Australia retains a strong, competitive aviation and tourism sector once the crisis is over,” Virgin said in a statement.

 

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Ask China for loans, you’ll get a better deal because the currency you receive will depreciate and you’ll end up with more losses than necessary.

Bootstraps.

Why doesn't bank like to offer the virgin australia a loan so it can hunker down until the virus passing over?

One of the owners of Virgin Australia...a Chinese conglomerate with ties to the Chinese government.

Maybe use a virgin Australia plane to illustrate the story, rather than a virgin Atlantic one!

China's largest manufacturer of epidemic prevention materials. Medical masks, protective clothing, gloves, infusion sets, etc. Welcome to negotiate and order! Jack from Zhengzhou Newsky International Co., Ltd. China. ShengGuang 圣光医用制品股份公司 Jack 赵亚峰+86-13837195059.

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