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Virgin Australia enters voluntary administration

Thursday 23, Apr 2020

The NSW Government has confirmed its support for a competitive aviation sector in response to Virgin Australia Group entering voluntary administration.

NSW Treasurer Dominic Perrottet and Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres released a statement yesterday outlining that the NSW Government’s objective is to serve the people of NSW.

“The NSW Government believes our state and nation are best served by having a competitive aviation sector,” the statement said.

“We have been in discussions with Virgin, as have other States, about their future. We will continue these discussions with the Administrators and the Federal Government.

“We will always act in the best interests of the people of NSW. Any measures the NSW Government takes are aimed and keeping business in business and people in jobs.”

Virgin Australia Group’s Board of Directors appointed representatives of Deloitte as voluntary administrators of Virgin Australia to recapitalise the business and help it emerge in a stronger financial position on the other side of the COVID-19 crisis.

Virgin Australia will continue to operate a limited schedule of international and domestic flights to transport essential workers, maintain freight corridors, and return Australians home. The administrators will be supported by the Group’s current management team, led by Chief Executive Officer Paul Scurrah.

Velocity Frequent Flyer, while owned by the Group, is a separate company and is not in administration.

Read the full statement from Virgin Australia.