Business
Qantas has suffered a $100 million hit to its first quarter earnings after several states closed their borders in July in response to Victoria’s coronavirus outbreak.
Opinion
Virgin Australia’s new US owner will slash jobs in a bid to keep the struggling airline afloat. But those familiar with private equity firms know the airline’s future is uncertain even after the pandemic passes, argues Mark Melatos.
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Four private equity firms are the leading candidates to buy Virgin Australia, the biggest regional casualty of the coronavirus crisis in the global aviation industry.
Virgin Australia’s administrator says 19 parties interested in purchasing the airline have been granted access to a data room as of May 11.
Virgin Australia is continuing to operate six flights a week between Adelaide and Melbourne, as the stricken airline begins the administration process.
Troubled airline Virgin Australia has entered voluntary administration after the debt-laden business was crippled by coronavirus restrictions, with up to 15,000 jobs left up in the air.
