Virgin Australia CEO Paul Scurrah says the embattled airline is not expecting to receive a federal government bail-out following its descent into voluntary administration. He adds that the government has rejected nine requests from Virgin for financial assistance.
Treasurer Josh Frydenberg said that Virgin is controlled by five large foreign shareholders that have “deep pockets”. The Coalition is also concerned that bailing-out Virgin would set a precedent for government ownership of other struggling companies.
Meanwhile, Vaughan Strawbridge of Deloitte, who has been appointed as administrator of Virgin, believes that the carrier could be sold within 2-3 months and that more than 10 potential buyers have expressed interest, including a number of overseas investors.
