Virgin Australia’s creditors are unlikely to recover much of the money they are owed once the ailing airline is placed into voluntary administration later today.
Virgin’s international shareholders agreed to the move after the federal government rejected a request from the carrier for a $100 million emergency grant.
However, Virgin has been handed a possible lifeline, with private equity firm BGH believed to be among two potential buyers of the airline, which could be revived as a low-cost airline focusing purely on the domestic market.
