Bailing out Virgin would have burned taxpayers

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Earlier this month, Virgin Australia and Labor requested that Australian taxpayers provide an emergency $1.4 billion loan to Virgin to ensure that it could remain operational.

This request was rebuffed by the Morrison Government and consequently Virgin went into administration last week.

Today it has been revealed that Virgin owes 10,000 creditors a combined $6.8 billion:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.