READ MORE:* Coronavirus: Say goodbye to economy class* Coronavirus: Richard Branson turns to his island to help bolster Virgin empire* Coronavirus: Virgin Australia confirms collapse, appoints administrators* Coronavirus: Richard Branson tells staff Virgin airlines needs govt fundingFAIRFAX MEDIA Virgin Australia was put into voluntary administration on Tuesday after a decade of near-continuous losses. Virgin Blue was founded in 2000 by the flamboyant British entrepreneur Richard Branson, floated on the Australian Securities Exchange in 2003 and rebranded Virgin Australia in 2011 after the original owners lost control. So rather than contributing more capital, Virgin Australia’s major shareholders have used the Covid-19 crisis to look for bail outs. He has made public appeals to his Virgin Australia “family” praising all the good that Virgin does across the world. ITS FUTURE ISN’T GUARANTEEDPaul Scurrah says without the debt Virgin Australia will come back “leaner, stronger and fitter.”But Australia has long found it difficult to sustain two major airlines.

Source: Stuff April 26, 2020 21:56 UTC