Air New Zealand Says It Doesn’t Have to Refund Cancelled Flights . Virgin Australia has entered voluntary administration, leaving the jobs of at least 15,000 airline workers and connected supply chain workers under a cloud. If you have a Virgin Money insurance policy, you can still make claims as normal. Virgin Australia. Deloitte was appointed Voluntary Administrator of Virgin Australia Holdings Limited and subsidiaries on 20 April 2020. Price War: Virgin, Rex Sell $49 Sydney-Melbourne Flights . Cash-strapped airline, Virgin Australia (Virgin Australia Holdings) enters voluntary administration. Cash-strapped Virgin Australia collapsed Tuesday, making it the largest carrier yet to buckle under the strain of the coronavirus pandemic, which has ravaged the global airline industry. Tickets are up to 35 per cent off, and include baggage across domestic routes in both economy and business class. What's New. subsidiaries (all Administrators Appointed) (the Companies or Virgin Australia Group), would like to provide you with an update in respect of certain important matters relating to the administration of Virgin Australia Group of companies. Virgin Australia’s headquarters are in Brisbane. Virgin Australia is selling 500,000 tickets from $75 including baggage as travellers’ confidence grows. This makes the company the first big corporate casualty for Australia, among the coronavirus pandemic. "Virgin Australia will play a vital role in getting the Australian economy back on its feet after the Covid-19 pandemic by ensuring the country has access to competitive and high-quality air travel." Particularly so in the case of Virgin Australia Holdings whose shares are 90 per cent-owned by foreign state corporations in China, Abu Dhabi and Singapore; and Sir Richard Branson who resides in his own island in a tax haven. Travellers have until 20 November 2020 to snag the discounted one-way fares, as part of the airline’s ‘Go you good thing’ sale. SYDNEY (Reuters) - Le gouvernement australien a dévoilé jeudi un plan de soutien à l'industrie du tourisme de 928 millions de dollars (778 millions … Virgin Australia is expected to go into voluntary administration after state government crisis talks failed to raise enough money to keep the airline flying. Unsecured creditors of Virgin Australia are unlikely to see much of a return on their billions of dollars in exposure. With today’s news that Virgin Australia lost $350 million in the last year and is likely to cut routes and jobs, I am wondering what will happen to my velocity points if they go under? 20,000 Qantas Points (Plus Six Great Bottles of Wine) for $399 . The company is unable to re-pay any of its A$5 billion debt, ultimately struggling to stay afloat. Virgin Australia is 90 per cent foreign-owned, with Singapore Airlines, Etihad Airways and Chinese conglomerates HNA Group and Hanshan owning 80 … International law firm Hogan Lovells is holding discussions with some bondholders of distressed airline carrier Virgin Australia, ahead of a first creditors meeting set for Thursday. Virgin Australia has gone into a trading halt ahead of an expected announcement. Marketplace. Virgin Australia's secret invitation-only The Club could be grounded when the rebooted Virgin 2.0 takes to the skies in the coming months.. VIRGIN Australia has gone into voluntary administration after failing to secure a Government bailout. It employs around 10,000 staff directly and indirectly provides employment for 6,000 more. Only Virgin Australia as an airline and Velocity points are currently being affected by this. I have 100k saved up and can’t use them straight away because I am studying. Tech5 on 28/08/2019 - 21:11-2 votes. Virgin Australia is selling trans-Tasman fares from early August despite one of its New Zealand businesses being in liquidation and its parent company in administration. Virgin Group's date of incorporation is listed as 1989 by Companies House, who class it as a holding company; however Virgin's business and trading activities date back to the 1970s.The net worth of Virgin Group was estimated at £5–5.5 billion as of November 2014. Our blog collections. Read our latest commentary, opinion-pieces and advice. Virgin Australia CEO Paul Scurrah spent Thursday and Friday making presentations to the bidders, outlining his vision for a Virgin 2.0 focused on the … Awards and Recognition. Travel. 04 September 2020: The Administrators of the Virgin Australia Group (Vaughan Strawbridge, John Greig, Sal Algeri and Richard Hughes – all Deloitte Restructuring Services partners) have confirmed the outcome of the second meeting of creditors held today. Lossmaking Virgin Australia, which has A$5bn in debt, has grounded most of its planes due to the coronavirus pandemic. Virgin Group Ltd. is a British multinational venture capital conglomerate founded by Sir Richard Branson and Nik Powell. Going into liquidation is not the company's aim, Deloitte said, and Virgin Australia instead prefer a 'sale or recapitalisation' of the company. Services. Velocity Frequent Flyer. The carrier is the latest airline to struggle due … With the meeting conducted online, creditors accepted 10 separate deeds of company arrangement (DOCAs) covering all 41 of the … Related Stores. Richard Branson's Virgin Group, which owns 10.42 per cent of Virgin Australia, was willing to put up between $200 million and $250 million but he … Virgin Australia was left parked on the tarmac with $6.8 billion in debt. Virgin Australia, the country’s second largest airline, went into administration in April, owing $6.8bn to more than 12,000 creditors. We are honoured to be recognised with these awards for making an impact that matters for our clients, communities and people. Created by former Virgin Australia CEO John Borghetti as his answer to the Qantas Chairman's Lounge – which, ironically, Borghetti oversaw during his time as Qantas' Executive General Manager – The Club is an elite program which Virgin uses to woo … This video considers what might come next for Virgin Australia. Air Namibia Enters Liquidation . Triple Qantas Business Rewards Points on Flights . Comments. Qantas to Wet Lease Alliance Airlines E190s . The Federal Government has been under pressure to help the … This includes whether VA should operate as a low cost airline, or a full service airline. Virgin bondholders have stepped up their fight for the airline. 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