Etihad-backed Virgin Australia collapses as virus wipes out global air travel - Arabianbusiness

Etihad-backed Virgin Australia collapses as virus wipes out global air travel - Arabianbusiness:

Virgin Australia Holdings Ltd. became Asia’s first airline to fall to the coronavirus after the outbreak deprived the debt-burdened company of almost all income.

Administrators at Deloitte, who have taken control of the Brisbane-based carrier, aim to restructure the business and find new owners within months. More than 10 parties have expressed an interest, Deloitte said Tuesday.

Virgin Australia joins FlyBe - the UK’s biggest domestic airline before it collapsed last month - among the industry’s corporate casualties of the virus. Airlines have been pummeled by domestic and international travel bans that forced them to seek government aid.