Virgin vows to bounce back ‘leaner, stronger’ from administration

Virgin Australia Chief Executive Paul Scurrah has vowed the airline will survive the "worst aviation crisis" in history, guaranteeing it will bounce back “leaner, stronger and fitter”. The airline entered voluntary administration on Tuesday after the government knocked back a last-ditch request for a $100 million grant to keep the company afloat for another couple of weeks. Chief executive Paul Scurrah praised the board's decision to quickly enter administration. "Our board made a very courageous decision last night to put the company into voluntary administration and do so quickly, with the intent of working with our administrator, Deloitte, to come through and be as strong as we possibly can on the other side of this crisis,” he said. Mr Scurrah also thanked the government for its commitment to a two-airline system. Virgin Australia’s administrator, Vaughan Strawbridge, revealed there were “in excess of 10 parties” that have expressed interest in the airline. "Obviously, we have to keep those parties confidential, but they are in excess of 10 parties and I’ll say in excess of 10 parties who are known to us who have got a keen interest in being part of the restructure of Virgin,” he said.

from National | Daily Telegraph https://ift.tt/2z9AG5R