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Virgin Australia

    Airline News

    Voluntary Administration Woes For Virgin Australia

    by Zac George April 20, 2020

    In a time where Aviation itself is at an ultimate standstill due to the worldwide COVID-19 pandemic, Virgin Australia’s future remains a mystery. Latest reports flooding news outlets and social media suggest that Virgin Australia Airlines Pty Ltd are on the brink of voluntary administration.

    An airline that rose to its stature after a slow but steady expansion, Virgin’s presence has undoubtedly shaped the Australian Aviation Industry over the last two decades.

    It is understood that a meeting was held with the board of Virgin Australia tonight to discuss what type of action the airline must take to save the company. However, all signs are pointing to an unlikely recovery, unless money is pumped into the airline. This comes as Virgin announced another seven-day trading halt on Thursday.

    Virgin Australia 777 (Image – Rory Delaney)

    Voluntary Administration woes for Virgin Australia

    Trying to stay afloat, the airline’s request for a $1.4 billion loan from the federal government, was denied. Woefully, the airline’s name is tainted with a $5 billion debt hovering over its head.

    The biggest concern the airline has been constantly facing by the Australian public is that Virgin Australia is currently largely owned by foreign investors. The breakdown consists of 20.94% Etihad Airways, 20.09% Singapore Airlines, 19.98% Nanshan Group., 19.82% HNA Group and 10.42% Virgin Group. Thus, just over 90% of the company is held by foreign entities.

    Virgin Australia 737 Interior

    Moreover, the airline has faced significant backlash over its foreign ownership, with tax payers disagreeing that the Australian Government should bail them out and take over, with Virgin Australia potentially becoming at least 51% Australian owned.

    However, it seems that the majority of the general public have apparently forgotten that Qantas were given $1.35 billion by Finance Minister Ralph Willis in 1993 to pay out Commonwealth debts to keep the company afloat. To put this into perspective, that number equates to $3.26 billion in today’s figures.

    Virgin Australia A330 (Image – Rory Delaney)

    On a brighter note, Virgin Australia was offered $200 million by the Queensland Government as a lifeline during these troubling times caused by the COVID-19 Pandemic. It is also known that the Government will spend up to $165 million between Qantas and Virgin to assure the most significant regional and metro routes such as Mildura, Port Lincoln, Townsville and Tamworth as well being able to continue to be connected with Sydney and Melbourne.

    Moreover, Virgin Australia reduced its network by 90% on March 25 and stood down over 80% of their staff. Similarly, Qantas announced on March 19, a reduction of International capacity by around 90% and Domestic capacity by 60% until the end of May 2020, whilst putting two thirds of their workforce on leave.

    Both Virgin Australia and Qantas have taken measures in parking collectively over 200 aircraft in airports around Australia such as BNE, MEL, AVV, SYD and PER.

    Virgin Australia Business Class

    Although no official statement has been published by the airline as of yet, it is duly believed that we are only hours or days away before a formal announcement of Virgin Australia’s voluntary administration.

    Let’s take this moment to think of the 10,000+ employees that continue to be affected by the COVID-19 pandemic and Virgin’s unfortunate fallout. We will come out better than ever, united.

    April 20, 2020 1 comment
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  • Airline News

    Virgin Australia Temporarily Stops Points Transfers To Singapore Airlines

    by Zac George April 3, 2020
    April 3, 2020

    This post isn’t going to be the standard size of my regular articles but instead more of a quick update in regards to all of the information going around with airlines and …

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  • Airline News

    Virgin Australia To Ground Almost Their Entire Fleet + 8,000 Staff Temporarily Without Jobs

    by Zac George March 25, 2020
    March 25, 2020

    As more countries go into lockdown around the world, airlines are very busily making adjustments to their schedules and trying to get everything under control as the damage from COVID-19 continues to …

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  • Airline News

    Virgin Australia Will Give Frequent Flyers A Status Extension

    by Zac George March 19, 2020
    March 19, 2020

    As you would have seen the past few days, pretty much all of the posts being put out in someway have a relation to the COVID-19 virus be it airline news or …

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  • Airline News

    WOW – Virgin Australia Will Ground Their Entire International Fleet

    by Zac George March 18, 2020
    March 18, 2020

    As the COVID-19 virus continues to cause major problems around the globe, airlines are constantly making changes to their schedules and at a rapid rate, grounding fleets of aircraft. Virgin Australia previously …

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  • Promotions

    Book A Virgin Australia Flight For The Chance To Win 10 Million Points

    by Zac George March 17, 2020
    March 17, 2020

    It’s no doubt a tough time for Virgin Australia and has been for some time. Because of this, it wouldn’t be too surprising to see quite a few interesting and well-planned promotions …

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  • Travel News

    Virgin Australia Improves Its Change & Cancellation Policy – Everything You Need To Know

    by Zac George March 15, 2020
    March 15, 2020

    COVID-19 is no doubt going to be one of the most impactful things happening in Aviation over the next year and even into the coming years. While it’s visibly hurting tourism and …

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  • Airline News

    Virgin Australia Will Be Making Capacity Cuts

    by Zac George March 15, 2020
    March 15, 2020

    It’s no secret the past couple of years haven’t been the easiest for Virgin Australia, and unfortunately, the whole situation doesn’t seem to be changing anytime soon. The airline has been making …

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  • Airline News

    Earn Double Velocity Points On A Select Number Of Routes

    by Zac George February 26, 2020
    February 26, 2020

    It’s always nice when an airline offers some type of promotion, especially when you’re able to get double something. Virgin has been a little quiet this year with promotions, but it still …

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  • Airline News

    Velocity Points Are Now More Useful For Delta Air Lines Flights

    by Zac George November 26, 2019
    November 26, 2019

    Lately, we’ve been seeing some small but still pretty great things being rolled out from Virgin Australia’s Velocity frequent flyer program – let’s just hope that this is a sign of more …

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  • Promotions

    Transfer Flybuys Points To Velocity For A Chance To Win 1 Million Velocity Points

    by Zac George September 11, 2019
    September 11, 2019

    Virgin Australia first started their partnership with supermarket rewards program, Flybuys, back in 2016 and it’s still used more than ever and quite popular among shoppers. The unique partnership not only allows …

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  • Airline News

    Virgin Australia & Virgin Atlantic Announce New Partnership

    by Zac George May 1, 2018
    May 1, 2018

    Both Virgin Australia and London based carrier, Virgin Atlantic have today signed a new partnership which will enable passengers to easily and effortlessly travel from Australia to the United Kingdom or vice …

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Meet Zac

Meet Zac

Hi I'm Zac George, the founder of Points From The Pacific. I started this blog to bring you the best travel and airline news, reviews and insights. Thanks for stopping by, and please make yourself at home.

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About Zac

About Zac

Hi I'm Zac George, the founder of Points From The Pacific. I started this blog to bring you the best travel and airline news, reviews and insights. Thanks for stopping by, and please make yourself at home.

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