Deals
Virgin Australia Becomes First Asia Airline to Fail After Virus
- Carrier is Australia’s biggest corporate casualty of virus
- Administrators at Deloitte seek to recapitalize business
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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.