Virgin Australia requests USD850m from Australia's Government

Virgin Australia reported (31-Mar-2020) it continues to explore a range of options to manage the coronavirus crisis, including requesting financial support from the Australian Government in the order of AUD1.4 billion (USD855.9 million), as part of a broader industry support package to prepare for the crisis. The proposal is preliminary and remains subject to approval by the Virgin Australia Holdings Board and the Australian Government. The funding request may or may not include conversion to equity in certain circumstances. [more - original PR]