Virgin Australia, like many others, has been seriously impacted by the shocking financial situation due to COVID-19. Virgin has been battling to deal with $5 billion debt and looking for financial aid from various different sources but has now run out of options.
The executive figures of the company have been gathering behind locked doors for the entire day, and according to the latest information, Deloitte has been appointed voluntary administrator.
On March 25 Virgin cut 90 percent of its flights and a staggering 80 percent of its employees have already stood down.
Understandably, Virgin being a large Australian employer, the situation has caused immense panic amongst the Virgin airline workforce and their families. Now, as the company is about to collapse completely, people are forced to face the reality – how are they going to pay their rents or home loans in the future?