Virgin Australia has gone into a trading halt ahead of an expected announcement.
It is the company’s second trading halt in as many weeks as it seeks a $1.4 billion loan from the federal government.
Canberra has been under pressure to help the struggling airline, which has grounded its aircraft and stood down thousands of workers because of the coronavirus pandemic.
- Virgin suspends domestic flights in virus crisis
- Virgin cuts fleet, quits routes
- Virgin stands down thousands of employees
Virgin Australia chief executive Paul Scurrah has urged the federal government to help it stay afloat.
Without that cash, aviation industry experts have predicted the airline will struggle to survive beyond September.
There are also suggestions Virgin is considering an alternative that could involve restructuring its debt if the government does not step in with financial assistance.
-more to come
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