Virgin Australia has gone into voluntary administration after the country's Government again ruled out saving the airline, putting 16,000 jobs at risk.
The airline, which has been forced to cancel almost all its flights during the coronavirus outbreak, suspended trading in its shares on the Australian stock exchange last week.
Virgin Australia is 25% owned by Richard Branson's Virgin Group, with other investors including Etihad, HNA of China and Singapore Airlines also having stakes.
Australia's Federal Government reportedly rejected Virgin’s repeated requests for an emergency bailout package, with the airline already struggling with £2.5billion of debt. "Virgin Australia has entered voluntary administration to recapitalise the business and