Troubled airline Virgin Australia has confirmed it is formally in voluntary administration.
Its board of directors has appointed Vaughan Strawbridge, John Greig, Sal Algeri and Richard Hughes of Deloitte as voluntary administrators of the airline and a number of its subsidiaries.
It will now try to recapitalise the business, to help it emerge “in a stronger position on the other side of the COVID-19 crisis”.
The Velocity Frequent Flyer arm, while owned by the group, is a separate company and is not in administration.
The decision comes as Virgin seeks financial assistance from a number of parties, including state and federal governments, to help it through the coronavirus crisis, however it is yet to secure the required support.