Virgin Australia Becomes First Asia Airline to Fail After Virus

Virgin Australia Holdings Ltd. became Asia’s first airline to fall to the coronavirus after the outbreak deprived the debt-burdened company of almost all income.

Administrators at Deloitte, who have taken control of the Brisbane-based carrier, aim to restructure the business and find new owners within months. More than 10 parties have expressed an interest, Deloitte said Tuesday.

Virgin Australia joins FlyBe — the U.K.’s biggest domestic airline before it collapsed last month — among the industry’s corporate casualties of the virus. Airlines have been pummeled by domestic and international travel bans that forced them to seek government aid.

Virgin Australia planes parked at Sydney Airport on April 17.

Photographer: James D. Morgan/Getty Images

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