Virgin Australia collapses

Hard landing: Cabin crew members standing next to a Virgin Atlantic flight to London. The airline is among the industry’s corporate casualties of the Covid-19 pandemic. — Reuters

SYDNEY: 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 yesterday.