Coronavirus: Virgin Australia seeking A$1.4b bailout, halts trading

Virgin Australia has confirmed it asked the Federal Government for a A$1.4b bailout after the airline paused trading on the ASX Tuesday morning. The carrier responded to reports it had lobbied the government for financial support amid a massive downturn triggered by the coronavirus. "Virgin Australia acknowledges reporting in The Australian today and confirms it continues to explore a range of options to manage through the COVID 19 crisis, including requesting financial support from the Australian Government in the order of $1.4 billion as part of a broader industry support package to prepare for a prolonged crisis," the carrier said. Virgin Australia said it was taking a "range of measures" to respond to the financial hit on its business. "However, support will be necessary for the industry if this crisis continues indefinitely to protect jobs and ensure Australia retains a strong, competitive aviation and tourism sector once this crisis is over."<br/>