Denied a bailout, Virgin Australia a warning for other airlines

The collapse of Virgin Australia after the briefest of fights indicates the world’s weakest airlines have little time to secure funds before they succumb to the coronavirus. The debt-laden carrier became the outbreak’s biggest airline scalp when it handed control to administrators Tuesday. A near-halt in passenger revenue overwhelmed the company in less than 2 months. “We should get used to news of this kind,” said Volodymyr Bilotkach, a lecturer in air-transport management at the Singapore Institute of Technology. “We’ll see more airlines go under." The speed of Virgin Australia’s unravelling suggests industry groups haven’t been exaggerating in raising the alarm with increasing frequency. IATA has said half of airlines face bankruptcy in 2 to 3 months without govt help. <br/>