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Virgin Australia enters voluntary administration

Virgin Australia confirmed to the ASX on Tuesday morning that the airline has entered voluntary administration.

Virgin Australia say in a statement the Board of Directors has appointed Deloitte as voluntary administrators of the company.

They go on to say they did seek financial assistance from a number of parties, but failed to get the support.

Virgin Australia has told customers in a tweet that the company will continue with scheduled flights and travel credits will remain valid.

Aviation writer Geoffrey Thomas explained the situation.

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