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NSW Considers Virgin Australia Bailout

But Demands Headquarters Move To
Sydney

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 Image: Getty

AAP
Sun 19 Apr 2020 9.06 PM

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 The NSW government is in talks with Virgin Australia about giving the
cash-strapped airline a possible nancial lifeline, but only if it moves its
national headquarters from Brisbane to Sydney.
Virgin is carrying about $5 billion in debt and its domestic and international business has been hit due
to the impact of the coronavirus.

The carrier has been seeking federal help to keep it running but the Morrison government has rejected
its request for $1.4 billion.

The Queensland government has announced it had offered $200 million to help rescue Virgin, so long
as it maintains its Brisbane HQ.

Now NSW has stepped in, with Treasurer Dominic Perrottet telling Sky News on Sunday night it was
considering offering support and pointing to the new aerotropolis being built at Badgerys Creek in
western Sydney.

READ MORE

Australia Pushes For Independent Inquiry Into China's Handling Of

Coronavirus

"Virgin should have their headquarters for both Virgin and Tiger in Sydney," Perrottet said.

Tiger Air is owned by Virgin Australia.

Uncon rmed reports in The Courier Mail suggest China Southern Airlines, China East Airlines and Air
China are currently in talks about a joint investment to purchase the airline.

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 Five foreign companies own over 90 percent of Virgin Australia. They include Singapore Airlines,
Etihad Airways, China's Nanshan Group and HNA, and Sir Richard Branson's Virgin Group.

Image: AAP.

However, none of these companies are rushing to help the struggling airline.

"I'm always open for businesses right across the country to relocate to New South Wales and create
jobs here in our state, particularly when you look at the aerotroplis in western Sydney," Perrottet said.

"It provides a signi cant opportunity for Virgin and other airlines to relocate to our state."

#travel #coronavirus

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