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BRIEF-Virgin Australia Administrator Says Has Team Of People Starting To Reach Out To Bondholders To Discuss Future

Published 21/04/2020, 11:27 am
© Reuters.
VAH
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April 21 (Reuters) - Virgin Australia Holdings VAH.AX :

* VIRGIN AUSTRALIA ADMINISTRATOR SAYS WANTS TO TALK TO BOEING ABOUT FATE OF AIRLINE'S 737 MAX ORDER

* VIRGIN AUSTRALIA ADMINISTRATOR SAYS 'EXTRAORDINARY NUMBER OF PARTIES' INTERESTED IN RESTRUCTURE ALREADY, FLYER BEING SENT OUT TODAY

* VIRGIN AUSTRALIA ADMINISTRATOR SAYS EXPRESSIONS OF INTEREST EXPECTED IN NEXT 3 WEEKS AND MORE TALKS WITH PARTIES FOR 4 TO 5 WEEKS AFTER THAT

* VIRGIN AUSTRALIA ADMINISTRATOR SAYS MORE THAN 10 PARTIES HAVE EXPRESSED INTEREST IN RESTRUCTURE

* VIRGIN AUSTRALIA ADMINISTRATOR SAYS NO PLANS FOR STAFF REDUNDANCIES, AIRLINE TO OPERATE AS NORMAL

* VIRGIN AUSTRALIA ADMINISTRATOR SAYS POINTS REDEMPTIONS PAUSED FOR A PERIOD IN AIRLINE'S VELOCITY FREQUENT FLYER PROGRAMME

* VIRGIN AUSTRALIA ADMINISTRATOR SAYS COMPANY HAS SUFFICIENT CASH TO OPERATE DURING RESTRUCTURING

* VIRGIN AUSTRALIA ADMINISTRATOR SAYS PREFERS TO SELL COMPANY AS WHOLE BUT MAY BE OPPORTUNITIES FOR INDIVIDUAL ASSET SALES

* VIRGIN AUSTRALIA ADMINISTRATOR SAYS NO INTENT TO RUN SEPARATE SALES PROCESS FOR VELOCITY FREQUENT FLYER PROGRAMME

* VIRGIN AUSTRALIA CEO SAYS IT WAS UNABLE TO SLOWDOWN A RECENT RUN ON POINTS REDEMPTION FOR FREQUENT FLYER PROGRAMME

* VIRGIN AUSTRALIA ADMINISTRATOR SAYS HAS TEAM OF PEOPLE STARTING TO REACH OUT TO BONDHOLDERS TO DISCUSS FUTURE

* VIRGIN AUSTRALIA ADMINISTRATOR SAYS DEED OF COMPANY ARRANGEMENT MOST LIKELY WAY TO QUICKLY COME OUT OF ADMINISTRATION, A PREFERENCE BUT NOT ABSOLUTE Further company coverage: BA.N

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