Virgin Australia will reportedly go into voluntary administration after failing to find a way to keep the company afloat.
It’s understood its board is currently meeting and will make an announcement tonight.
The beleaguered airline is struggling to overcome the $5 billion in debt to come from the COVID-19 pandemic.
Sources have told media outlets the company was unable to secure assistance from the government, despite repeated efforts.
Virgin employs about 10,000 people directly and supports another 6000 jobs indirectly.
Deloitte is expected to handle the administration process.
More to come