Virgin Australia investment bid by State Government will 'need to stack up', Queensland Treasurer says - ABC News

The Queensland Government "can't afford not to" make a bid for Virgin Australia, Treasurer Cameron Dick says.The State Government's bid for Virgin could be a direct equity stake, a loan, a guarantee or other financial incentives

Virgin called in administrators in late April after the Federal Government knocked back a plea for a $1.4 billion loanAustralia's troubled second airline saw its cashflow collapse because of the tough coronavirus travel restrictions and being saddled with billions in debt.Mr Dick told ABC Radio Brisbane that it was an important airline to the state, which is headquartered in Brisbane.

"I want to save 5,000 jobs, keep the airline the best we can and support regional Queensland and keep those jobs, particularly the headquarters for Virgin in Queensland," Mr Dick said.

Nothing is safe in the hands of camerondickqld alias BAZOOKA Dicky

More debt for Queensland. This time they can really bankrupt the state. More urgent things needs to be fix after fire and drought than this

Hopefully more flights out of Queensland than into.

I think its a great move. The knock on benefits financially far outweigh whatever the airline may or may not make. Airlines don’t make money. They never have. But without them, you don’t have a thriving economy.

Why are we bidding on a failing business?

Something about barge poles and keeping your distance?

Sounds like a backtrack to me 😂

One minute the QLD Govt is bidding for the Olympic Games and the next they want to buy Virgin. Anyone would think they have a surplus of tax payer cash Oh no wait it is an election year.....

Labor is trying to buy the next election with taxpayers money

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

More than 20 companies express interest in Virgin Australia purchase | Sky News AustraliaVirgin Australia's administrators Deloitte says it is ready to relaunch and resell the airline after it went into voluntary administration with almost $7 billion worth of debt. \n\nThe creditor said around 20 companies expressed interest in purchasing the company with non-binding, indicative offers due on Friday.\n\nThe future of more than 9,000 Virgin staff remains in limbo but the airline sought to assuage fears saying it was not looking to make anyone redundant. \n\nFor customers, the airline promised to credit any pre-purchased tickets for future flights at a later date however refunds would be unlikely.\n\nMeanwhile regional airline Rex said it was seeking to raise $200 million to create a new domestic flight service between capital cities which would lead to increased competition in the floundering industry.\n\nThe move could lead to the increased leasing of aircraft and the hiring of additional staff in the sector.\n\nImage: News Corp Australia\n\n This will be a steal for Middle Eastern and Asian carriers to make an entry into the Australian domestic. Please ensure Virgin DO NOT SELL TO ANY CHINESE OWNERS or any anonymous bidders that may originate from China. We Need to keep it Australian owned only. Pleases How I can get citizen ship of Austrailia
Source: SkyNewsAust - 🏆 7. / 78 Read more »