Business
Virgin staff told JobKeeper at risk if Bain deal voted down – Sydney Morning Herald
Virgin Australia’s administrator Deloitte has warned stood-down workers that their JobKeeper payments could be cut off if a deal to sell to the airline to Bain Capital is voted down.
Virgin Australia’s administrator Deloitte has warned thousands of stood-down workers that their JobKeeper payments might be cut off if a deal to sell the airline to Bain Capital is voted down at a creditors’ meeting next week.
Creditors owed $6.8 billion, including around 9000 Virgin staff owed $450 million, will vote on a deed of company arrangement (DOCA) to transfer ownership of the bankrupt company to the US private equity giant.
Around 4600 Virgin workers are stood down and receiving JobK…
Continue Reading
