Virgin Australia Holdings says it has secured a new, twelve-month AUD425 million (USD322.7 million) loan facility from its four major shareholders: Air New Zealand (NZ, Auckland International), Etihad Airways (EY, Abu Dhabi International), Singapore Airlines (SQ, Singapore Changi), and Virgin Group.
"This is an initial step in strengthening Virgin Australia’s liquidity while the Company commences a review of its capital structure," it said. "The review will include an assessment of the appropriate mix of debt and equity capital and operational initiatives to enhance Virgin Australia’s cash flow and profitability."
Each shareholder has contributed funds based on their relevant interest.
