Virgin Australia may have traded while insolvent; Bain offers $3.5b in buyout, administrator Deloitte reveals – ABC News

Virgin Australia may have been trading while insolvent in the early days of the coronavirus pandemic’s impact on airline travel, according to a report by Virgin’s administrator Deloitte. “Our preliminary analysis indicates the group was insolvent from 22 March 2020 and possibly as early as 18 March 2020,” Deloitte said in report to creditors ahead…

Swissport reaches agreement ‘in principle’ for restructuring – Airport Technology

Swissport also received a binding commitment from an ad hoc group of senior secured creditors (AHG) for an interim financing of 300m. Credit: Swissport International AG. Sign up here for GlobalData’s free bi-weekly Covid-19 report on the latest information your industry needs to know. Swissport, a company which offers airport ground and cargo handling services,…

Macau recovery yet to take shape as liquidity, China regulatory controls impact VIP sector – Inside Asian Gaming

Macaus leading junket operators have seen no increase in volume since border restrictions between Macau and Guangdong Province, according to industry analysts, with tightening controls on outbound capital flow from China and liquidity concerns heavily impacting the VIP sector. Authorities reinstated the Individual Visit Scheme (IVS) for residents of Zhuhai to visit Macau on 12…

No refunds: STA Travel collapses into administration – SmartCompany.com.au

Administrators for collapsed travel chain STA Travel say they will not offer refunds to customers who cancelled their holidays because of the COVID-19 pandemic. STA Travel appointed administrators from Deloitte on Saturday after weeks of refund claims from angry customers forced to ditch their travel plans amid domestic and international border closures. The chain, which…