Virgin notes (ASX: VAHHA) are trading at less than 50% with a market capitalisation of < $ 500 million. There is no capacity to generate enough income to trade out of this while COVID is around.
VAH investors are looking to shore up their own core companies and so far, have failed to come to the table, and it seems unlikely the Australian government will fund a commercial bail out.
Isn't it time to preserve the remaining cash for staff payouts rather than throw good money after bad?
There will be a better airline that will rise from this.