ABC News overview article 30/04/20:
https://www.abc.net.au/news/2020-04-...ation/12198130
Extract here:
"On April 23, Deloitte listed the carrier's debts as including:
- Twenty-six secured lenders who are owed about $2.3 billion
- Unsecured bondholders owed about $2 billion
- Fifty aircraft lessors owed about $1.9 billion
- More than 9,000 employees owed $451 million
- More than 1,000 trade creditors owed about $167 million
- Eighty-one landlords owed about $71 million
Virgin has about 144 aircraft and about half of them are under lease. These are mostly 737-800s, but also includes their A330s and ATR72s.
Deloitte has asked lessors for waivers over lease payments while it works through the voluntary administration process."
It would 'seem' (with what is reported via news outlets) that, the whole show (circa $7B) would need to be swung-off what value can be leveraged out of 70 odd B738's and the 'residual' value of the 'Business/Network'........???
As far as, the options that shall be presented at the 2nd Creditors Mtg of the 'process'- e.g. Liquidation vrs x/cents in the dollar..........
Rgds
S28- BE