Queensland government bids for Virgin Australia
The Queensland state government has thrown its hat in the ring as an interested bidder for Virgin Australia.
It appointed Queensland Investment Corporation as the bidding entity and could offer either a loan, guarantee or buy an equity stake.
Queensland wants to keep the airline in the state and protect jobs.
"My number one focus as treasurer is to retain and create jobs for Queenslanders, particularly as we move beyond the Covid19 crisis," said state treasurer Cameron Dick.
"We have been very clear. Two sustainable, national airlines are critical to Australia’s economy. We have an opportunity to retain not only head office and crew staff in Queensland, but also to grow jobs in the repairs, maintenance and overhaul sector and support both direct and indirect jobs in our tourism sector."
Virgin Australia went into voluntary administration on April 21.
According to administrators Deloitte there are more than a dozen interested bidders.
The administrators hope to conclude a restructuring or sale of the business by next month, although that is looking a tad optimistic.
"Virgin administrator Deloitte has set an ambitious timeframe and we look forward to delivering on this mandate for the Queensland Government," said CEO of Queensland Investment Corporation, Damien Frawley.
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