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Chinese airlines consider to buy embattled Virgin Australia

04/20/2020| 6:12:48 PM|

China Southern Airlines, China East Airlines and Air China are all in discussions about purchasing the carrier in a last-minute takeover.

Chinese airlines are considering buying embattled Virgin Australia after the Morrison government refused to bail out the struggling airline.  

China Southern Airlines, China East Airlines and Air China are all in discussions about purchasing the carrier in a last-minute takeover in a bid to stop its 'catastrophic' collapse.  

Sources told the Courier Mail that the Chinese government-owned airlines were yet to make a formal offer.    

Virgin Australia wanted the Federal Government to hand over $1.4billion to save them from collapse but the money has not been forthcoming.

A joint approach from two Chinese carriers could see the foreign-owned Virgin Australia Group prevented from falling into voluntary administration.

The move would likely require approval from the Foreign Investment Review Board before a solution could be reached. 

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TAGS: Virgin Australia | China Southern Airlines | China East Airlines | Air China
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