Virgin Australia administrator to hold first creditors’ meeting on April 30

SYDNEY (Reuters) – Virgin Australia Holdings Ltd’s administrators will hold the first meeting of creditors on April 30 and have retained Houlihan Lokey to advise them on recapitalizing the airline, their firm Deloitte said on its website.

Virgin on Tuesday entered voluntary administration in an attempt to restructure its crippling A$5 billion debt load as it struggles with a lack of demand due to the coronavirus pandemic.

More than 10 parties have already expressed interest in the recapitalizing the company, administrator Vaughan Strawbridge said on Tuesday.

(Reporting by Jamie Freed and Paulina Duran; Editing by Raju Gopalakrishnan)