The Virgin Australia Group (ASX:VAH) grounds international fleet

Company News

by Rachael Jones

The Virgin Australia Group (ASX:VAH) has today announced they will suspend all international flying for a period of two and a half months in response to the new travel restrictions announced by Government.

This will be from 30 March to 14 June 2020.

There will also be further cuts to domestic capacity in response.

Temporary grounding of the equivalent of 53 aircraft from the Group’s fleet.

They will work to bring Australians home and returning visitors back to their point of origin safely.

Wherever possible, we will aim to avoid redundancies by fast-tracking measures such as the use of accrued leave, leave without pay and redeployment.

Shares in The Virgin Australia Group (ASX:VAH) are trading 4.76 per cent higher at 7 cents.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.