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Virgin Australia’s administrator will borrow $200 million to keep the airline flying at it sifts through potential suitors in preparation for a sale.
Chief executive Kevin Brown accuses the airline of not paying fees since January and says passenger numbers are 97 per cent down.
The prospect of Trans-Tasman flights restarting moved a step closer after it was confirmed New Zealand Prime Minister Jacinda Ardern will dial into Australia’s National Cabinet meeting on Tuesday.
Chemring Australia’s deal will create skilled manufacturing jobs, and benefit local businesses supplying raw materials, testing and transportation.
The New Zealand government is to underwrite cargo routes to the UK, Europe, the US and Hong Kong in a bid to kickstart imports and exports.
More than a fifth of workers from the Fishermans Bend manufacturing plant are set to lose their jobs as part of a global restructure.
