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Virgin Australia planes are lined up at departure gates at Sydney Airport in Sydney, Wednesday, April 22, 2020. Virgin Australia is seeking bankruptcy protection, entering voluntary administration after a debt crisis worsened by the coronavirus shutdown pushed it into insolvency. (AP Photo/Rick Rycroft)

AP Explains: What Virgin Australia's bankruptcy move means

Apr. 23, 2020 12:10 AM EDT

CANBERRA. Australia (AP) — Virgin Australia has become the world’s largest airline to seek bankruptcy protection in the weeks since the coronavirus shutdown created a debt crisis. A look at Australia’s second-largest airline’s predicament and what it means for other airlines: WHY IT...

In this April 7, 2020, photo, grounded Virgin Australia aircraft are parked at Brisbane Airport in Brisbane, Australia. Virgin Australia, the nation's second-largest airline, announced Tuesday, April 21, 2020, it had entered voluntary administration as it seeks to strengthen its finances amid a debt crisis. (Darren England/AAP Image via AP)

Virgin Australia airline seeks bankruptcy protection

Apr. 21, 2020 4:54 AM EDT

CANBERRA, Australia (AP) — Virgin Australia, the nation’s second-largest airline, announced Tuesday it had entered voluntary administration, seeking bankruptcy protection after a debt crisis worsened by the coronavirus shutdown pushed it into insolvency. Virgin said in a statement to the Australian...