Virgin Australia has officially entered voluntary administration, the company announced to the ASX this morning.
Scheduled international and domestic flights are set to continue in order to transport essential workers, maintain freight corridors and return Australians to their homes.
In a statement the company said it had continued to seek support from federal and state governments, but that the required support had not been secured.
"Our intention is to undertake a process to restructure and re-finance the business and bring it out of administration as soon as possible," administrator Vaughan Strawbridge said.
Chief Executive Paul Scurrah said the decision was made to secure a future for Virgin on the other side of the COVID-19 crisis.
"Australia needs a second airline and we are determined to keep flying," he said.
"Virgin Australia will play a vital role in getting the Australian economy back on its feet after the COVID-19 pandemic by ensuring the country has access to competitive and high-quality air travel."
The story Virgin enters administration, some flights to continue first appeared on The Land.