Virgin Australia administrators halt bondholder payments, appoint Morgan Stanley for sale

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SYDNEY (Reuters) – Virgin Australia Holdings Ltd’s (VAH.AX) administrators have halted payments to bondholders and appointed Morgan Stanley to help sell the airline within four months, said a participant in a meeting of creditors owed nearly A$7 billion ($4.58 billion).

FILE PHOTO: A Virgin Australia plane is seen at Kingsford Smith International Airport in Sydney, Australia, March 21, 2020. REUTERS/Loren Elliott

Administrators from Deloitte Australia were appointed this month to restructure and sell Virgin, making it the Asia-Pacific airline industry’s biggest victim of the coronavirus crisis.

The administrators this week issued an information memorandum and opened a data

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