May 1, 2020

Virgin Australia: First creditors meeting update

TWU National Secretary Michael Kaine, Virgin delegates and the TWU legal team joined the first meeting of creditors, the next step in the Voluntary Administration process.

Congratulations to all Virgin workers across the country in allocating Michael Kaine Transport Workers’ Union National Secretary as your proxy. Because of the great work done by members and delegates, your voice was not only the strongest union voice, but importantly it was one of the strongest and largest voices in the room. This puts you all in the strongest position to navigate through this process. 

Key Updates from the First Creditors Meeting: 

It was agreed that Deloitte will remain the administrator. This was supported by the TWU. 

Administrators Deloitte stated that there will be no redundancies, no closures and no changes or variations to your EBAs at Virgin. Workers will also continue to receive JobKeeper Payments throughout this process.

The TWU along with the other unions and key creditors are now on the Committee of Inspection, which will ultimately get to decide on the plan for Virgin.

A number of “high quality” parties have approached the administrators about the company. Administrators said the level of interest was down to the “exceptional team” that Virgin has in its workforce. 

Next steps

We still need to put pressure on the Federal Government to get involved in the plan for the aviation industry and to take a stake in Virgin. Whilst the level of interest is very encouraging, we want to ensure the Government also invests in Virgin to ensure long term stability and job security. This is so the airline can ensure the best outcome for those who matter most: Virgin workers and the travelling public.

To ensure we are representing your voice at the table, fill out the survey to put your views forward on Virgin’s future:

We will stay in regular contact to update you on more developments and likely timeframes. If you have any concerns or questions contact your delegate or official.


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