Desperate bond investors went into panic mode as the airline fell victim to the pandemic. Thousands were left in financial strife, among them mum-and-dad self-managed super funds.
Going nowhere: Virgin Australia planes parked at Brisbane Airport in the midst of the pandemic in August. Getty
It was April 24 and a warm 28 degrees in Sydney – weather that in ordinary times conjured lazing at the beach or lunch outside during a long hot summer, before autumn rolled in.
In Hong Kong it was a moderate 21C, while Singapore hovered on 34C at the tail end of the dry season. But nothing else was normal, as executives from two feisty Asian hedge funds prepared for a crisis phone call hooked into Australia.
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Original URL: https://www.afr.com/companies/financial-services/the-bondholders-left-stranded-by-virgin-australia-s-collapse-20201214-p56n9s
