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A passenger is seen at the Virgin Australia terminal at the Brisbane Domestic Airport. Virgin Australia has announced it is standing down around 8,000 of its 10,000 workers and will be cutting its domestic capacity by 90 per cent. (AAP Image/Darren England) NO ARCHIVING
Business

Virgin "increasingly likely" to run out of cash, no rescue in sight

Virgin Australia has been hit with more bad news after Standard & Poor’s warned that the likelihood of the company defaulting on its debt “appears increasingly likely over the next 12 months’’ and that it was likely to run out of cash.