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Virgin Atlantic files for bankruptcy in US, warns it is running out of cash as it seeks rescue deal approval – Sydney Morning Herald

Richard Branson’s Virgin Atlantic filed for Chapter 15 bankruptcy protection in the US and told a London court that it could fold next month unless it secures approval for a £1.2 billion rescue package.

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Earlier, it told a London court that it will run out of cash next month unless it secures approval for a £1.2 billion ($2.2 billion) rescue package announced in July.
Without the funds, available cash will drop to about 49 million pounds by late September, below the 75 million pounds specified in bondholder contracts. That would require the sale of Heathrow airport slots against which the bonds are secured, forcing the carrier to fold.
Virgin Atlantic said it obtained an order from the court t…

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Victoria’s coronavirus cases drop dramatically as seven deaths reported – Yahoo News Australia

The state confirmed 21 new infections and seven deaths on Saturday –significantly lower than those seen on Friday.

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Victoria has recorded its lowest number of new coronavirus cases since June.
The state confirmed 21 new infections and seven deaths on Saturday significantly lower than those seen on Friday, which saw numbers jump to 45 and five deaths recorded.
The news come as Melbourne tackles a suburban cluster and braces for anti-lockdown protests.
Saturday’s figures take the state’s coronavirus death toll to 757 and the national count to 844.
Metropolitan Melbourne has a 14-day new case average of 39.3…

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Super for first-home buyers: a safe future for young Australians or just a boost for property prices? – The Guardian

A plan to help renters get ahead on the property ladder could jeopardise their retirement and place a burden on taxpayers, experts say

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Like any major crisis that permeates the fabric of all our lives, the coronavirus pandemic has thrown up demands for a rethink of things we have taken for granted for decades. One such call is that by a group of Liberal MPs to allow young Australians to access their superannuation pot in order to help them buy their first home.
They enter the debating arena at their peril given that the system of mandatory superannuation is one of the sacred cows of Australian public policy. Diverting those fun…

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Climate campaigners condemn ‘joy flights’ for travellers who miss flying – The Guardian

Rise in scenic round-trips by air in Australia and Asia is ‘insanity,’ say environmentalists

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Environmental campaigners have condemned the rise of scenic joy flights aimed at passengers missing the excitement of travel.
Tickets for a seven-hour round trip from Sydney with Qantas sold out within 10 minutes, making it one of the airlines fastest selling flights ever. Seat prices on the 10 October flight range from A$787 (£607) economy to $3,787 for first class.
Using 787 Dreamliner aircraft usually employed for long-haul international flights, Qantas Great Southern Land flight will fly a…

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Super for first-home buyers: a safe future for young Australians or just a boost for property prices? – The Guardian
Adelaide Online News
Climate campaigners condemn ‘joy flights’ for travellers who miss flying – The Guardian
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