Virgin seeking $1.4bn bailout., page-9

So the Government has an ‘opportunity’ to convert the loan to equity.

So the OZ tax payer can own $6.5 billion of debt and negative equity of around $2 billion if VAH can’t repay the loan in 2-3 years. These numbers assume the losses won’t continue for the next 2-3 years. Heck, they’ve continued for nearly 20 years.

I hope the Government knows who will be managing tax payer funds in the event they do make the loan. Personally I wouldn’t loan 1 cent without an audit of everything....and back date it 10 years.