Administrators of the collapsed travel company have confirmed the inevitable, with the likelihood of a return to creditors not looking all that promising.

Customers and creditors of the collapsed STA Travel have been filled in on the company’s dire financial state by its locally-appointed administrators.

Vaughan Strawbridge and his team at Deloitte have updated Virgin’s creditors with some key info ahead of next month’s meeting. Read all the juicy bits from the circular right here.

With Virgin Australia’s administrators holding the first meeting of creditors today, more suitors for the beleaguered airline have come out of the woodwork.

There have been quite a few interesting developments in the administration process of Virgin Australia, as the airline’s future hangs in the balance.

The directors of Excite Holidays are set to take back control of most of the companies tied up with the wholesaler, following a vote by creditors yesterday.

Further details on the wholesaler’s collapse have been revealed, while affected agents finally get some answers to their questions.