Virgin Airlines may survive. Voluntary administration allows administrators to restructure. If they settle Virgin’s massive debts with lenders at a heavy discount, the airline becomes more attractive to buyers.
But it is not a done deal.
Today is not a good day to buy an airline. Nobody can say for certain when travel restrictions will be eased. It is perhaps possible business and public servants, now they know how, will continue to meet by videoconference rather than flying around the country.