Asia virus latest: Virgin Australia collapses; oil rebounds

Cash-strapped Virgin Australia collapsed Tuesday, making it the largest carrier to buckle under the strain of the coronavirus pandemic, which has ravaged the global airline industry. In an announcement to the Australian Stock Exchange, Virgin said it planned to keep operating flights despite handing over the keys to administrators. Chief executive Carrie Lam said social distancing measures and some business restrictions would continue for another two weeks until at least May 7.

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