I'm not wanting to be negative, but there are lots of moving point to this.
Virgin Blue was originally a very profitable airline and then ventured into various markets and with very much a mixed fleet whilst making lease payments for unwanted aircraft.
On the surface I support
Virgin Australia, but if the Australia Government is going to loan/bailout a company it ulitmately should be protecting Australian companies / supplies / markets and Australians themselves.
I don't support the Australian Governement to provide funding for a company to simply make aircraft lease payments to overseas private companies for grounded aircraft which are likely to become surplus. I don't support the Australian Government to provide licensing costs to a prviate entity (Yes I understand Virgin Group is currently not requiring its license fees).
What I do support is Australian Government is ensuring we have fair competition which I believe would be more along the times of supporting the ongoing operations of
Virgin Australia should it go into Administration as no doubt there will be a buyer allowing it to "come out the other side". This approach means the company can start a fresh without its current unsecured debts, unneeded leased aircraft returned to lessors, maintaining the right fit of aircraft, employees etc.
To be clear in a government supported administration approach, the airline would not be grounded, the airline would be reformed likely still with the current CEO, using the same remaining aircraft on the same Airline Operating Certificate.
To add, supporting
Virgin Australia with government funds also means the same has to be applied in other industeries which would include the likes of Foxtel, AFL, NRL, RU to name a very small number of others.
EDIT: Just to add, there needs to be some thought about how everything looks "come the other side". Employees working from home is highlightling some of the benefits, yes video coferencing works, all these tech tools work. So why do comapanies need these massive offices .. More hot desking and probably working in the office on a rotation system. Do people really need to travel (via air etc) for work meetings etc. Take away 25% business travel where does that even leave QANTAS? Plus, expect high unemployment so lack of lesiure travel and I'm sure people will want money in the bank.