After undergoing bankruptcy restructuring and delisting in 2020, Virgin Australia recently announced its re-listing on the Australian Securities Exchange (ASX) on June 24th, under the stock code VGN. After nearly five years, what changes has Virgin Australia undergone? As it re-embarks on its journey, how should its value and prospects be viewed? Virgin Australia Delisting Due to Debt Restructuring In April 2020, impacted by the COVID-19 pandemic, Virgin Australia plunged into massive losses and a cash flow crisis. Burdened by approximately AUD 5 billion in debt, the company ultimately announced it was entering voluntary administration, becoming the first major Australian airline to fall during the pandemic. Subsequently, its shares were suspended from trading on the ASX, and the company's