Anglican Diocese of Newcastle 'bank' to suffer $2.7m loss after Virgin Airlines investment, that promised sky-high returns, crashes amid pandemic

Donna Page
Updated April 14 2021 - 11:50pm, first published September 19 2020 - 5:30am
TIGHTENING THE BELT: Anglican Bishop of Newcastle Peter Stuart announced a major restructure of the diocese last month in an effort to save money after the church looks to lose $2.7 million in Virgin Airlines collapse.
TIGHTENING THE BELT: Anglican Bishop of Newcastle Peter Stuart announced a major restructure of the diocese last month in an effort to save money after the church looks to lose $2.7 million in Virgin Airlines collapse.

THE cash-strapped Anglican Diocese of Newcastle's financial position has gone from bad to worse after it poured $3 million into what has been described as "one of the worst investments ever" to appear on the Australian Stock Exchange (ASX).

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Donna Page

Donna Page

Investigative journalist at the Newcastle Herald

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