Virgin Australia was a totally foreign owned Airline.
The group owners - Singapore Airlines, Etihad, HNA and Virgin Group. (Branson) All refused cash injections to help the airline ride out the slow down.
Singapore, Etihad and HNA are all government owned corporations. Each company has deep pockets. It would be crazy for the Australian Government to give money to foreign government owned airline just to save jobs local jobs.
As far as I am aware Virgin Aus is now in voluntary administration and the remains are being administered by Deloitte until a new buyer or buyers can be found.
On a happy note, the afore mentioned foreign owners will not receive any money for sale of the airline or its assets.