Virgin Australia boss says $1.4 billion taxpayer rescue loan now critical for airline's survival

The stakes are getting higher for Virgin Australia as the airline pleads for a $1.4 billion loan from the federal government. 

Virgin's chief executive Paul Scurrah has not set a deadline for assistance but is betting the Prime Minister won't want to hand Qantas a monopoly if Virgin collapses. 

Mr Scurrah has also tapped Virgin's major investors including Singapore Airlines, Etihad and the Chinese group HNA but says they face the same global predicament. 

Paul Scurrah spoke with ABC's Peter Ryan.