VIRGIN Australia is seeking financial support from the federal government to survive the fallout from coronavirus pandemic.

The carrier, the second biggest after Qantas, wants a rescue package of up to $1.4 billion.

Virgin Australia, which has flights in and out of Mildura, told the share market it is seeking the funds from what it anticipates would be support for the wider industry.

It could involve the government becoming a part-owner.

Qantas has told the government it expects a $4.2 billion loan if Virgin Australia is bailed out, according to the Sydney Morning Herald.

The airline recently cut its workforce by 80 per cent and its capacity by 90 per cent.