The Andrews government has rejected Queensland's call for "all governments" to help fund embattled airline Virgin Australia through the coronavirus crisis.

Australia's second largest carrier has been in a trading halt since Tuesday, has grounded almost its entire fleet and is drowning in close to $5 billion of debt.

Virgin is 90 per cent owned by Singapore Airlines, Etihad Airways, the Chinese conglomerates HNA and Nanshan, and Richard Branson's Virgin Group. Credit:Wolter Peeters

The Annastacia Palaszczuk government in Queensland has offered Virgin a partial lifeline of $200 million on the condition it restructured its debt, continued regional flights and kept its headquarters in Brisbane.

"If we're going to get through this pandemic with two national airlines ... then all governments need to come together to ensure that is the case," Queensland's State Development Minister Cameron Dick said.