Originally Posted by
Rashid Bacon
The fact they went to the government as a lender of last resort is an indication that fund raising in the market place was unsuccessful.
Absolutely correct. Unfortunately this is a perfect storm for aviation. VA has had over 10 years to get the structure of the airline right and start making a profit. They couldn’t do it, and if they couldn’t do it when the going was good how the hell can they do it now with the airline grinding to a halt? No planes = no fly = no incoming revenue = no airline. Mostly foreign owned, enough borrowed cash to last 3 months, basically no assets and no forward revenue. Sadly at this point in time there will not be a VA returning. There is simply no value in the airline which means no investor is willing to kick the tin. We are entering a Depression and there is no money to spend. SQ and ANZ were the only likely saviours and they are busy saving their own asses let alone investing in VA.
The sooner Scurrah starts communicating with his staff, the better. There is simply not enough info coming from the tower. Is he busy packing up his model planes and emptying the petty cash tin?