Originally Posted by
Berealgetreal
You must be pretty confident the situation will resolve pretty shortly. What if it drags out and starts eating away at the QF reserves.
The government had all the information to close the borders and fumbled there way to where we are today.
You’re happy with the actions of the government?
Yes, the Government actions are a contributory factor. The house in my analogy is also a contributor factor, after all, it killed the skydiver. Whats plainly obvious however, is that if the skydiver didn't hit the house, he would have hit something else just as deadly soon enough.
I've listened for more than a decade about Virgins 'plans' to turn it all around. The reality is no investor would look at their situation and assign this claim any credibility beyond all those before it, which is exactly why they've been entirely incapable of securing financing and have had to approach Government.
Now, as you say, this may drag on (hope to hell it doesn't), and it may eat into QF's ability to remain solvent. The difference however, is that COVID would be the cause, not a contributory factor. QF is profitable, and would have continued to exist indefinitely were it not for this crisis. Virgin on the other hand, well, there aren't any "QF pilots worried about employment in 2021" threads that were created long before this crisis now are there?
Now there is a temptation to take what I've written and believe it an attack on the people of Virgin, or a desire to see it go. Thats the last thing I want, I like all of us have many friends there and know the devastation a collapse will bring. However this doesn't mean I accept the apportioning of blame where it doesn't belong.
If Virgin folds, the primary cause is their own management.