Originally Posted by
B772
Scurrah appears to be in panic mode. History will show he did little to restructure since he was appointed over 12 months ago. As little as 3 weeks ago he did not understand the seriousness of the situation. In one of my posts I referred to an announcement he made as being a weak effort. Now he appears to be shoring up his position as the collapse of VA will not look good on his C.V for future employment. A little like Gary Toomey. A rooster one day, feather duster the next.
If Scurrah thinks he can get a letter of comfort or a statement of confidence from the Government he is dreaming. Even HostPlus Superannuation will not get anything from Canberra. As I have indicated previously it will be a slow uncomfortable wind down unless the current owners throw more money in the bottomless pit. I believe they will walk away from VA.
Tell that to a number of "SQ fanboys" on Executive Traveller (aka AusBT) that.. a number of them are still holding onto the ol 'SQ will rescue VA !!111!" sthick, despite the numerous 'SQ will rescue VA' articles over the past five years fizzling out as "fake news".
To be fair to those fanboys, SIA also did have the opportunities to 'buy out' VA in the past, notably during the NZ exit, SIA simply chose not to.
I suspect that would've paid off for SIA in the long term rather than mindlessly buy a long-term basketcase riddled with billions in debt.