Originally Posted by
Vindiesel
From The Australian today: "Mr Godfrey said the airline had lost its cost advantage over the Qantas Group and any private or public investment should be contingent on Virgin Australia chief executive Paul Scrurrah forcing through a massive restructure to make the carrier viable in the long term."
What (if any) steps is the VAH CEO taking to significantly lower the cost base long term? Have the unions been approached about wage reductions or, at the very least, significant wage freezes to help make it more viable over the next 5-10 years?
The bald one comes out from his nature reserve in Tasmania to speak!! BG got the push once the airline starting to really grow. Much too big for his limited abilities. Brett’s legacy is floating a lemon of an investment so that Richard, Brett, Sherrard and Brett’s other high school buddies would receive millions of dollars worth of shares. Pay dirt! And benefit they did. The share price went downhill from the time they floated though. What did you do Brett in the years after the airline floated, to keep investors happy and to grow the share price? Yep, nothing. From memory Richard’s take was around $960m, Sherrard bailed early with around $60m to $80m, Godfrey around the $40m and a few other ‘mates’ took around $5m to $7m. Give or take a few million here and there. Along came Il Deuce and the race to the bottom hit hyper speed. I wouldn’t put any thought into or pay attention to anything current of former executives or Board say.
Brett, go back to your eco lodge and comfortable lifestyle c/o the original Virgin Blue float. The days of dancing around the tarmac and waving goodbye to planes are long gone, and so are you. Or are you camping this long weekend on Makepoo’s Island, the Island bought exclusively (supposedly) for staff to use? Another Virgin deception.