Valid points all over here. Maybe another way to look at is not how they got to where they are but what it will look like when and if they go under when it seems 1.4 Billion might be enough to get to the other side. Keeping in mind, Qantas will have their hand out too shortly.
if Virgin cease to exist we lose a large force multiplier for the economy when the wheels start to turn. Half empty terminals, in excess of 10,000 people who used to be highly taxed now on the dole, Swissport and Aerocare gone, half the income for ASA gone and a monopoly player who can set fees at what ever level they choose for pax and freight for the foreseeable future. It will be a foreign entity if a 2nd player comes in and it won’t be for a long time...one of the few sure things we can predict I think and why would they bother anyway to come up against a Government backed monopoly mostly l Australian owned entity. This is why I bought Qantas shares at 2.10 because even though I don’t want to see it, I’ve put my money on it.
I’d like to see the current shareholders take a hair cut, the board get removed for years of poor oversight and an Australian entity step in with a near clean sheet but I haven’t seen many Unicorns recently.