Originally Posted by
The Bullwinkle
Absolute bull****!!! If it wasn't for COVID-19, Virgin would not be going bust!
True, but if they didn’t screw up the last decade, they wouldn’t be begging for cash, bringing in debt corporates, crying administration.
Had they stuck to their profitable and debt free previous roots, of Virgin Blue, and went down the Alaska of JetBlue type of model, without gutting the joint to the tune of billions, they might have a few billion bucks on the balance sheet, profitable, and little debt. They could have gone to lenders tomorrow and secured cash against their aircraft. They could have secured billions on finance, if they were in a better position. They can’t do that today because they already did that, to fund a airfare war.