PPRuNe Forums - View Single Post - Private equity take-over for Virgin Australia?
Old 17th Apr 2020, 07:23
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crosscutter
 
Join Date: Jan 2006
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Anyone who’s been following the SAA situation will recognise the impending restructure of Virgin is exactly what financial analysts in SA say should have happened to SAA years ago. More loans likely entrench existing deficiencies as access to the needed restructuring facilities are unavailable. The advantage is minimal staff losses but it’s kicking the can down the road. There will be no shortage of reinvestment for the ‘new Virgin’, which I guess is scant comfort for employees. Their emotions should be directed at JB firstly, and the board next, who shirk away from all responsibility other than compliance. I feel for all employees of Virgin. It makes me angry. The ivory tower cultivates and spreads the cancer but gets to walk away with the magic pill whilst blaming the hostile environment.
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