Originally Posted by
wheels_down
It’s probably more the point, if they did not blow and waste so much cash in the last decade, which in return just blew out any cost base advantage they once had over the rival, they could have tomorrow, gone to a bank and asked for $2 billon and secure it against aircraft.
Not only are they $5b in debt, they have nothing left to secure cash against. They have exhausted every financial option available. Everything is maxed out basically.
Even pre Corona, how the heck they were going to finance the upcoming MAX order was anyone’s guess.
Let alone repay, what, $7b of debt? Post the virus.
How on earth do you get out of $7b of debt, from such a small revenue and poor profit history? Anyone?
Virgin was circling the drain well before Covid19, has the board been sitting on their hands for the last decade, if by some miracle they survive, maybe they should go back to the low cost plan, no airbridge, walk to plane with a Virgin brolly in the rain, no free meals or drinks, pay for it if you want it, no free baggage , pay for it by weight. ETC.