Originally Posted by
xray one
Read the whole piece - Virgin Atlantic and their employees. In my time at VA I have paid £700,000 in tax. We have over 1,000 pilots. Add to that another 9,000 Cabin Crew and ground staff.
I'd just like to point out that nobody is attacking you nor the other hard working employees personally. Your income tax is paid by your hard work as an individual, the same with the rest of the staff. This is what covers your furlough pay and any other benefits that you as an individual deserve.
However it's not you who is asking for the loan, it's Virgin Atlantic as a company. We're looking at corporation tax that they (as a company) have contributed, which is minimal, as it's offshored as much as possible.
While I definitely don't want to see anybody out of a job, I just don't think the UK taxpayer should be giving Virgin Group and Delta Air Lines a bailout (nor a loan). If the company does go bankrupt down the line, the money is gone. Judging by the fact the airline has lost money consistently without the coronavirus crisis in play shows how likely the loan is to be paid back. If a commercial bank doesn't see this as a worthwhile opportunity, I don't see why the taxpayer should be the one to take the risks. I'm completely against privatizing profits, and socializing losses (or at least the risk aspect). If this was such a winning investment surely SRB would liquidate some of his assets, to invest the money, to recoup the profits from such a wise decision later?
Once again, this isn't an attack on you, nor any of the frontline employees. You do your best day in and day out and can't be held accountable for corporate decisions, and I don't like poor management hiding behind frontline staff as their defense barrier.
I do wish you and the rest of the Virgin Atlantic staff all the best, although this situation is absolutely nothing of your doing.