I can see some problems looming:
1) Deloittes may have disqualified themselves from the role of administrator.
2) Some unsecured 'junk' bond holders may make it difficult for the administrators who ever they may be and UBS with the possibility of legal action.
3) I was surprised to see Scurrah conduct the recent press conference with Strawbridge. It should have been the other way around.
4) I am surprised at some of the statements being made by Scurrah and Strawbridge, even after allowing for the statements being made in Queensland.
5) I will be surprised if a deed of company arrangement can be offered to the VA directors by the administrator.
6) The employees are behind the secured creditors and the lenders who hold mortgages over aircraft.
7) On 01/07/2019 Moody's reported the airline had loans of $3B against the fleet and owed $2.6B on aircraft operating leases.
8) If BGH and partner(s) were to make an acceptable offer to the administrator the airline base will be in Melbourne sans Scurrah who is seen as being a slow mover by his lack of action. The Virgin name will be consigned to the history books. .
9) Interest from Apollo Global and Oaktree Capital most likely would see Virgin broken up by asset stripping.
10) What happens with VA will be decided by 30/06/2020 and influenced by the number of carriers who go broke each day between and late May 2020.
Ps. Forget about Branson being a white knight for VA. There is a possibility Virgin Atlantic may fall over if Delta decide to walk away from Virgin Atlantic to save themselves. Similar to what Air New Zealand did with Ansett.
Last edited by B772; 23rd Apr 2020 at 09:38.