PPRuNe Forums - View Single Post - "Virgin Australia Mk II could launch in as little as three months"
Old 23rd Apr 2020, 22:32
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Sunfish
 
Join Date: Aug 2004
Location: moon
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Three months might be just possible, but it would require all the creditors to agree. That is probably not easy to achieve.

The first thing needed is warts and all management accounts, which Deloitte will produce soon. That will tell you if the patient is dead or alive and how much time you might have to do a deal. If the company is already insolvent, it’s too late.

After that you need to see if it’s possible to keep the airline as a going concern and what you would need from creditors and investors to make your plan happen.

Then you get to try and negotiate with all those creditors and potential investors to make it happen. That takes a genius to do. Potentially the only lever I think the administrator usually has is a negative one. - She can threaten to go into bankruptcy and hold a fire sale in which case most except perhaps secured creditors will lose.

This stuff is not for the faint hearted. Billions can be made or lost in this process.

Best advice I can think of is to try for a new job or change careers or start your own business. Don’t wait around paralyzed each day hoping for a miracle. It may happen, it may not.
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