What “checks and balances” would have been in place for a business that is 65% owned by another (in this case Velocity by Virgin Aus) when a loan is requested. It seems counter productive to “use” (perhaps a harsher word than I want use) a trust set up to protect the FF program....but I understand the circular argument that without the airline the FF program is useless.
Curious really...as lost points with Ansett and not looking that flash with Virgin atm.