PPRuNe Forums - View Single Post - AFR - Virgin Administrators come under fire for doubtful forecasts
Old 23rd May 2020, 22:04
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didrechambers77
 
Join Date: May 2020
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Most CEO's bring their own people and clear the decks in the first 6 months, instead he had no one except Caz, Courtz and old Fiddly Fingers (more on the row 30 incident later).
They had their little pow-wow at the former Skase complex, Marina Mirage last year.... "Red Hot and relevant", they spruiked the 4 year road map ahead and how strong a position we're in and how the special sauce is back... again it was just hype. And so the COO was appointed, late night chats and a tap on the shoulder you have someone's first C-suite gig at an organisation that size and complexity, with other experience. Righto, that's recipe for success. The same person who contributed to the complexities now tasked to undo it all.... ha!

I don't think its Paul its more so the hype reel Dani's feeding him, besides she's just the contact book for Richard. Still making demands to stay at the Calile at every visit for $290 a night.

And so they pulled up the following morning for a training session with the Suns at 6am, after "pool time with paul'', few dusty, few knew they were on the way out and others knew they were on the way up. But where was the plan? What was it?

The plan was, there was no plan. Just slash and burn. That blacked out room in Alpha Ground with the hype reel on the outside, is empty. I'm sure the bidders are asking themselves, was this ever going to work with that volume of debt?
Who knows? But the 750 jobs never came close, it ended at 349. The second sweep was already underway after Keith screamed across the table "there won't be an airline in 12 months if you keep at this snail pace", that was Feb2020.

They knew they were in trouble, pre-covid and the H1 results spoke for themself. Tried to glaze COVID all over it, but it didn't affect Aus until late Jan/Feb.
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