Originally Posted by
Led Zeppelin
I can't see any way that Scurrah will be part of a new operation, whoever picks up the pieces. They will want their own people as unpleasant as that may be, particularly if Bain gets hold of it.
The BGH-AustralianSuper-Temasek crowd are likely the most open to retaining Scurrah and almost most likely to buy into the Virgin Mk.II Qantas Mini-Me business model of full service domestic plus international plus LCC (aka 'The Delusion'). I can't see how they'll get the numbers to work on that model though.
Someone mentioned the debtors earlier. Here it is instructive that the unions, acting as a block, will be able to vote down any proposed Deed of Company Arrangement by virtue of their representation of the employees. Even though the employee debt is a pittance in the grand scheme of things each of the 9,000-odd employees counts as a creditor for voting purposes and votes are carried or lost on value
and number. We'll have to see what carries the day - pragmatism or principle.