Originally Posted by
Overspeed1
When a company enters administration, the board looses control of the airline and the executive are effectively under control of the administrator to run the day to day ops. Usually, every director including the chairman and the majority of the executive loose their jobs. It’s a last resort for the board for this reason. No one wants to loose their job. I’m sure we can all relate to that at the moment. Virgin are an exception because Scurrah is widely seen as a good ceo who inherited a company in need of a turnaround who got unlikely with the timing, so he’s probably going to be around to run the recovery.
Can anyone really imagine AJ and rest of them really handing over control of the company that had made them all insanely rich unless it’s an absolute last resort?
Yes. To suggest QF are going to place themselves, voluntarily into admistration so they can rewrite a few contracts is so far wide of the mark, its almost laughable. Seems more like wishful thinking from the usual suspects.