Originally Posted by
Flightrider
If you can't be bothered to understand it and keep posting rubbish, then there's truly no point in trying to explain. It's nothing to do with tax or liability.
And Skip - BA did work on something similar - which is why the A318 was on the British Airways (BA) - also known as "BABA" - AOC for a while. For whatever reason, the BA bond issue did not work out and the structure was folded back into BA, whereas the bond issue did work out for Virgin with VAIL.
Btw I was me that pointed out the Virgin International operation upstream!
And you have only posted a link to a news item and a string of uninformative no it isn’t comments, literally no explanations given by you so far !
You could explain for the benefit of others mate; however personally couldn’t give a crap about the minutiae of these financial vehicles to be honest .
Mortgaging slots for finance as the carrier was strapped for cash (also noted in my previous post!)
For Joe Public they have little to no visibility !
They are exoteric methods of moving money and hiding ownership
Virgin International ( UK) posted a pathetic £55k ( I presume fees!) for 2021 on turnover of just over £100k
As the slots are mortgaged one also presumes Virgin Group has a massive internal invoicing system moving funds across differing businesses ( of couse it does !)
So you can’t tell me there isn’t tax and liability avoidance going on !
Yes bond holders are milking the carrier in dividends’ a carrier that rarely records a profit in its own reports .
However I’ll leave it there as the prime reason for the thread was generally in relation to the ten 333s and a rather general spotter/enthusiast generated post