Cash balance $815 million, up from $476 million
Virgin Press release 2010, now you need to factor the loss expected 2011 into this figure.
Cash balance of $3.7 billion
Qantas press release after 2010 figures, with an expected profit this year.
Place this in perspective, Virgin is nowhere near 'Cash Rich'. They conducted a heavily discounted capital raising in 2009 as well as sale and leaseback of assets. After the expected 2010/2011 loss they have will have limited funding sources, relying heavily on cash at hand.
Make of it what you will but this is a gamble that Borghetti has had to make as the airline's future was certainly bleak.