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Old 14th Nov 2014, 09:18
  #1069 (permalink)  
Kapitanleutnant
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Well…

According to the two contracts I have read, the "no pay" in the beginning is for a maximum of 28 days or completion of ground courses whichever occurs first. So… worst case you're not paid for "only" 28 days. I still believe someone is making BIG money from this arrangement though.

Also having been in the airlines for as long as I have (27 plus years), it has always amazed me how long an airline can last when it's considered "financially troubled". I recall Pan Am, TWA and Eastern all in the US, lasting well over a decade with having absolutely no net profit whatsoever, yet continuing to operate somehow for years and years.

The fact that VNA is The National Airline, I still believe that the government there will not let them falter. If it's local VN banks that invest, so be it. It is probably just a round about way for making the necessary infusion of cash to maintain the status quo of VNA so the government can appear to have made the artificial IPO as well as saving face that they indeed were able to find "investors" in their National Airline.

Just my two cents

K