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engine out
28th Aug 2014, 02:42
Ought to run one for Virgin to keep all bases covered. Closest to the mark gets to run Tiger?

$300 million loss, but $200 million accounted to Tiger. Not to fear though,
expecting another $200 million capital injection anyday now.

Seriously though, it will be interesting to see their domestic result v Qantas domestic results after the capacity war.

Capt Chambo
28th Aug 2014, 03:43
VA Operating loss of $220 million before tax. The remaining 40% of Tiger that they don't already own will be bought, and everything is fine because they will be in profit next year!

But what do I know!:O

porch monkey
28th Aug 2014, 04:50
No profit before 2016. And if it doesn't eventuate by then, get used to working for Singaporeans and Hogan.

wheels_down
28th Aug 2014, 08:35
They lost 80m in the first half, usually with a stronger second half and a loss making Tiger should be around 200m~. Maybe slightly higher.

And if it doesn't eventuate by then, get used to working for Singaporeans and Hogan
Now they all have board presence Id expect some heavier input over the next few years.

VH-ABC
28th Aug 2014, 22:38
Net loss of $355.6 million.

SHVC
28th Aug 2014, 22:44
How much did tigerair contribute to that?

OneDotLow
28th Aug 2014, 22:49
Underlying loss $211.7M

Tigerair accounting for $46.1M of that. Expectation of profitability in 2017.

35% of Velocity FF sold to investment firm.

RAD_ALT_ALIVE
28th Aug 2014, 22:50
Are these still guesses...? No media release as yet.

OneDotLow
28th Aug 2014, 22:53
They are my crystal (clear) ball projections.

Nah... They are on the ASX site.


Now Alan and John, are we don't with the red pen for a while??? :mad:

SHVC
28th Aug 2014, 22:53
These are accurate, just received the group email..

ampclamp
28th Aug 2014, 23:05
261 million loss.

TBM-Legend
28th Aug 2014, 23:05
As a percentage of the business turnover VA is considerably worse than QF operating loss not counting write-downs which are paper losses..

Comoman
28th Aug 2014, 23:51
Also sold 35% of Velocity!

Archer2002
29th Aug 2014, 00:42
As a non airline person apart from that of consumer, I have to note the difference in the way JB presents and his positive manner and the appearances of AJ at the Qantas presentation.

73to91
29th Aug 2014, 00:53
2 days, 2 announcements.

One CEO came across as strong, knowledge of his industry, spoke with confidence, articulate, used 'we' the other CEO, well...

Not a slash and burn airline:D

Servo
29th Aug 2014, 00:57
Yeah he is the messiah and all round great bloke that loves his staff, has them fully engaged and has their interests at heart, god bless him :suspect:

SandyPalms
29th Aug 2014, 01:00
Not a slash and burn airline

Not disagreeing, but this article would suggest that there will be "slashing", maybe not burning though.


Cookies must be enabled. | The Australian (http://www.theaustralian.com.au/business/aviation/virgin-australia-to-cut-costs-as-loss-trebles-to-356-million/story-e6frg95x-1227040926825)

porch monkey
29th Aug 2014, 01:52
He's not the messiah, there will be slashing and burning. But I'd still rather have Borghetti fronting the business at this stage. As far as the slashing goes, that's why our resident American was employed.........:eek::sad:

Kemerton
29th Aug 2014, 02:11
Anyone have link to speech ?

Ken Borough
29th Aug 2014, 02:50
Not a slash and burn airline

That's right. He sure knows how to spend but does he know how to rein in costs? There is plenty of evidence of the former attribute at QF and VA but so far, not a shred of evidence of his capacity to control and reduce costs. VA are still in spending mode, to wit, Business Class on the Tasman.

c100driver
29th Aug 2014, 04:35
It appears that he is doing just that with consolidation of the VA and VB AOC and moving the management to a single office in Aussie.

Servo
29th Aug 2014, 05:13
Sorry should have ended my post with /sarcasm :hmm:

How about they start slash and burning execo pay, some them them are certainly not worth the money. Including the recent addition from overseas............

Cactusjack
29th Aug 2014, 07:38
Still lots of savings to be had by restructuring the airport operations departments. They are still fat in comparison to JQ and TT. Still a number of mid tier managers who have been there from almost the beginning of the company that need to be shown the door.

piston broke again
2nd Sep 2014, 03:39
Anyone able to post a link to the press conference for the VAH results? I've seen the AFR interview but that's about it. Cheers.