Virgin Australia Half Year Results and announcements
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Virgin Australia Half Year Results and announcements
Virgin Australia's half year results have just been released on the ASX. Great results by a great team of employees. 
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Devastatingly great. Beat Qantas in half yearly NPAT. Even after FFPs. Look at the proposed restructure which seems to be aimed at making room for a big new investment in domestic by Etihad.
Virgin Australia to split airline to fit in Etihad stake | Plane Talking
Virgin Australia to split airline to fit in Etihad stake | Plane Talking
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Credit where due. Godfrey also beat Qantas in the last year he was in the job if looked at the underlying profits before tax measures for the full year even after combining Deathstar and Qantas, which was bloody amazing, and a big embarrassment. But still with some shares bought at just under 20 cents, Borghetti's a top bloke.
Anyhow that just me being greedy. I'm also pleased for family connections that Virgin is looking good, and hoping it brings Qantas to its senses.
Anyhow that just me being greedy. I'm also pleased for family connections that Virgin is looking good, and hoping it brings Qantas to its senses.
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So VBA plans to split the effective ownership of its domestic and international operations to remove the 49% foreign ownership cap on VAH.
Obviously the market thinks it's a good move and suspect Qantas would try something similar if it thought it could get the support necessary to have the Qantas Sale Act amended.
Obviously the market thinks it's a good move and suspect Qantas would try something similar if it thought it could get the support necessary to have the Qantas Sale Act amended.
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Just fyi They are no longer VBA but VAH (Virgin Australia Holdings Ltd.)
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Employees are free to leave one firm to go over to the other if things are so dire at one place and so great at the other. Oh wait - forgot about a little thing called seniority!
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However, ask me if I would contribute to a scheme that's outcome was :
A competent CEO
An accountable Board
A return to a proven concept
then ... sign me up Scotty!! [/QUOTE]
The board is accountable to the shareholders who seem to be pleased with things thus far. Talk to the business community of what they think of AJ - and you'll get your answer.
A competent CEO
An accountable Board
A return to a proven concept
then ... sign me up Scotty!! [/QUOTE]
The board is accountable to the shareholders who seem to be pleased with things thus far. Talk to the business community of what they think of AJ - and you'll get your answer.
junk!!!
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Air NZ mulls Virgin strategy
5:30 AM Monday Feb 27, 2012
Air New Zealand chief executive Rob Fyfe.
Shareholder Air New Zealand says it is considering its options in light of Virgin Australia's proposed spin-off of its international operations.
Sir Richard Branson's Virgin Group in the UK holds 26 per cent of Virgin Australia and Air NZ has a 19.99 per cent stake.
Virgin Australia last week proposed splitting its international business into a separate, unlisted company, which could free up the domestic arm for further foreign ownership.
Australian flag carriers that operate international services cannot be more than 49 per cent foreign owned.
Air New Zealand chief executive Rob Fyfe said the airline had previously considered the implications of a Virgin Australia international spin-off, when
asked about Virgin's move at last Friday's first-half results presentation in Auckland.
Fyfe said Air NZ was yet to formulate a preferred course of action or strategy.
"We are obviously evaluating the opportunities and scenarios that could unfold as a result of that announcement," Fyfe said.
"We had certainly evaluated in our scenario planning this possibility. We've been doing that for some time."
The Virgin move also raised the possibility of a cashed-up overseas airline such as Abu Dhabi-based Etihad Airways climbing on to the share register.
Virgin and Air NZ have formed a partnership on flights between Australia and New Zealand, with the alliance commencing July 2011.
Fyfe said the benefits from the alliance had so far exceeded expectations.
"Our transtasman position is as strong as it has ever been and as sustainable as it has ever been"' he said.
Shares in NZX-listed Air New Zealand, which reported a 61 per cent decline in first-half net profit, fell 3c to close at 86c on Friday.
5:30 AM Monday Feb 27, 2012
Air New Zealand chief executive Rob Fyfe.
Shareholder Air New Zealand says it is considering its options in light of Virgin Australia's proposed spin-off of its international operations.
Sir Richard Branson's Virgin Group in the UK holds 26 per cent of Virgin Australia and Air NZ has a 19.99 per cent stake.
Virgin Australia last week proposed splitting its international business into a separate, unlisted company, which could free up the domestic arm for further foreign ownership.
Australian flag carriers that operate international services cannot be more than 49 per cent foreign owned.
Air New Zealand chief executive Rob Fyfe said the airline had previously considered the implications of a Virgin Australia international spin-off, when
asked about Virgin's move at last Friday's first-half results presentation in Auckland.
Fyfe said Air NZ was yet to formulate a preferred course of action or strategy.
"We are obviously evaluating the opportunities and scenarios that could unfold as a result of that announcement," Fyfe said.
"We had certainly evaluated in our scenario planning this possibility. We've been doing that for some time."
The Virgin move also raised the possibility of a cashed-up overseas airline such as Abu Dhabi-based Etihad Airways climbing on to the share register.
Virgin and Air NZ have formed a partnership on flights between Australia and New Zealand, with the alliance commencing July 2011.
Fyfe said the benefits from the alliance had so far exceeded expectations.
"Our transtasman position is as strong as it has ever been and as sustainable as it has ever been"' he said.
Shares in NZX-listed Air New Zealand, which reported a 61 per cent decline in first-half net profit, fell 3c to close at 86c on Friday.
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International ops
There is a pack mentality in manipulating who goes where in V & domestic - they play until it becomes checkmate. Planes are still flying though and profits are up, who cares right?
