Virgin announcement: 29 August 2014

[engine out]

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]

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!

[porch monkey]

No profit before 2016. And if it doesn't eventuate by then, get used to working for Singaporeans and Hogan.

[wheels_down]

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]

Net loss of $355.6 million.

[SHVC]

How much did tigerair contribute to that?

[OneDotLow]

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]

Are these still guesses...? No media release as yet.

[OneDotLow]

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???

[SHVC]

These are accurate, just received the group email..

[ampclamp]

261 million loss.

[TBM-Legend]

As a percentage of the business turnover VA is considerably worse than QF operating loss not counting write-downs which are paper losses..

[Comoman]

Also sold 35% of Velocity!

[Archer2002]

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]

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

[Servo]

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

[SandyPalms]

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

[porch monkey]

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.........

[Kemerton]

Anyone have link to speech ?

[Ken Borough]

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.