Virgin Australia to be privatised ?
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Further to SVHC comments above, A mate from Alliance told me today that they are taking over the EML flying and most likely GLT as well. So it looks like the Brisbane ATR base is about to get smaller.
Thanks Icarus, exactly what I was trying to say and Leadsled can try and wriggle his way out of it by leaving one of the definitions out, not to mention turning a discussion into some sort of competition
The Australian view: An amazingly well run Aussie company that Air NZ have no choice but to exit from due to needing capital to fight tough competition in its home market.
The rest of planet earth including analysts and Air NZ view: another Aussie dog of a company that, in spit of restructuring is still basically a pennies in the dollar LCC. Changing the collar doesn't mean you have a new dog. Blowing through $150 mill in cash reserves to make $60mill profit doesn't make sense in any other first world country.
Air NZ sell, take a $200mill write down and move on. 10 yrs from now they'll be glad it was only $200mill.
We're about to find out what VB is really worth, I'm guessing not much.
The rest of planet earth including analysts and Air NZ view: another Aussie dog of a company that, in spit of restructuring is still basically a pennies in the dollar LCC. Changing the collar doesn't mean you have a new dog. Blowing through $150 mill in cash reserves to make $60mill profit doesn't make sense in any other first world country.
Air NZ sell, take a $200mill write down and move on. 10 yrs from now they'll be glad it was only $200mill.
We're about to find out what VB is really worth, I'm guessing not much.
Last edited by AerialPerspective; 4th Dec 2017 at 05:35. Reason: Sp
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CurtinTwitcher, thanks for the post, reminded me of a previous article with the same union making comment, yet from a different angle.
What an amazing turnaround in engagement in such a short period of time.
On March 21, the AFR quoted:
In the latest newsletter from The Association for Virgin Group Pilots (VIPA), union president John Lyons said the level of disengagement was "astonishing" and short- and long-term illness was at an all-time high. He blamed a lack of co-operation and communication between departments.
Virgin Australia aims for $500 million balance-sheet fix | afr.com
Fast forward to April 1, the AFR quoted:
"It is a far better place to work at than it was years ago. He has done a remarkable job turning Virgin around – there are no two ways around it," says John Lyons, the president of the Association for Virgin Australian Australia Group Pilots, which represents about 50 per cent of the carrier's pilots.
What an amazing turnaround in engagement in such a short period of time.
On March 21, the AFR quoted:
In the latest newsletter from The Association for Virgin Group Pilots (VIPA), union president John Lyons said the level of disengagement was "astonishing" and short- and long-term illness was at an all-time high. He blamed a lack of co-operation and communication between departments.
Virgin Australia aims for $500 million balance-sheet fix | afr.com
Fast forward to April 1, the AFR quoted:
"It is a far better place to work at than it was years ago. He has done a remarkable job turning Virgin around – there are no two ways around it," says John Lyons, the president of the Association for Virgin Australian Australia Group Pilots, which represents about 50 per cent of the carrier's pilots.
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Singapore just did a little deal to up their ownership, interesting times.
Singapore Airlines boosts stake in Virgin Australia
Singapore Airlines boosts stake in Virgin Australia
Any truth that VA are in a negative cashflow situation, and various creditors are unpaid? All unfounded rumours, but certainly not a sustainable position if this is even close to accurate.
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Conniver, have you got a link to the 1 April quote? I find it hard to believe as it completely contradicts everything I've read from VIPA to date.
Lot of first time posters on here. Few of the lads coming out the woodwork!
Lot of first time posters on here. Few of the lads coming out the woodwork!
Berealgetreal
You could go back to Curtain twitcher's post number 50,
Virgin shareholder spat sparks aviation shake-up | afr.com
Your shocked that VIPA is contradicting itself??
You could go back to Curtain twitcher's post number 50,
Virgin shareholder spat sparks aviation shake-up | afr.com
Your shocked that VIPA is contradicting itself??
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Air New Zealand sale could mean big payday for Virgin Australia's John Borghetti
Air New Zealand's failed attempt to oust Virgin Australia chief executive John Borghetti could have the ironic result of the airline boss receiving a payout of around $8 million if Singapore Airlines makes a successful takeover bid
Air NZ CEO quit the board because he didn't have the numbers to sack JB.
Air New Zealand's failed attempt to oust Virgin Australia chief executive John Borghetti could have the ironic result of the airline boss receiving a payout of around $8 million if Singapore Airlines makes a successful takeover bid
Air NZ CEO quit the board because he didn't have the numbers to sack JB.
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Since Mr Borghetti's appointment in May 2010, Virgin shares have fallen by 27.6 per cent while shares in rival Qantas have risen by 60.5 per cent.
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What, so they can employ the most creative accountants they can, and manage to manipulate the stock price, on which their bonuses are based? Neither of them are worth the money they are paid. Not even close.
China Southern and Hainan are quoted to be interested.
Singapore really needs to take control of this mob. Money doesn't appear to be an issue.
Singapore really needs to take control of this mob. Money doesn't appear to be an issue.
Thread Starter
With the Virgin Aust (VAH) share price now at a historic low and a corresponding low market capitalisation it would be interesting to know if VAH are in breach of any lease or loan covenants.