Virgin loses $767K a day.....for how much longer?
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Care to name a long haul airline that has only made good decisions?
It's just that VA (or their so-called management) has made so many bad decisions, it's hard to even think of any good decisions they've made, hence why they are going broke!
It would be fair to say all companies, not just airlines make poor decisions. One of my favourites was Brett Godfrey and the swipe to watch IFE mess.
All that matters is how they are tracking now and that is badly. Losing $32,000 per hour, every day for three months has got to hurt.
Perhaps they want to drive down the share price to mop up the public shares and go private?
All that matters is how they are tracking now and that is badly. Losing $32,000 per hour, every day for three months has got to hurt.
Perhaps they want to drive down the share price to mop up the public shares and go private?
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Perhaps they want to drive down the share price to mop up the public shares and go private?
He's been MIA for so long now, it's obvious that his heart isn't in the job at VA, which is very demoralising for the long term staff who helped to build this place from virtually nothing.
They have to stand by helplessly watching him reduce it back to virtually nothing!
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with the VA/NZ alliance, understand that they must keep BNE/DUD/BNE services going, no matter how much of a loss they make on those sectors. Please correct me if I'm wrong, with this statement.
Timings used to be arrive DUD mid afternoon, turn around in an hour or so & head straight back to BNE.
Now the timings are arrive DUD just before midnight, park aircraft there for 8+ hours & then fly back to BNE at 0800. These timing surely only suit Kiwis. Heard that lots of Australians used to fly into DUD, but now, unless they are giving away seats, what Australian wants to land at 2340 & come home at 0800. Are VA/NZ trying to get rid of BNE/DUD/BNE services altogether by saying to NZ & Australian authorities they can't make a go of that route. Believe route has been operated by VA metal for quite a few years now.
Does VA do any maintenance at DUD ? If not, why leave aircraft parked there for 8 or so hours ?
Timings used to be arrive DUD mid afternoon, turn around in an hour or so & head straight back to BNE.
Now the timings are arrive DUD just before midnight, park aircraft there for 8+ hours & then fly back to BNE at 0800. These timing surely only suit Kiwis. Heard that lots of Australians used to fly into DUD, but now, unless they are giving away seats, what Australian wants to land at 2340 & come home at 0800. Are VA/NZ trying to get rid of BNE/DUD/BNE services altogether by saying to NZ & Australian authorities they can't make a go of that route. Believe route has been operated by VA metal for quite a few years now.
Does VA do any maintenance at DUD ? If not, why leave aircraft parked there for 8 or so hours ?
What I would like to know, is where are the (too clever for the company's own good) architects of the entire VARA ATR fiasco.
They should be the first ones to get the chop. That is, unless they have already taken their KPI's and moved on to the next "project".
They should be the first ones to get the chop. That is, unless they have already taken their KPI's and moved on to the next "project".
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Maybe Il Dolce is just further emulating what his former colleagues over at Qantas have allegedly done.
Drive the share price down through massive write offs, lock in a large tranche of executive bonus shares at the depressed price and then miraculously through a transformation program, turn the ship around and massage the share price higher before cashing them in.
Hell you could even dump them on the market after they vest depressing the share price due to the sheer volume and then buy a parcel back at the reduced price.
Simples really!
Drive the share price down through massive write offs, lock in a large tranche of executive bonus shares at the depressed price and then miraculously through a transformation program, turn the ship around and massage the share price higher before cashing them in.
Hell you could even dump them on the market after they vest depressing the share price due to the sheer volume and then buy a parcel back at the reduced price.
Simples really!
Ah yes, rumoured, Alan and the other execs at Qantas have done very nicely with this scam!
As that Oils song Goes , "the rich get richer, and the rest of us get the picture"
As that Oils song Goes , "the rich get richer, and the rest of us get the picture"
Last edited by Boe787; 26th May 2017 at 07:20. Reason: Spelling
Ken, I hope that JB and his fellow compatriot board members have more than lawyers when the next investors meeting is called.
Surfstitch just got sued for $100 million for similar with their share price, I don't imagine VAH is far away from that either.... Someone has to be held accountable for losing this much money.
Surfstitch just got sued for $100 million for similar with their share price, I don't imagine VAH is far away from that either.... Someone has to be held accountable for losing this much money.
Ken, I hope that JB and his fellow compatriot board members have more than lawyers when the next investors meeting is called.
Surfstitch just got sued for $100 million for similar with their share price, I don't imagine VAH is far away from that either.... Someone has to be held accountable for losing this much money.
Surfstitch just got sued for $100 million for similar with their share price, I don't imagine VAH is far away from that either.... Someone has to be held accountable for losing this much money.
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Cathay bought all of their 777-200s with the smaller door, a disconnect between purchasing and cargo as to the requirement. Some years ago, but VA aren't the only dummies in this game.
Not widely known, HNA book dodge up to 30% tax on new aircraft when they put second hand aircraft into China. It is the rumoured reason for the loss making Hong Kong Airlines, another HNA subsidiary, even being in existence: cycling aircraft through to the mainland parts of the company after a year or two in HK. Maybe a bunch of HNA leased A330s heading for VA?
And don't discount the value of this company to the Chinese. The Lowy Institute used their big brains to push Qantas into this whole China and Asia Jetstar set up because that is where the statistics said the massive market potential is. Jetstar is a failure in Asia, but HNA already have the China network to do what Qantas couldn't, they just needed the Aus part. Perhaps we will see a paint scheme change soon to the red and yellow?
Not widely known, HNA book dodge up to 30% tax on new aircraft when they put second hand aircraft into China. It is the rumoured reason for the loss making Hong Kong Airlines, another HNA subsidiary, even being in existence: cycling aircraft through to the mainland parts of the company after a year or two in HK. Maybe a bunch of HNA leased A330s heading for VA?
And don't discount the value of this company to the Chinese. The Lowy Institute used their big brains to push Qantas into this whole China and Asia Jetstar set up because that is where the statistics said the massive market potential is. Jetstar is a failure in Asia, but HNA already have the China network to do what Qantas couldn't, they just needed the Aus part. Perhaps we will see a paint scheme change soon to the red and yellow?