Virgin loses $767K a day.....for how much longer?
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Virgin loses $767K a day.....for how much longer?
Virgin Australia third quarter loss widens to $69 million | afr.com
69 Mil in 3 months. Going the need some more economy X head rests me thinks. Or maybe we can load the front hold with cash from HNA in HKG?
69 Mil in 3 months. Going the need some more economy X head rests me thinks. Or maybe we can load the front hold with cash from HNA in HKG?
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Virgin used to have premium service (compared to Jetstar) and they actually flew to their timetables.
Unfortunately some bright spark decided a race to the bottom with Jetstar was the was forward, and now the results speak for themselves, as people vote with their feet.
Unfortunately some bright spark decided a race to the bottom with Jetstar was the was forward, and now the results speak for themselves, as people vote with their feet.
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Virgin loses $767K a day.....for how much longer?
JB is spruiking his brilliance as the cash position has gone up and the debt has gone down while the losses pile up. It sure is a magic pudding! Maybe he should work for the Federal Government, would solve our debt and deficit position while increasing spending!
For as long as HNA are prepared to launder their cash through VA...
The idea is to actually keep some of it after it is "cleaned".
Last edited by Icarus2001; 20th May 2017 at 14:42.
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One of my contacts in business in the middle Kingdom has told me that there are now more capital controls on free flowing money out of China. Might be a dry old time if you are waiting for the cash to come from there.
For as long as HNA are prepared to launder their cash through VA...
JB is spruiking his brilliance as the cash position has gone up and the debt has gone down while the losses pile up. It sure is a magic pudding! Maybe he should work for the Federal Government, would solve our debt and deficit position while increasing spending!
JB is spruiking his brilliance as the cash position has gone up and the debt has gone down while the losses pile up. It sure is a magic pudding! Maybe he should work for the Federal Government, would solve our debt and deficit position while increasing spending!
There needs to be someone do a case study for a PhD in how a person comes into a company, spends billions it doesn't have creating lounges and cabins that it can't afford - and lounges that are cold and uninviting mind you - and run up losses for seven years and continually qualify for a bonus. Many said this bloke wasn't much chop at QF and just was in the right place at the right time to get promoted and maybe they're right... the last 7 years has proven beyond doubt why he didn't get the top job at QF.
I don't know what it is, must be something to do with the Dunning-Kreuger effect.
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I find the complete lack of any meaningful journalism on the issue also interesting...
All there was from AFR, SBS and the Australian Aviation magazine was a cut and paste of the press release... I guess that's what passes for journalism in this country now; just let the companies with their PR departments write their own news for public consumption....
Would be nice if some investigative journalist who actually understood business to do a spread in the weekend Australian.
Anyone else noted that the Aviation section is not what it used to be, all airports, MH70 and drones these days.
All there was from AFR, SBS and the Australian Aviation magazine was a cut and paste of the press release... I guess that's what passes for journalism in this country now; just let the companies with their PR departments write their own news for public consumption....
Would be nice if some investigative journalist who actually understood business to do a spread in the weekend Australian.
Anyone else noted that the Aviation section is not what it used to be, all airports, MH70 and drones these days.
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You may need to research how "laundering money" works.
The idea is to actually keep some of it after it is "cleaned".
The idea is to actually keep some of it after it is "cleaned".
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Branson had to watch the Virgin America brand fold under Alaska Airlines, and wouldn't be too happy with this one right now with such appalling loss of capital requiring cash injections to pay the bills.
Complex diversity issues with Tiger, high internal operational costs are things this company needs to manage ASAP.
Virgin Blue were sailing very close to the wind prior to Ansett's demise - the current iteration is heading the same way without a massive refocus on core business.
Complex diversity issues with Tiger, high internal operational costs are things this company needs to manage ASAP.
Virgin Blue were sailing very close to the wind prior to Ansett's demise - the current iteration is heading the same way without a massive refocus on core business.
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I find the complete lack of any meaningful journalism on the issue also interesting...
All there was from AFR, SBS and the Australian Aviation magazine was a cut and paste of the press release... I guess that's what passes for journalism in this country now; just let the companies with their PR departments write their own news for public consumption....
All there was from AFR, SBS and the Australian Aviation magazine was a cut and paste of the press release... I guess that's what passes for journalism in this country now; just let the companies with their PR departments write their own news for public consumption....
“Journalism is printing what someone else does not want printed: everything else is public relations.”
-- George Orwell
-- George Orwell
Here's a snip from the first article:
WENDY BACON: We found that over 50 per cent was generated by public relations. Now on some of those stories there had been some work done by journalists. But often pretty much they were just straight PR.
I've noted The Australian doing more like infomercials on Virgin.
Sydney Morning Herald or Fin Review are a better option.
4 Corners or The Investigators in the 80s were a favourite of mine.
Who can really tell what the numbers mean. What I do know is that QF are posting gigantic profits nearly every single quarter. Their share price has gone from just over $1 to a close of $4.58 within the last 3 years.
People like to say QF is all creative accounting. I say brand new 787's rolling in and starting new routes isn't creative accounting, it's a reality.
I completely disagree with those who are already criticising the new guy. There is indeed a change of guard going on and some of the new top jobs are going to some highly regarded people (SA included).
Sydney Morning Herald or Fin Review are a better option.
4 Corners or The Investigators in the 80s were a favourite of mine.
Who can really tell what the numbers mean. What I do know is that QF are posting gigantic profits nearly every single quarter. Their share price has gone from just over $1 to a close of $4.58 within the last 3 years.
People like to say QF is all creative accounting. I say brand new 787's rolling in and starting new routes isn't creative accounting, it's a reality.
I completely disagree with those who are already criticising the new guy. There is indeed a change of guard going on and some of the new top jobs are going to some highly regarded people (SA included).
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Why would Branson give a ****? He sold the majority of his shares years ago. He's down to 5%. Any way, to answer the question posed, at that rate and according to the last bank statement released by Borghetti, about 1900 days, I guess.
I've noted The Australian doing more like infomercials on Virgin.
Sydney Morning Herald or Fin Review are a better option.
4 Corners or The Investigators in the 80s were a favourite of mine.
Who can really tell what the numbers mean. What I do know is that QF are posting gigantic profits nearly every single quarter. Their share price has gone from just over $1 to a close of $4.58 within the last 3 years.
People like to say QF is all creative accounting. I say brand new 787's rolling in and starting new routes isn't creative accounting, it's a reality.
I completely disagree with those who are already criticising the new guy. There is indeed a change of guard going on and some of the new top jobs are going to some highly regarded people (SA included).
Sydney Morning Herald or Fin Review are a better option.
4 Corners or The Investigators in the 80s were a favourite of mine.
Who can really tell what the numbers mean. What I do know is that QF are posting gigantic profits nearly every single quarter. Their share price has gone from just over $1 to a close of $4.58 within the last 3 years.
People like to say QF is all creative accounting. I say brand new 787's rolling in and starting new routes isn't creative accounting, it's a reality.
I completely disagree with those who are already criticising the new guy. There is indeed a change of guard going on and some of the new top jobs are going to some highly regarded people (SA included).
Also, Qantas did not secure "60 unwanted" 737-800 from American's order book, it was more like 16 and then Qantas ordered/optioned more. So much like 'a stone skipping across a pond' these days with journalists who I think just repeat common misconceptions as facts rather than do actual research. It's not possible to be an airline/aviation expert in this context unless one has actually worked in an airline.
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True about 1900 days. I forgot the Fed might raise interest rates 0.25% and since most of 1.5-2 Billion in debt is probably in USD that about 5 million-ish in interest. Plus FX drop of AUD to USD to about 70c. So 
(carry one one, add the word underlying to every statement) about $700K a day underlying?
(carry one one, add the word underlying to every statement) about $700K a day underlying?
