Virgin Australia : 315 Million Loss - How long can they survive?
You are right many did see him as the Messiah, personally I listened and gave him the benefit of the doubt as with any new employee. I became concerned when he purchased Skywest as I knew Alliance or Network were the pick of the bunch. I was indeed shouted down and told by one colleague I should leave because I wasn’t singing from the same song sheet.
Regardless, when I met him I treated him with respect and would have had I run into him on his last day. It’s just my opinion that the new CEO would have done a better job had he been afforded the opportunity 9 years ago. Maybe I’m wrong.
I’ve always believed Qf did a better job as they had that economy of scale you mention plus years more experience. I recall paxing one time on a QF 330 in uniform last minute and couldn’t believe how well I was treated, it was incredible they couldn’t do enough for me despite me being the opposition. I also noted how clean, quiet and calm the atmosphere was in the Qf terminals, I was certainly envious as the opposite is true at Virgin.
Anyway, there are a lot of valid comments on here but some are a little gleeful and I think this is concerning. If Virgin collapsed it would no doubt be replaced be a very low condition competitor with serious clout.
Regardless, when I met him I treated him with respect and would have had I run into him on his last day. It’s just my opinion that the new CEO would have done a better job had he been afforded the opportunity 9 years ago. Maybe I’m wrong.
I’ve always believed Qf did a better job as they had that economy of scale you mention plus years more experience. I recall paxing one time on a QF 330 in uniform last minute and couldn’t believe how well I was treated, it was incredible they couldn’t do enough for me despite me being the opposition. I also noted how clean, quiet and calm the atmosphere was in the Qf terminals, I was certainly envious as the opposite is true at Virgin.
Anyway, there are a lot of valid comments on here but some are a little gleeful and I think this is concerning. If Virgin collapsed it would no doubt be replaced be a very low condition competitor with serious clout.
Last edited by AerialPerspective; 29th Aug 2019 at 15:55.
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Aw, I've got a new pet. He's gonna follow me everywhere. How cute.
You're just so lovable, everything you say is aviation gold.
Now, back to the Instructor thread petal, pick up the pace.
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https://www.escape.com.au/travel-adv...1570540dfaad6c
MM reveals her best packing tips - looks like she'll have to use them.
MM reveals her best packing tips - looks like she'll have to use them.
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A picture says 1000 words...what a shemozzle
Here the CEO trying to broadcast, confidence in the Airline, with an A330 model in the back ground with a missing engine? And then also having huge spotlight highlighting the fact displaying the airline is in disrepair,just like an rudderless ship, an engineless aircraft how symbolic reflects just how poorly managed this airline is, especially from staff within the Virgin Australia headquarters.
First to be shown the door should be the CEO PA and PR department for Blatantly exhibiting such levels of incompetence and a poor corporate image.
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Here the CEO trying to broadcast, confidence in the Airline, with an A330 model in the back ground with a missing engine? And then also having huge spotlight highlighting the fact displaying the airline is in disrepair,just like an rudderless ship, an engineless aircraft how symbolic reflects just how poorly managed this airline is, especially from staff within the Virgin Australia headquarters.
First to be shown the door should be the CEO PA and PR department for Blatantly exhibiting such levels of incompetence and a poor corporate image.
First to be shown the door should be the CEO PA and PR department for Blatantly exhibiting such levels of incompetence and a poor corporate image.
Instantly achieving a 50% productivity improvement!
Last edited by The Bullwinkle; 29th Aug 2019 at 22:47.
This all sounds a bit strange to me.
How is it that QF can make such a good profit and VA such a huge loss when one considers that both have about the same load factors , terminal costs, fleet costs etc. etc.( in proportion of course.)
Is it some very clever accounting methods used by QF?
One should remember this;
Qantas shocks with $2.8bn full-year loss, analysts call for management spill
By business reporter Michael Janda
Updated 28 Aug 2014, 2:56pm
RELATED STORY: As it happened: Qantas posts record $2.84 billion loss
Qantas has shocked everyone with a record $2.84 billion headline loss, around three times as bad as expected.
It is a vicious negative turn from last financial year's wafer-thin $1 million profit.
And then the very next year it s this:
Qantas’ underlying profit before tax of $975 million was a turnaround of $1.6 billion compared with 2013/2014 – including the best second half performance in our history. I’m incredibly proud of our people, who have driven the Qantas Transformation program forward with passion, skill and determination. Without their hard work this outstanding result would not have been possible.
This massive turnaround strikes me as being a very clever bit of accounting !!
Some critics have said that VA have paid their Executives huge salaries and this makes a difference but what about the colossal salaries paid by QF to their top brass?, doesn't seem to have hurt their profit margins at all!!
There does not seems to be much logic in this huge difference between the profits/ losses between the two Airlines .
Sure there are inefficiencies in VA but surely not that much to make such a big difference.
Puzzling methinks ???
I would like to think a fair bit of this difference and VA's huge loss is a factor of Accounting to some degree.
It seems a bit like it to me.
One can only hope that VA does turn things around as I have found their product to be so much better than Qf.
It would be a shame to see VA slip back to a budget Airline and let QF have the cream of the travelling public to themselves.
We would not have the same high quality of service if there is no real competition.
How is it that QF can make such a good profit and VA such a huge loss when one considers that both have about the same load factors , terminal costs, fleet costs etc. etc.( in proportion of course.)
Is it some very clever accounting methods used by QF?
One should remember this;
Qantas shocks with $2.8bn full-year loss, analysts call for management spill
By business reporter Michael Janda
Updated 28 Aug 2014, 2:56pm
RELATED STORY: As it happened: Qantas posts record $2.84 billion loss
Qantas has shocked everyone with a record $2.84 billion headline loss, around three times as bad as expected.
It is a vicious negative turn from last financial year's wafer-thin $1 million profit.
And then the very next year it s this:
Qantas’ underlying profit before tax of $975 million was a turnaround of $1.6 billion compared with 2013/2014 – including the best second half performance in our history. I’m incredibly proud of our people, who have driven the Qantas Transformation program forward with passion, skill and determination. Without their hard work this outstanding result would not have been possible.
This massive turnaround strikes me as being a very clever bit of accounting !!
Some critics have said that VA have paid their Executives huge salaries and this makes a difference but what about the colossal salaries paid by QF to their top brass?, doesn't seem to have hurt their profit margins at all!!
There does not seems to be much logic in this huge difference between the profits/ losses between the two Airlines .
Sure there are inefficiencies in VA but surely not that much to make such a big difference.
Puzzling methinks ???
I would like to think a fair bit of this difference and VA's huge loss is a factor of Accounting to some degree.
It seems a bit like it to me.
One can only hope that VA does turn things around as I have found their product to be so much better than Qf.
It would be a shame to see VA slip back to a budget Airline and let QF have the cream of the travelling public to themselves.
We would not have the same high quality of service if there is no real competition.
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There does not seems to be much logic in this huge difference between the profits/ losses between the two Airlines .
Sure there are inefficiencies in VA but surely not that much to make such a big difference.
Puzzling methinks ???
Sure there are inefficiencies in VA but surely not that much to make such a big difference.
Puzzling methinks ???
The Virgin Domestic fleet has an EBITA of $400-$500m, these numbers are evident back in the early Virgin Blue days, which in return didn’t have all the extra baggage and reported global record profit margins. This is then eroded away to nothing by VA International, Tiger ongoing writedowns and poor fuel management.
A lot of cash on the domestic front once they wipe away the cost base.
There is a big difference. Qantas ‘Group’ has double the aircraft as Virgin. Revenue is times 4. As is passengers. They have a loco as big as Virgin domestic itself. There is a half a billion dollar frequent flyer program. Has long term business contracts signed. Will always have the corporate edge due to International network.
The Virgin Domestic fleet has an EBITA of $400-$500m, these numbers are evident back in the early Virgin Blue days, which in return didn’t have all the extra baggage and reported global record profit margins. This is then eroded away to nothing by VA International, Tiger ongoing writedowns and poor fuel management.
A lot of cash on the domestic front once they wipe away the cost base.
This is what puzzles me is the difference in revenue profit/ loss given the proportional size of the fleets etc.
Also Doesn't explain the unbelievable $1.6 billion QF magical turnaround in revenue / profit in 2015.
More senior VA guys who transferred in are hoping (possibly maybe) back to VA...others...not so lucky is what they are thinking. Hoping this worst case doesn't actually eventuate.
80.10 To avoid doubt, a Pilot covered by this Agreement cannot be required to give up their position or base because of redundancies affecting a Virgin Australia Pilot group under another enterprise agreement (for example, in the Australian Wide Body Aircraft Operations or New Zealand based operations). A Pilot covered by this Agreement can only be made redundant if a position covered by this Agreement is made redundant.
Evertonian
I think I previously alluded to the fact that the TT EBA was just to keep them quiet while all this was going on in the background. "Gives us a dig at JQ & it won't cost too much in the long run as TT will go."
Sadly, there are some good crew (TC) there & I hope they get through this.
Sadly, there are some good crew (TC) there & I hope they get through this.
from fair work. NB EA
80.10 To avoid doubt, a Pilot covered by this Agreement cannot be required to give up their position or base because of redundancies affecting a Virgin Australia Pilot group under another enterprise agreement (for example, in the Australian Wide Body Aircraft Operations or New Zealand based operations). A Pilot covered by this Agreement can only be made redundant if a position covered by this Agreement is made redundant.
I’m thinking that Tiger will be rebranded more than just folded up. That’s a big piece of the pie they are handing back to Jetstar if they fold it. More like a rebranding into a new Virgin Group aimed at where VB was originally positioned, with an integration for Tiger Pilots. This is a time for the unions to really stand up.
With the economy beginning to slow down I think it’s a good time for all pilots to take stock of where they are because the music is about to stop and I hope you get a comfy seat, because you are going to be in it for a while.
With the economy beginning to slow down I think it’s a good time for all pilots to take stock of where they are because the music is about to stop and I hope you get a comfy seat, because you are going to be in it for a while.
I noted in one of the many articles written now - I forget which one - that the US flying is very much under scrutiny for potential cancellation or winding back. With all media airline reporting who knows what the truth is...but it gave the impression that it may not be sticking around under the new route structure. How many pilots are employed on the 777 operation?
Has there been any public announcements with intention to dissolve TT ?
Using Virgin logic Loses of 45mil per year with only 13 aircraft can’t be too bad, the Ejets and Atrs lost more stationary in foreign countries.
Cancel the cadet scheme!
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https://centreforaviation.com/news/v...ructure-933616
So has she left the building, or is she still haunting the place?
So has she left the building, or is she still haunting the place?
She worked alongside PS at Q Rail for 3 years so they are not unknown to each other, its probably more a case of her aspiration for a gig in the mothership not the failing loco. She lost out for his job and now the reporting directors of Virgin. She was accountable for the $11m Pilot fallout and the worst OTP of any carrier in the history of reporting. Any outside candidate will have edge over this ugly baggage. Quite simply she is responsible for a large chunk of the $2billion lost on the last decade, more than a quarter of it.
Perfect fit over at QF I think.
Perfect fit over at QF I think.