VA pilots worried about employment 2021
In addition, SQ doesn't have a respective track record of investing in other airlines.
There was SQ's involvement by investing in the NZ/AN debacle, even though they had the chance to walk away from AN when NZ used their veto to block SQ from buying News Ltd's stake in AN.
SQ also invested in VS, which turned out to a complete financial disaster, which led to SQ selling up at a loss to DL.
There was also SQ's involvement in Tiger Airways Australia, which they ended up "selling to VA" to save face after all the PR & maintenance debacles.
And then there's SQ's own 20% stake in VA. In the early years they were hands on (along with EY) during the early JB reign, spent a lot of Capital and tipped so much money (especially during the "capacity war") and it turned out to be a complete financial disaster.
There was SQ's involvement by investing in the NZ/AN debacle, even though they had the chance to walk away from AN when NZ used their veto to block SQ from buying News Ltd's stake in AN.
SQ also invested in VS, which turned out to a complete financial disaster, which led to SQ selling up at a loss to DL.
There was also SQ's involvement in Tiger Airways Australia, which they ended up "selling to VA" to save face after all the PR & maintenance debacles.
And then there's SQ's own 20% stake in VA. In the early years they were hands on (along with EY) during the early JB reign, spent a lot of Capital and tipped so much money (especially during the "capacity war") and it turned out to be a complete financial disaster.
engine out: You are correct about EY. They are in a mess. Merger discussions with EK were called off when EK discovered financial skeletons in the EY closet relating to the collapse of Air Berlin. EY has been cancelling aircraft orders and reducing flying considerably. About 200 EY pilots have resigned or gone to fly with EK in the last 3 years. This figure does not include the pilots who were layed off.
The value of the EY investment in the bankrupt Alitalia may be known soon after 18 Mar 2020 if any offers are made to the Administrators for the purchase of Alitalia or any of its components. LH, AF and KL have indicated they have no interest.
The HNA group are a basket case with debt USD117B and currently losing USD14M per week. Assets are being sold at fire sale prices. One could presume HNA would accept any offer for their VA holding.
The value of the EY investment in the bankrupt Alitalia may be known soon after 18 Mar 2020 if any offers are made to the Administrators for the purchase of Alitalia or any of its components. LH, AF and KL have indicated they have no interest.
The HNA group are a basket case with debt USD117B and currently losing USD14M per week. Assets are being sold at fire sale prices. One could presume HNA would accept any offer for their VA holding.
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The pot of money is empty....has been for a long time
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The value in VA the consortium only wants is the passenger traffic on to their metal underpinned by the loyalty programs and their 'reciprocal' benefits. 10m Velocity Australians weighted towards flying on EY et al for program benefits.
VA share price @ 0.77c. How low can it go...
VA share price @ 0.77c. How low can it go...
T-Vasis: You had a slip of the pen. The VA share price is currently $0.077. The market capitalisation is equivalent to the cost of 2 x B777-300ER aircraft.
If you are a resident of PER and Velocity member EY would be of no interest to you. EY has withdrawn from PER completely plus another 15 destinations with more to follow.
If you are a resident of PER and Velocity member EY would be of no interest to you. EY has withdrawn from PER completely plus another 15 destinations with more to follow.
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Yes - a slip of the keyboard.
But B772 - what value is Perth to anyone. That's not where the population and demand is. And I don't speak to just EY - I speak to all members where the program benefits apply - that includes the key shareholders of VA - hence their investment in the first place. They didn't invest becasue VA was a cash cow... They invested to capture the AUS market share to fill their own seats. Hence my use of 'et al' in the original statement. You're either a QF or VA member (or both in some instances).
But B772 - what value is Perth to anyone. That's not where the population and demand is. And I don't speak to just EY - I speak to all members where the program benefits apply - that includes the key shareholders of VA - hence their investment in the first place. They didn't invest becasue VA was a cash cow... They invested to capture the AUS market share to fill their own seats. Hence my use of 'et al' in the original statement. You're either a QF or VA member (or both in some instances).
Might be a silver lining on the horizon. Oil Price absolutely dropping like a rock!
Crazy stuff! $20 oil not far off!
Crazy stuff! $20 oil not far off!
So what's with the rumour that the A330 crews have been asked to take Leave without pay?
Apparently 2 days this month to start with.
Gotta be keen on that.
Apparently 2 days this month to start with.
Gotta be keen on that.
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The primary reason it’s falling is the Russians and Saudis can’t figure out how much they have to cut production by when airlines (and everyone else) stops burning the stuff.
VA has a future but it can’t forever keep paying its debt obligations by borrowing new debt like a dysfunctional family paying one credit card off with another. This has resulted in VA bonds being 8.5% at a time of record low interest rates. I’d imagine the next bond rate is higher still. (The joys of a country where the banks would rather lend to prop up the housing market than to assist businesses). The billion dollars sitting in the bank earning nothing is all borrowed, costing VA approximately 85,000,000 a year for the necessity of an airline having a cash reserve as required by a high cash flow volatile business.
Sooner of later VA will have to improve its debt to equity ratio. Until then it’s reliant on the bond markets and hoping the current panic won’t result in the credit market doing anything stupid.
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Oils ain’t oils
Just because the oil price is dropping it doesn’t mean VA will benefit. If they have hedged a large percentage of their fuel at a higher rate then there is no benefit when the price drops as they still have to pay the high rate. It’s the opposite effect when you hedge a large quantity at a low price and then prices rise exponentially. Knowing how the Village morons operate, I would bet that they have hedged high. They’ve done that before when the Godfrey gang were running the place and it almost sent them to the wall.
Flame me please.
‘VA Pilots worried about employment’ but you still see APUs running needlessly with nobody on board, ground power connected on low temperature days. Can’t be that worried, must leave all the lights on at home as well.
Time for a reality check. Time to get over past, present and future injustices before its too late. Hands up who feels like doing another interview or going to the Middle East?
Lead by example, turn up on time, wear the uniform with pride, engage with the customer where you can and if you can save a dollar why not?
It’s not about being a company man or even saving the company it’s about being professional, doing what’s right and ultimately keeping your job. Let others hold the low standards.
Yep, I’m as pissed off as the next bloke about the rostering, farming out of work, poor decisions, waste and career destruction but I’ll be more pissed off when it closes and I’m trying to get a job, sell the house and pull the kids out of school to head overseas.
Here’s another hot tip: if you hate it that much go and do something else.
By the way, Covid-19 isn’t SARS, it’s not the flu it might go away, it might not. News.com and channel 7 news are not good sources for information FYI.
(I’m neither management nor a min fuel guy!)
Time for a reality check. Time to get over past, present and future injustices before its too late. Hands up who feels like doing another interview or going to the Middle East?
Lead by example, turn up on time, wear the uniform with pride, engage with the customer where you can and if you can save a dollar why not?
It’s not about being a company man or even saving the company it’s about being professional, doing what’s right and ultimately keeping your job. Let others hold the low standards.
Yep, I’m as pissed off as the next bloke about the rostering, farming out of work, poor decisions, waste and career destruction but I’ll be more pissed off when it closes and I’m trying to get a job, sell the house and pull the kids out of school to head overseas.
Here’s another hot tip: if you hate it that much go and do something else.
By the way, Covid-19 isn’t SARS, it’s not the flu it might go away, it might not. News.com and channel 7 news are not good sources for information FYI.
(I’m neither management nor a min fuel guy!)
Last edited by Berealgetreal; 9th Mar 2020 at 19:04.
Totally agree mate. Annoys the crap out of me when there’s tangible savings the crew can make but they don’t because they either don’t care or are so angry at life they’re trying to prove some sort of point.
Not a company man myself but I don’t like resources wasted for no good reason either.
Not a company man myself but I don’t like resources wasted for no good reason either.
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‘VA Pilots worried about employment’ but you still see APUs running needlessly with nobody on board, ground power connected on low temperature days. Can’t be that worried, must leave all the lights on at home as well.
For a start, we are required to turn off the APU if there’s nobody on board, (unless engineering has taken control in those instances when ground power isn’t available) so the situation you have described would/should result in disciplinary action, hence the reason that it does not occur, contrary to your post.
‘VA Pilots worried about employment’ but you still see APUs running needlessly with nobody on board, ground power connected on low temperature days. Can’t be that worried, must leave all the lights on at home as well.
Time for a reality check. Time to get over past, present and future injustices before its too late. Hands up who feels like doing another interview or going to the Middle East?
Lead by example, turn up on time, wear the uniform with pride, engage with the customer where you can and if you can save a dollar why not?
It’s not about being a company man or even saving the company it’s about being professional, doing what’s right and ultimately keeping your job. Let others hold the low standards.
Yep, I’m as pissed off as the next bloke about the rostering, farming out of work, poor decisions, waste and career destruction but I’ll be more pissed off when it closes and I’m trying to get a job, sell the house and pull the kids out of school to head overseas.
Here’s another hot tip: if you hate it that much go and do something else.
By the way, Covid-19 isn’t SARS, it’s not the flu it might go away, it might not. News.com and channel 7 news are not good sources for information FYI.
(I’m neither management nor a min fuel guy!)
Time for a reality check. Time to get over past, present and future injustices before its too late. Hands up who feels like doing another interview or going to the Middle East?
Lead by example, turn up on time, wear the uniform with pride, engage with the customer where you can and if you can save a dollar why not?
It’s not about being a company man or even saving the company it’s about being professional, doing what’s right and ultimately keeping your job. Let others hold the low standards.
Yep, I’m as pissed off as the next bloke about the rostering, farming out of work, poor decisions, waste and career destruction but I’ll be more pissed off when it closes and I’m trying to get a job, sell the house and pull the kids out of school to head overseas.
Here’s another hot tip: if you hate it that much go and do something else.
By the way, Covid-19 isn’t SARS, it’s not the flu it might go away, it might not. News.com and channel 7 news are not good sources for information FYI.
(I’m neither management nor a min fuel guy!)
also calling bull**** on this, doesn’t happen...but you keep wearing your hat.
And therein lies the problem with VA (well probably most airlines actually) at the moment. Illustrated in those two posts directly above. You have a very sensible overall suggestion/idea that people should band together when literally the fate of the airline could be at stake in 2020, depending on COVID duration, and you get nitpickers and spiteful people who cant get over history.
Yes VA management have stuffed up majorly under JB but if people just arent flying - well some drastic and unpopular measures need to be taken TEMPORARILY by all. A number of suggestions on how to personally help are being discussed on the line already but there is a fear that the 10% of nutjobs who make the most noise come every EBA will try to quash the well-meaning of the masses.
Yes VA management have stuffed up majorly under JB but if people just arent flying - well some drastic and unpopular measures need to be taken TEMPORARILY by all. A number of suggestions on how to personally help are being discussed on the line already but there is a fear that the 10% of nutjobs who make the most noise come every EBA will try to quash the well-meaning of the masses.
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And therein lies the problem with VA (well probably most airlines actually) at the moment. Illustrated in those two posts directly above. You have a very sensible overall suggestion/idea that people should band together when literally the fate of the airline could be at stake in 2020, depending on COVID duration, and you get nitpickers and spiteful people who cant get over history.
Yes VA management have stuffed up majorly under JB but if people just arent flying - well some drastic and unpopular measures need to be taken TEMPORARILY by all. A number of suggestions on how to personally help are being discussed on the line already but there is a fear that the 10% of nutjobs who make the most noise come every EBA will try to quash the well-meaning of the masses.
Yes VA management have stuffed up majorly under JB but if people just arent flying - well some drastic and unpopular measures need to be taken TEMPORARILY by all. A number of suggestions on how to personally help are being discussed on the line already but there is a fear that the 10% of nutjobs who make the most noise come every EBA will try to quash the well-meaning of the masses.
We aren’t all a bunch of angry men as the other post portrayed so I am going to defend the mostly great guys that work here!
No point in getting to fired up over this stuff, we won't go broke because people didn't SE taxi enough. And the whole thing with the APU is BS most people want it off because it's about 50 decibels quieter in the flightdeck.
Anyone actually understand how we are going to meet our 2020 liabilities? Currently a Billion dollars in the red and I can't see anyone offering a bailout. Given the falling Bond returns I don't see that working either.
Anyone actually understand how we are going to meet our 2020 liabilities? Currently a Billion dollars in the red and I can't see anyone offering a bailout. Given the falling Bond returns I don't see that working either.
Last edited by non_state_actor; 9th Mar 2020 at 23:38.