VA pilots worried about employment 2021
Enough flying to maybe keep 80 pilots paid. Mainly intra QLD and WA. Those without any leave will be hit the hardest. I am one of those. Circumstances beyond my control have put me in that position regarding leave. Seniority wont mean anything. I for one have been in VA for 17 years. In the end it means nothing.
Those circumstances have also left us without our savings. We have at most two weeks. I was hoping to get back on track before all this started.
Not sure what to do. Hopefully the ATO will let me withdraw some money from my super from mid April................
Those circumstances have also left us without our savings. We have at most two weeks. I was hoping to get back on track before all this started.
Not sure what to do. Hopefully the ATO will let me withdraw some money from my super from mid April................
Servo. australia.gov.au then look at Government payment and services, press learn more and there it is all laid out for you. Register immediately so your payments will be backdated to the date of registration. Do not forget you can do super before 30 June and then again after 01 July. Best of luck.
Last edited by B772; 26th Mar 2020 at 10:46.
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On that note, think long and hard about drawing from your super as you are selling at the bottom of the market and it could have implications for your retirement down the road.
Sorry to hear about what’s going on at VA, have a few friends affected by this.
Has VA basically abandoned the group seniority list? Ie not furloughing from the bottom up and then displacing pilots as required?
Has VA basically abandoned the group seniority list? Ie not furloughing from the bottom up and then displacing pilots as required?
Has VA basically abandoned the group seniority list? Ie not furloughing from the bottom up and then displacing pilots as required?
Except that in the Virgin Widebody EBA there are clauses that state redundancy is to be applied with strict date of joining regardless of fleet. Both the Unions (AFAP and VIPA) are taking that position to the company. This was an issue already before the full impact of the coronavirus was apparent. I suspect it could be a moot point though, as Virgin, in its struggle to survive, could exit widebody flying altogether. A rump 737 domestic (and international as required) operation resumes hopefully without the ineptitude, duplication, and general mismanagement that seems to have characterized much of Virgin's operation over the past decade. But possibly an international and domestic widebody capability is retained to take advantage of any upswing from pent up demand.
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So they can’t essentially say, all A330s out, and all A330 pilots also?
So if DOJ its to be 777 SOs first, then probably a mix of 330 and 777 FOs. They would be removing more off the Triple compared to the Airbus.
Sounds similar to the whole Tiger setup, where they had half B/A, and Airbus goes along with its crew. Otherwise in expensive boat of having a remaining group of non type crew to retrain, assuming they dispose of the Airbus or majority of it.
In the tough times like this, I wonder if EBA clauses mean jack. They could argue its either this or the whole company’s goes under
So if DOJ its to be 777 SOs first, then probably a mix of 330 and 777 FOs. They would be removing more off the Triple compared to the Airbus.
Sounds similar to the whole Tiger setup, where they had half B/A, and Airbus goes along with its crew. Otherwise in expensive boat of having a remaining group of non type crew to retrain, assuming they dispose of the Airbus or majority of it.
In the tough times like this, I wonder if EBA clauses mean jack. They could argue its either this or the whole company’s goes under
Except that in the Virgin Widebody EBA there are clauses that state redundancy is to be applied with strict date of joining regardless of fleet. Both the Unions (AFAP and VIPA) are taking that position to the company. This was an issue already before the full impact of the coronavirus was apparent. I suspect it could be a moot point though, as Virgin, in its struggle to survive, could exit widebody flying altogether. A rump 737 domestic (and international as required) operation resumes hopefully without the ineptitude, duplication, and general mismanagement that seems to have characterized much of Virgin's operation over the past decade. But possibly an international and domestic widebody capability is retained to take advantage of any upswing from pent up demand.
Singapore Airlines
Singapore Airlines has raised $US10.5 billion through Singapore Inc, which raises the question - is a takeover of Virgin Australia on the horizon?
The early commentary has put the airline’s capital raising as more of a rescue package as airlines worldwide reel from the blow of coronavirus.
But Singapore Airlines, which has a 20 per cent stake in the Australian carrier, has of all the Virgin shareholders the most to gain from a takeover.
Nearly 20 years ago Singapore tried to buy the airline from Richard Branson, who famously ripped up the cheque and said he wouldn’t accept it.
Current Virgin boss Paul Scurrah would run straight to his local bank to deposit the cheque and start talks about how to achieve the deal.
Company sources say there have been no talks, but it may be worth keeping an eye on the two airlines.
Any deal would be subject to Foreign Investment Review Board approval, which would not necessarily be a given, but Canberra would also see a Singapore Inc injection as the best way to keep Australia’s second airline afloat.
Qantas boss Alan Joyce would no doubt wrap himself in the national flag and shout about the terms, or any cosy deals for foreign airlines.
But he too would not be overly concerned, because it would cement Qantas’s place as the national flag carrier.
The Virgin share register is a mess and chock full of troubled offshore carriers including Etihad, HNA and Nanshan who, together with Branson, control over 90 per cent of the carrier.
Former boss John Borgehtti had pushed for a privatisation, but none of the four big foreign carriers would agree, or were willing to write the cheque to buy the others.
Virgin has an equity value of just over $700 million and $5 billion in debt.
Importantly that debt has a poison pill attached which is triggered by a change of control, but only if someone from outside the airline acquires it.
This means it wouldn’t affect Singapore Airlines, but would if say KKR acquired the airline.
Virgin would be a useful feeder for the Singapore network and provide strong competition for Qantas, which would be a good thing .
https://www.theaustralian.com.au/bus...3998c3e5c44d3d
The early commentary has put the airline’s capital raising as more of a rescue package as airlines worldwide reel from the blow of coronavirus.
But Singapore Airlines, which has a 20 per cent stake in the Australian carrier, has of all the Virgin shareholders the most to gain from a takeover.
Nearly 20 years ago Singapore tried to buy the airline from Richard Branson, who famously ripped up the cheque and said he wouldn’t accept it.
Current Virgin boss Paul Scurrah would run straight to his local bank to deposit the cheque and start talks about how to achieve the deal.
Company sources say there have been no talks, but it may be worth keeping an eye on the two airlines.
Any deal would be subject to Foreign Investment Review Board approval, which would not necessarily be a given, but Canberra would also see a Singapore Inc injection as the best way to keep Australia’s second airline afloat.
Qantas boss Alan Joyce would no doubt wrap himself in the national flag and shout about the terms, or any cosy deals for foreign airlines.
But he too would not be overly concerned, because it would cement Qantas’s place as the national flag carrier.
The Virgin share register is a mess and chock full of troubled offshore carriers including Etihad, HNA and Nanshan who, together with Branson, control over 90 per cent of the carrier.
Former boss John Borgehtti had pushed for a privatisation, but none of the four big foreign carriers would agree, or were willing to write the cheque to buy the others.
Virgin has an equity value of just over $700 million and $5 billion in debt.
Importantly that debt has a poison pill attached which is triggered by a change of control, but only if someone from outside the airline acquires it.
This means it wouldn’t affect Singapore Airlines, but would if say KKR acquired the airline.
Virgin would be a useful feeder for the Singapore network and provide strong competition for Qantas, which would be a good thing .
https://www.theaustralian.com.au/bus...3998c3e5c44d3d
^ Now where did we hear this "story" before? Article no #32132173827391273 on a SQ 'takeover'.
As usual, the 'SQ takeover' article is 'Fake News' as always. The bailout money SQ had just raised is to keep themselves and their wholly owned subsidiaries (Silkair and Scoot) afloat during the C-19 crisis.
Not invest in other carriers.
As usual, the 'SQ takeover' article is 'Fake News' as always. The bailout money SQ had just raised is to keep themselves and their wholly owned subsidiaries (Silkair and Scoot) afloat during the C-19 crisis.
Not invest in other carriers.
As usual, the 'SQ takeover' article is 'Fake News' as always. The bailout money SQ had just raised is to keep themselves and their wholly owned subsidiaries (Silkair and Scoot) afloat during the C-19 crisis.
Not invest in other carriers.
Not invest in other carriers.
The bailout money SQ have raised from their government owned parent are likely to come with terms and conditions to keep themselves (and their subsidiaries) afloat, not expand into other businesses.
If other parties are that desperate to sell and there are no buyers, (Let's face it HNA has been trying to off-load their stake for months and there's been no serious buyer). Chances are that VA has no choice but to file administration instead.
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SQ won't be interested.
The bailout money SQ have raised from their government owned parent are likely to come with terms and conditions to keep themselves (and their subsidiaries) afloat, not expand into other businesses.
If other parties are that desperate to sell and there are no buyers, (Let's face it HNA has been trying to off-load their stake for months and there's been no serious buyer). Chances are that VA has no choice but to file administration instead.
The bailout money SQ have raised from their government owned parent are likely to come with terms and conditions to keep themselves (and their subsidiaries) afloat, not expand into other businesses.
If other parties are that desperate to sell and there are no buyers, (Let's face it HNA has been trying to off-load their stake for months and there's been no serious buyer). Chances are that VA has no choice but to file administration instead.
employed, but that means removing excess layers of mangement and their obscene pay structures. It may also mean having a Government representative on the Board ensuring Governance is maintained. No more personal piggy bank. A similar tailored approach to QF may also need to be considered if QF wish for equal treatment. It’s about putting people, employment and economic recovery first while shelving shares, profit gouging, executive salaries and having an incompetent Board and executive team.
Could one option for VA be for the Government to kick in some dollars but with some strict rules attached which would include scaling down executive salaries and removal of share options and bonuses
Honest question, can anyone confirm if the entire board has increased their payout beyond the stated 15%?
I am reading QF has reduced by 100% until June 30.
It would be a hard sell to expect 8000-10000 employees to take a massive hit, yet the board retains 85% of their pay?
Lead by example - if they don’t help out, everyone may end up with 100% of $0
I am reading QF has reduced by 100% until June 30.
It would be a hard sell to expect 8000-10000 employees to take a massive hit, yet the board retains 85% of their pay?
Lead by example - if they don’t help out, everyone may end up with 100% of $0