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VA pilots worried about employment 2021

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VA pilots worried about employment 2021

Old 27th Mar 2020, 10:11
  #621 (permalink)  
 
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Correct - There is no way SQ could take this on with the associated debt and corporate millstones that "own" VAH. SQ needs these funds for the primary corporate entity to survive
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Old 27th Mar 2020, 10:16
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First they came for the socialists, and I did not speak out—
Because I was not a socialist.

Then they came for the trade unionists, and I did not speak out—
Because I was not a trade unionist.

Then they came for the Jews, and I did not speak out—
Because I was not a Jew.

Then they came for me—and there was no one left to speak for me.

So instead of plotting each other’s demise. How about you stick together. It’s absolutely horrendous what has happened to the Tiger pilots. There should be every courtesy extended to them. And you should all be willing to to bring them onboard when this is done

There are many ways to manage this. Shared rosters/lines. Stand down with intent to rehire in the future. Re hire guarantees etc etc.

It’ll be the widebody guys next. A RIN on the 737. It’s not just you either. It’s all of us.

It’s like a bull thundering across a paddock. Right at you. It’ll take balls of steel for CEOs to stare down BIG shareholders and retain staff, when the stock market wants a quick sugar hit and the institutional investors make or lose millions when stocks move a few percentile.

So stand by your mates. Job share, roster on roster off. Welcome the widebody guys back to the fold if you have to. Do what you can. Do it together.

It’s coming for all of us. And I speak with a red tail and a dirty white hat. It’s coming for us too
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Old 27th Mar 2020, 10:35
  #623 (permalink)  
 
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Originally Posted by davidclarke
Why would Singapore want to take on 5billion in Debt? It would make no financial sense in the current climate to buy into a debt ridden airline.
Precisely. The bailout money for SQ is to ensure that the main SQ operation (and their subsidiary companies) survive.

The SG taxpayers won't be happy if their bailout funds are used elsewhere to prop up foreign operators, especially one with a $5B debt.
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Old 27th Mar 2020, 21:16
  #624 (permalink)  
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The SIA fundraising is being underwritten by the airline’s biggest investor, state-owned Temasek Holdings, which owns about 55% of the group. If their biggest investor wants to buy VA, then they will.
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Old 27th Mar 2020, 23:24
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Originally Posted by ABP
The SIA fundraising is being underwritten by the airline’s biggest investor, state-owned Temasek Holdings, which owns about 55% of the group. If their biggest investor wants to buy VA, then they will.
We've heard the "SQ to take over VA"!!!!!!111!!!! fake news articles 2737458227 times before in the past 5 years.

The fundraising by their state owned parent is for SQ and SQ alone.

If any higher ups in SQ are still interested in the Australian market in general, there's a better chance of them waiting for VA to file administration and then pick up VA's assets (737s) at a liquidation fire sale to start a new company without the $5B debt VA has.
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Old 27th Mar 2020, 23:30
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Originally Posted by DanV2
We've heard the "SQ to take over VA"!!!!!!111!!!! fake news articles 2737458227 times before in the past 5 years.

The fundraising by their state owned parent is for SQ and SQ alone.

If any higher ups in SQ are still interested in the Australian market in general, there's a better chance of them waiting for VA to file administration and then pick up VA's assets (737s) at a liquidation fire sale to start a new company without the $5B debt VA has.
Not knowing much about Singaporean management when it comes to airlines, IF it happens, how much of a rude shock are we all in for?
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Old 27th Mar 2020, 23:31
  #627 (permalink)  
 
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Originally Posted by DanV2
We've heard the "SQ to take over VA"!!!!!!111!!!! fake news articles 2737458227 times before in the past 5 years.

The fundraising by their state owned parent is for SQ and SQ alone.

If any higher ups in SQ are still interested in the Australian market in general, there's a better chance of them waiting for VA to file administration and then pick up VA's assets (737s) at a liquidation fire sale to start a new company without the $5B debt VA has.

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Old 27th Mar 2020, 23:34
  #628 (permalink)  
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Originally Posted by DanV2
We've heard the "SQ to take over VA"!!!!!!111!!!! fake news articles 2737458227 times before in the past 5 years.

The fundraising by their state owned parent is for SQ and SQ alone.

If any higher ups in SQ are still interested in the Australian market in general, there's a better chance of them waiting for VA to file administration and then pick up VA's assets (737s) at a liquidation fire sale to start a new company without the $5B debt VA has.
I never said they will mate. I said if they wanted to, they can, as there is no restriction with the money they've recently acquired.
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Old 28th Mar 2020, 00:02
  #629 (permalink)  
 
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I wonder if the VANZ and TT guys and girls will be at an "advantage". I am not trying to be insensitive.

I hope they all get their annual leave owing paid out, then their entitlements (16 weeks - possibly) for being made redundant. Will give them some cash over the next few months, hopefully where this sorts itself out and the company will need them back.

They might get something, where if it all falls over, those remaining will get absolutely nothing. As we know the administrators get first pickings (along with execs of course). There will be nothing left for those on LWOP.

Either way you look at it, it sure is a s$%t show.
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Old 28th Mar 2020, 01:14
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Old 28th Mar 2020, 02:01
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Originally Posted by Dookie on Drums

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Old 28th Mar 2020, 04:40
  #632 (permalink)  
 
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SQ don’t like distressed businesses. They desperately wanted Ansett, and offered $500m for half of it, but the Kiwi’s blocked them.

Once it fell over they could have bought it for $1.......they declined.

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Old 28th Mar 2020, 04:51
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Old 28th Mar 2020, 05:19
  #634 (permalink)  
 
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They might get something, where if it all falls over, those remaining will get absolutely nothing. As we know the administrators get first pickings (along with execs of course). There will be nothing left for those on LWOP.


Not really the case anymore.

https://www.ag.gov.au/industrial-rel...s/default.aspx

Might be a good idea for VA employees to read the linked page.

The administrators certainly do not get first pickings, nor the execs.

Last edited by Icarus2001; 28th Mar 2020 at 05:30.
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Old 28th Mar 2020, 07:00
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Originally Posted by Icarus2001

Not really the case anymore.

https://www.ag.gov.au/industrial-rel...s/default.aspx

Might be a good idea for VA employees to read the linked page.

The administrators certainly do not get first pickings, nor the execs.
Thanks Icarus2001. I didnt now about that. At least there is something, should it happen. Appreciate you posting that up so all can read. Cheers
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Old 28th Mar 2020, 07:12
  #636 (permalink)  
 
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Originally Posted by Servo
Thanks Icarus2001. I didnt now about that. At least there is something, should it happen. Appreciate you posting that up so all can read. Cheers
Well even if the executives received not a dime it doesn’t matter because they have stored up plenty of sheckles over the preceding years. $100m in total just for the little Irish toad, so he will be fine. But be careful Alan, millions of suddenly unemployed people during a depression will do lots of things out of the normal to ensure they have a meal in their families stomachs.

Hope all of those hoarders and peeps with panic rooms filled with food have them well hidden!

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Old 28th Mar 2020, 08:03
  #637 (permalink)  
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Originally Posted by Paragraph377
Well even if the executives received not a dime it doesn’t matter because they have stored up plenty of sheckles over the preceding years. $100m in total just for the little Irish toad, so he will be fine. But be careful Alan, millions of suddenly unemployed people during a depression will do lots of things out of the normal to ensure they have a meal in their families stomachs.

Hope all of those hoarders and peeps with panic rooms filled with food have them well hidden!
I also believe in Unicorns.

We as pilots are not in a position to change the actions of Management nor control their renumeration.
Your just getting nasty with your posts, let it go mate. Your the lucky one
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Old 28th Mar 2020, 20:04
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Originally Posted by Paragraph377
, you probably also believe the aviation industry will be normal in 3 months as if nothing ever happenned!
You would be surprised how many people believe this.
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Old 28th Mar 2020, 22:19
  #639 (permalink)  
 
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Originally Posted by -41
We as pilots are not in a position to change the actions of Management nor control their renumeration.
Thinking out loud, how many shareholders does QF have? If every employee own a small parcel, than wouldn't 30k odd votes at the AGM would potentially be able to sway the remuneration of the board and the execs?
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Old 28th Mar 2020, 23:33
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Thinking out loud, how many shareholders does QF have? If every employee own a small parcel, than wouldn't 30k odd votes at the AGM would potentially be able to sway the remuneration of the board and the execs?
Not even close!!! Along with about a hundred other pilots (all resplendent in our red ties), I attended the QF AGM the day before Joyce shutdown the airline in 2011. At the time, James Strong was the director responsible for the Executive Remuneration part of proceedings. When it came time to vote on the bonuses for each executive, we were first shown the proxie votes (for the stock held by investment managers, hedge funds, super funds and the like) which were usually about 95% in favour. Although the mood of the meeting itself was quite hostile, the vote from the attendees achieved diddly squat. Joyce achieved the lowest overall approval for his bonus - about 92% in favour, if I remember correctly. The corporate sycophants and narcissists seated in the front row applauded enthusiastically at the result.

The world is clearly run by the one percent for the one percent, and my experience that day both confirmed this perception and revealed the AGM process for the farce that it is. After the vote on Joyce's bonus, many pilots walked out of the meeting. As they left the room, Joyce had this strange smirk on his face. The next afternoon I knew exactly what that expression meant. It's very sad that, as I've watched the QF share price drop over these last weeks, my most prominent feeling is one of satisfaction that the shareholding of Alan Joyce Pty Ltd is not worth half as much now as it was at the beginning of the year. It's certainly not shaping up to be the triumphant Centenary Year that he had imagined for himself.

Now back to the VA theme of the thread.

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