VA pilots worried about employment 2021
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You can bet that AJ will be leaving no stone unturned to try and stop this, without equivalent funding for Qantas.
AJ can't say one word. If he does then he is a hypocrite. Why? Their is still 3.6b remaining in the stimulus package.
AJ can't say one word. If he does then he is a hypocrite. Why? Their is still 3.6b remaining in the stimulus package.
Can I suggest that while the media are throwing out anything they can with regards VA, you'd be better off checking the ASX website for any news if you want to. Any announcements will be made simultaneously to the media and the ASX.
Join Date: Oct 2013
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There is a statement by VAH on the ASX. My take on this is that VA has been speaking to the Government confidentially and someone somewhere has leaked this to the ‘Fake’ media.
RESPONSE TO MEDIA REPORTING 31 March 2020:
Virgin Australia acknowledges reporting in The Australian today and confirms it continues to explore a range of options to manage through the COVID-19 crisis, including requesting financial support from the Australian Government in the order of $1.4bn as part of a broader industry support package to prepare for a prolonged crisis. It is a preliminary proposal and remains subject to approval by the Virgin Australia Holdings Board and the Australian Government and may or may not include conversion to equity in certain circumstances. Companies like the Virgin Australia Group are taking a range of measures to respond and manage the financial impact. However, support will be necessary for the industry if this crisis continues indefinitely, to protect jobs and ensure Australia retains a strong, competitive aviation and tourism sector once this crisis is over. Virgin Australia continues to be in compliance with its continuous disclosure obligations and will update the market as required.
ENDS This announcement was authorised for release by Virgin Australia Group Chief Executive Officer and Managing Director, Paul Scurrah.
Virgin Australia acknowledges reporting in The Australian today and confirms it continues to explore a range of options to manage through the COVID-19 crisis, including requesting financial support from the Australian Government in the order of $1.4bn as part of a broader industry support package to prepare for a prolonged crisis. It is a preliminary proposal and remains subject to approval by the Virgin Australia Holdings Board and the Australian Government and may or may not include conversion to equity in certain circumstances. Companies like the Virgin Australia Group are taking a range of measures to respond and manage the financial impact. However, support will be necessary for the industry if this crisis continues indefinitely, to protect jobs and ensure Australia retains a strong, competitive aviation and tourism sector once this crisis is over. Virgin Australia continues to be in compliance with its continuous disclosure obligations and will update the market as required.
ENDS This announcement was authorised for release by Virgin Australia Group Chief Executive Officer and Managing Director, Paul Scurrah.
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It is very interesting and uncertain times for VA. Sadly it’s endemic mismanagement has unravelled after a long time coming. Stepping back to the late 90’s there were occasions when SQ and ANZ were indeed circling Ansett’s carcass. Both airlines being foreign owned was an issue but both have Government ownership within their respective countries and both have (or had) healthy balance sheets prior to COVID-19. If VA tips over, and it will without a Government bailout, is it possible that either SQ or ANZ will set up operations in Australia? Just a thought. Some foreign ownership rules have been relaxed in Australia over the past 20 years.
If the Chinese government through HNA owns a significant part of Virgin, there is no way the Australian government should bail Virgin out.
EAG is Etihad and they are broke after failed investments in Alitalia and Air Berlin.
SIA is looking for cash to keep itself afloat.
Corvina Holdings is a Caribbean based entity - a subsidiary that ultimately has Richard Branson through a company called Grenache as a primary shareholder.
Nanshan Capital is another major Chinese group.
So there is not too much Australian about VAH at all.
EAG is Etihad and they are broke after failed investments in Alitalia and Air Berlin.
SIA is looking for cash to keep itself afloat.
Corvina Holdings is a Caribbean based entity - a subsidiary that ultimately has Richard Branson through a company called Grenache as a primary shareholder.
Nanshan Capital is another major Chinese group.
So there is not too much Australian about VAH at all.
If the Chinese government through HNA owns a significant part of Virgin, there is no way the Australian government should bail Virgin out.
EAG is Etihad and they are broke after failed investments in Alitalia and Air Berlin.
SIA is looking for cash to keep itself afloat.
Corvina Holdings is a Caribbean based entity - a subsidiary that ultimately has Richard Branson through a company called Grenache as a primary shareholder.
Nanshan Capital is another major Chinese group.
Not too much Australian about VAH at all.
EAG is Etihad and they are broke after failed investments in Alitalia and Air Berlin.
SIA is looking for cash to keep itself afloat.
Corvina Holdings is a Caribbean based entity - a subsidiary that ultimately has Richard Branson through a company called Grenache as a primary shareholder.
Nanshan Capital is another major Chinese group.
Not too much Australian about VAH at all.
If the Chinese government through HNA owns a significant part of Virgin, there is no way the Australian government should bail Virgin out.
EAG is Etihad and they are broke after failed investments in Alitalia and Air Berlin.
SIA is looking for cash to keep itself afloat.
Corvina Holdings is a Caribbean based entity - a subsidiary that ultimately has Richard Branson through a company called Grenache as a primary shareholder.
Nanshan Capital is another major Chinese group.
So there is not too much Australian about VAH at all.
EAG is Etihad and they are broke after failed investments in Alitalia and Air Berlin.
SIA is looking for cash to keep itself afloat.
Corvina Holdings is a Caribbean based entity - a subsidiary that ultimately has Richard Branson through a company called Grenache as a primary shareholder.
Nanshan Capital is another major Chinese group.
So there is not too much Australian about VAH at all.
Except for the 10,000 or so employees.Almost all Aussies.
If working for a purely Oz owned company was a criteria for applying for any job,it would be an awfully short list.
There’s a fair bit of detail being left out of the headline announcements.
PS was very clear last week in several interviews that his position was support for the whole sector,not just VA.
Also said it was better to get those kinds of mechanisms in place earlier rather than later,which is,again what he appears to be doing.
As other wiser heads above have noted,calling a halt to trading is SOP for a change deemed market sensitive.
Agree it’s not a good look though.AJ and Q media seem like they can smell blood in the water....
If working for a purely Oz owned company was a criteria for applying for any job,it would be an awfully short list.
There’s a fair bit of detail being left out of the headline announcements.
PS was very clear last week in several interviews that his position was support for the whole sector,not just VA.
Also said it was better to get those kinds of mechanisms in place earlier rather than later,which is,again what he appears to be doing.
As other wiser heads above have noted,calling a halt to trading is SOP for a change deemed market sensitive.
Agree it’s not a good look though.AJ and Q media seem like they can smell blood in the water....
It is very interesting and uncertain times for VA. Sadly it’s endemic mismanagement has unravelled after a long time coming. Stepping back to the late 90’s there were occasions when SQ and ANZ were indeed circling Ansett’s carcass. Both airlines being foreign owned was an issue but both have Government ownership within their respective countries and both have (or had) healthy balance sheets prior to COVID-19. If VA tips over, and it will without a Government bailout, is it possible that either SQ or ANZ will set up operations in Australia? Just a thought. Some foreign ownership rules have been relaxed in Australia over the past 20 years.
NZ, in my opinion, will likely be way too shy to attempt a 3rd go at the Australian market after the AN debacle (led by ego-driven Selwyn 'Borghetti' Cushing from Brierley) and their recent failed VA attempt (ended with a 'clash of the egos' between Chris Luxon and John Borghetti).
PS was very clear last week in several interviews that his position was support for the whole sector,not just VA.
He's trying to save Virgin and no one else, as is Joyce trying to save Qantas and no one else.
NZ, in my opinion, will likely be way too shy to attempt a 3rd go at the Australian market after the AN debacle (led by ego-driven Selwyn 'Borghetti' Cushing from Brierley) and their recent failed VA attempt (ended with a 'clash of the egos' between Chris Luxon and John Borghetti).
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Virgin are after a $1.4B bailout to save the jobs of 10,000 employees.
The Australian government would be far better off giving each of the 10,000 employees $140,000. At least they could use the money to get on with their lives, find other work, or move to another industry. It would certainly give each of them time to make some important decisions.
Or they could give Virgin $1.4B in an attempt to save those jobs. Think Australian Auto Manufacturing industry. How much money was thrown at propping up that industry which eventually failed anyway? Money wasted. The same would happen with Virgin, it would just delay the outcome. It would make Richard Branson and his Chinese/Singaporean/Middle East mates happy, but achieve nothing except giving these shareholders a problem to solve. That being how would they get their grubby hands on the Australian taxpayers money before Virgin Australia eventually went under.
The Australian government would be far better off giving each of the 10,000 employees $140,000. At least they could use the money to get on with their lives, find other work, or move to another industry. It would certainly give each of them time to make some important decisions.
Or they could give Virgin $1.4B in an attempt to save those jobs. Think Australian Auto Manufacturing industry. How much money was thrown at propping up that industry which eventually failed anyway? Money wasted. The same would happen with Virgin, it would just delay the outcome. It would make Richard Branson and his Chinese/Singaporean/Middle East mates happy, but achieve nothing except giving these shareholders a problem to solve. That being how would they get their grubby hands on the Australian taxpayers money before Virgin Australia eventually went under.
VAH to make TigerAir pilots 'redundant' by the end of this week (according to AFAP rep at TigerAir).
https://www.9news.com.au/national/co...d=Social-9News
https://www.9news.com.au/national/co...d=Social-9News
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Virgin are after a $1.4B bailout to save the jobs of 10,000 employees.
The Australian government would be far better off giving each of the 10,000 employees $140,000. At least they could use the money to get on with their lives, find other work, or move to another industry. It would certainly give each of them time to make some important decisions.
Or they could give Virgin $1.4B in an attempt to save those jobs. Think Australian Auto Manufacturing industry. How much money was thrown at propping up that industry which eventually failed anyway? Money wasted. The same would happen with Virgin, it would just delay the outcome. It would make Richard Branson and his Chinese/Singaporean/Middle East mates happy, but achieve nothing except giving these shareholders a problem to solve. That being how would they get their grubby hands on the Australian taxpayers money before Virgin Australia eventually went under.
The Australian government would be far better off giving each of the 10,000 employees $140,000. At least they could use the money to get on with their lives, find other work, or move to another industry. It would certainly give each of them time to make some important decisions.
Or they could give Virgin $1.4B in an attempt to save those jobs. Think Australian Auto Manufacturing industry. How much money was thrown at propping up that industry which eventually failed anyway? Money wasted. The same would happen with Virgin, it would just delay the outcome. It would make Richard Branson and his Chinese/Singaporean/Middle East mates happy, but achieve nothing except giving these shareholders a problem to solve. That being how would they get their grubby hands on the Australian taxpayers money before Virgin Australia eventually went under.
Yes, Ansett did not get any bailout. But Virgin Blue was there to fill the gap. No one is capable of filling the gap this time as globally all airlines will be wounded. And then, holistically, the industry suffers as do consumers. It's not just about 10,000 under the circumstances.