Alan vs VA
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If Allen gets that $4.1 billion here’s how I think he’ll spend it:
1. Spend 500m on 4 A350s. Despite having been in service for several years, label them “game changers”.
2. Slash 5000 jobs as part of “game changing” transformation program to recover from covid-19. 500m.
3. Engage in “game changing” $3 billion share buyback to jack up share price.
4. Pay himself “game changing” 100m executive bonus for saving the company.
5. In one final kick in the balls to the pilots, retire and appoint Tino CEO and Nathan Safe Chief pilot. Priceless.
1. Spend 500m on 4 A350s. Despite having been in service for several years, label them “game changers”.
2. Slash 5000 jobs as part of “game changing” transformation program to recover from covid-19. 500m.
3. Engage in “game changing” $3 billion share buyback to jack up share price.
4. Pay himself “game changing” 100m executive bonus for saving the company.
5. In one final kick in the balls to the pilots, retire and appoint Tino CEO and Nathan Safe Chief pilot. Priceless.
There is a big difference between urging strong competitors like Banks and supermarkets to co-operate and propping up businesses which were in a perilous state BEFORE Coronavirus. COVID19 should not be an excuse to save failed businesses any more than it should be an excuse for an unregulated monopoly.
The shareholders of VA have allowed their business to be mismanaged to the point where it is today. I have no sympathy for them.
I have enormous sympathy for the 10,000 staff who will suffer as a result of their lack of leadership. This is where the anger should be directed.
As a taxpayer, I would be appalled to see Branson, who already profiteered enormously from VirginBlue (to the detriment of yours and my superannuation), be supported by the Australian Government. Same goes for the rest of the shareholders.
The Government need a solution which minimises job losses, preserves entitlements and avoids propping up failed investments by foreign billionaires and airlines.
Time for leadership
The shareholders of VA have allowed their business to be mismanaged to the point where it is today. I have no sympathy for them.
I have enormous sympathy for the 10,000 staff who will suffer as a result of their lack of leadership. This is where the anger should be directed.
As a taxpayer, I would be appalled to see Branson, who already profiteered enormously from VirginBlue (to the detriment of yours and my superannuation), be supported by the Australian Government. Same goes for the rest of the shareholders.
The Government need a solution which minimises job losses, preserves entitlements and avoids propping up failed investments by foreign billionaires and airlines.
Time for leadership
A loudmouthed, BS artist... I remember him dancing on the grave of AN and also having the gall to stand up and make out the industry was nothing before he came and saved us.
His Oz outfit probably had some sort of basic profitability but was never a superstar of the business world until 2010 and then it was "We are the Borgh, you will be assimilated, your culture and your finances (and your J class cabin) will adapt to service me, resistance is futile" and thus it began, the downward slide.
Love Qantas or hate it, agree with the management decisions or the management or not, it makes a profit and Virgin don't. I wish there was a way we could save the staff but let the rest collapse... maybe pick another successful airline like Alliance and offer them the $1.4bn or even $2b and the staff and provide tax breaks for them to become the 'other' carrier. They could get the VA fleet or what they wanted of it, for $1 when the staff are safely ensconced at QQ.
Oops... did I misspell Borg LOL... (apologies to Gene Roddenberry)...
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The same Branson who is being castigated from the UK House of Commons to the High Street in the UK at the moment for refusing to pay his stood down (without pay apparently) Virgin Atlantic staff even though some enterprising chap has worked out that the interest on his fortune in just 6 months would accrue more than what it would take to pay them their full wage.
A loudmouthed, BS artist... I remember him dancing on the grave of AN and also having the gall to stand up and make out the industry was nothing before he came and saved us.
His Oz outfit probably had some sort of basic profitability but was never a superstar of the business world until 2010 and then it was "We are the Borgh, you will be assimilated, your culture and your finances (and your J class cabin) will adapt to service me, resistance is futile" and thus it began, the downward slide.
Love Qantas or hate it, agree with the management decisions or the management or not, it makes a profit and Virgin don't. I wish there was a way we could save the staff but let the rest collapse... maybe pick another successful airline like Alliance and offer them the $1.4bn or even $2b and the staff and provide tax breaks for them to become the 'other' carrier. They could get the VA fleet or what they wanted of it, for $1 when the staff are safely ensconced at QQ.
Oops... did I misspell Borg LOL... (apologies to Gene Roddenberry)...
A loudmouthed, BS artist... I remember him dancing on the grave of AN and also having the gall to stand up and make out the industry was nothing before he came and saved us.
His Oz outfit probably had some sort of basic profitability but was never a superstar of the business world until 2010 and then it was "We are the Borgh, you will be assimilated, your culture and your finances (and your J class cabin) will adapt to service me, resistance is futile" and thus it began, the downward slide.
Love Qantas or hate it, agree with the management decisions or the management or not, it makes a profit and Virgin don't. I wish there was a way we could save the staff but let the rest collapse... maybe pick another successful airline like Alliance and offer them the $1.4bn or even $2b and the staff and provide tax breaks for them to become the 'other' carrier. They could get the VA fleet or what they wanted of it, for $1 when the staff are safely ensconced at QQ.
Oops... did I misspell Borg LOL... (apologies to Gene Roddenberry)...
in one of his media grabbing interviews he said ‘Australia has been held ransom to two airlines for to long’ and he was here to shake things up a bit, have some fun along the way and relieve us poor convicts of the terrible AN/QF duopoly.
Yeah right. So ok arsewipe, put your money where your ego is and come and step in again with some money to ensure that Australia doesn’t end up with a one airline monopoly...... oh the silence. Sir Richard are you there? Perhaps he is hiding in a bunker deep within the bowels of Necker Island? The fool.
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Our corrupt Govt giving billions to QF would be like giving money to the grubby Red Cross, not all of the money reaches its target, the people who make the likes of the Leprechaun filthy rich, the workers at the coal face!
Big business runs this country, they operate our Govt like puppets!
Big business runs this country, they operate our Govt like puppets!
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If there is to be any form of assistance given to any of the Airlines, it should be in the form of temporary and limited. The idea that any of them should get billions and if they cant pay it back in 2-3 years, it becomes an equity stake is ludicrous. If Virgin fails it will because of unwillingness by the stakeholders to inject funds and poor management. I feel for the staff however, there will be another entity to fill the void eventually.
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I view it more as a continuous rolling series of hostage taking scenarios. They keep holding staff and customers to ransom, just give us the money or the staff gets it. Been going on for quite a while now.
A very plausible scenario is that Branson will lose all his airlines.
The Government is on the record today that there will be no bailout. They are suggesting in the AFR, that Ryanair of all people is keen to pick the carcass of VA if it were to fail. I think they might want to be careful what they wish for. Michael O'Leary will be a thorn in their side if he gets a foothold in Australia.
The Government is on the record today that there will be no bailout. They are suggesting in the AFR, that Ryanair of all people is keen to pick the carcass of VA if it were to fail. I think they might want to be careful what they wish for. Michael O'Leary will be a thorn in their side if he gets a foothold in Australia.
so that’s off the record then on the record would involve a quote and a name.
Branson has gone all woke and will probably be glad that he is no longer responsible for increasing Global Warming. He'll just retire in the Caribbean with who knows how many Billions in tax havens.
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They have already played in the market, and in Singapore via Tiger.
Declan Ryan was a regular here in Melbourne and Singapore telling the peeps how he wanted the pussycat run.
Young Jack Ryan even had a aircraft named after him VH-FJR. Tiger now Scoots code is TR ie ‘Tony Ryan’. I don’t know how much more Ryanair you can get!
Last edited by wheels_down; 2nd Apr 2020 at 02:04.