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Government Loan to Virgin Australia

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Government Loan to Virgin Australia

Old 2nd Apr 2020, 07:34
  #21 (permalink)  
 
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Good to see GFI (grinning f.. idiot) eventually appears.
But wait no young things in bikinis and where is idiotís dress?
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Old 2nd Apr 2020, 07:43
  #22 (permalink)  
 
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Brings back some memories doesn't it.
Sure does. Glad I've still got the birthday DVD's from years gone by. Ahhhh those hangar parties....happy memories. Still got a few of the Christmas pressies also.
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Old 2nd Apr 2020, 07:47
  #23 (permalink)  
 
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Originally Posted by markontop View Post
Good to see GFI (grinning f.. idiot) eventually appears.
But wait no young things in bikinis and where is idiotís dress?
He is a thoroughly unlikeable person
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Old 2nd Apr 2020, 07:58
  #24 (permalink)  
 
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Originally Posted by Anti Skid On View Post
He is a thoroughly unlikeable person
I remember he came onto the flight deck one day before push back... a limp, weak handshake. Says it all.
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Old 2nd Apr 2020, 08:08
  #25 (permalink)  
 
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The bearded burbler or Benny Hill with a beard?
Can’t decide.
The best irony is the politically correct press lining up to sing his praises.
Free tickets or blatant hypocrisy. (Can’t fault the Age here)
Another chapter in “Branson the unauthorised biography” is due.
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Old 2nd Apr 2020, 08:15
  #26 (permalink)  
 
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Originally Posted by Anti Skid On View Post
Do their losses stem from specific areas of the business? Does the domestic SH do better than the long haul market? What about the Trans Tasman and PI flights? VA are my preferred carrier on Trans Tasman, Free baggage and meals and better seat pitch than Jetstar, and a similar price, cheaper than QF and NZ.
Worthy of an Order of Australia.
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Old 2nd Apr 2020, 08:28
  #27 (permalink)  
 
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Originally Posted by Anti Skid On View Post
He is a thoroughly unlikeable person
The business world is chock-a-block full of unlikeable and dysfunctional people with no empathy or symapthy.
Not so with Sir Dick, he has done everything to make himself loved, in turn his staff have made him squazillions.
He's made his $$$$$$$$$ but when did he last publicly discuss his not so flash ventures.
Not deliberately trying to be negative, but who remembers Virgin Cola, Virgin America, Virgin Trains, Virgin Lotteries or Virgin Megastores to name a few?

Curiously for a fella that knows business why has he been content to allow VA to continue making losses year in and year out.
He's obviously outvoted by the Chinese, Singaporean and Middle Eastern partners, so I can only assume it must be a tax dodge?? For the others too??
We know he loves to party, but wouldn't it be great if he came out and spoke seriously about what they intend to do to fix all their woes?
They're playing with Aussies livelihoods here, no fun in that!

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Old 2nd Apr 2020, 08:42
  #28 (permalink)  
 
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He made his money and he has gone. Please don’t get misty eyed. This is what he does - repeatedly. Arrives with all glitz, glamour and sequins then sells.
Weren’t VB staff promised holidays?
Where is that other luminary B Godfrey?
Still following in the white knight’s footsteps?
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Old 2nd Apr 2020, 08:48
  #29 (permalink)  
 
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Originally Posted by markontop View Post
He made his money and he has gone. Please donít get misty eyed. This is what he does - repeatedly. Arrives with all glitz, glamour and sequins then sells.
Werenít VB staff promised holidays?
Where is that other luminary B Godfrey?
Still following in the white knightís footsteps?

Correct observation. Study the Branson business model and you will find a trail of V branded failures "after" RB has cashed out and kept minimum exposure. Remember Virgin Atlantic went ti%ts up big time once before and was bailed by SQ.

He runs like the Dali Lama with followers ogling his life style [no disrespect to His Highness]...
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Old 2nd Apr 2020, 09:02
  #30 (permalink)  
 
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RampDog. Who could forget Virgin Bride.
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Old 2nd Apr 2020, 09:19
  #31 (permalink)  
 
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He blamed that failure on the realisation that there weren't too many Virgin brides, haha.
The promotional photos would have scared the rest off.....



What about Virgin Interactive, Virgin Pulse and Virgin Digital, flops too.
There's a whole generation out there that couldn't care less about Branson or the Virgin brand, they're looking for the "next big thing"
Time to re-brand, save millions on franchise fees and start afresh. Paul are you reading this??
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Old 2nd Apr 2020, 09:24
  #32 (permalink)  
 
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To play the devils advocate it must be asked is this really that much of Bransons fault?
As far I can tell he contributed to the start up, largley cashed out, and was presumably not involved involved in the running of the company.

I dont know enough about the other enterprises mentioned, but if his game is to start a business and largley cash out and hand over the running to someone else, is he really that responsible for the float or flop outcome?

I think responsibility lies with historical management, not particular shareholders in the case of VA
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Old 2nd Apr 2020, 09:33
  #33 (permalink)  
 
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Too true, Branson is not the Messiah, he's just a naughty boy! He's a distraction from the real issue.
The majority stakeholders not coming up with a better plan to cut the losses or stumping up today to rescue the business.
C'mon Hainan, Nashan, SQ, EY, there are thousands of jobs on the line...... wait a minute who was that at the back of the room who said "tough t!tties, Aussie"?

Last edited by RampDog; 2nd Apr 2020 at 10:28. Reason: corrected error re: stakeholders. No EK shareholding
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Old 2nd Apr 2020, 09:34
  #34 (permalink)  
 
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He wants his brand on the tail.
Therefore he chooses to be associated with it. Can’t have it both ways.
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Old 2nd Apr 2020, 09:42
  #35 (permalink)  
 
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Originally Posted by Lapon View Post
To play the devils advocate it must be asked is this really that much of Bransons fault?
As far I can tell he contributed to the start up, largley cashed out, and was presumably not involved involved in the running of the company.

I dont know enough about the other enterprises mentioned, but if his game is to start a business and largley cash out and hand over the running to someone else, is he really that responsible for the float or flop outcome?

I think responsibility lies with historical management, not particular shareholders in the case of VA
The guy is all bells and whistles, but your right, his decision making in the current business was essentially zero. He was wheeled out for route launches in dragons and appeared coming out of baggage belts. Thatís about it.

Singapore and Etihad need to bail the thing out. They were both as bad as each other with the tinkering and capex plans. Well, they were the ones pumping the cash in after all, so rightly so. Hogan was then moved on so that relationship and money stream dried up. Singapore got distracted with its own ventures.

He could have saved Virgin America with some cash of his own dollars to keep it as it was albeit not under Alaska, but no dice.

Its no different here. His got his cash and gone. Same with RyanAsia. They made a lot of cash selling out of Tiger and have gone.
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Old 2nd Apr 2020, 09:42
  #36 (permalink)  
 
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Originally Posted by RampDog View Post
The majority stakeholders not coming up with a better plan to cut the losses or stumping up today to rescue the business.
C'mon Hainan, Nashan, SQ, EK, EY, there are thousands of jobs on the line...... wait a minute who was that at the back of the room who said "tough t!tties, Aussie"?
The current shareholders are perhaps broke themselves due to the pandemic and are busy saving their own asses?

HNA (Hainan) has already been basically taken over by the Chinese Government under bankruptcy and will not likely be a shareholder for much longer.
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Old 2nd Apr 2020, 09:59
  #37 (permalink)  
 
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Originally Posted by DanV2 View Post
The current shareholders are perhaps broke themselves due to the pandemic and are busy saving their own asses?

HNA (Hainan) has already been basically taken over by the Chinese Government under bankruptcy and will not likely be a shareholder for much longer.
Be very interesting to see how the numbers of Chinese travelling LH pans out after COVID-19. How will the vast fleets that have grown within China Southern survive?
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Old 2nd Apr 2020, 10:02
  #38 (permalink)  
 
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Interesting how 10 years of multi million dollar losses went unchecked by all the various bodies and now after the Government a. Leaves the borders open too long and b. Grounds the entire country, it suddenly becomes an issue.

Where is the mention of the man, board and chair people involved of the last decade? Not one mention. Itís incredible.

How would the government go if the tax payer just switched off paying tax overnight? Probably not too well. Afterall they havenít exactly managed our money that well have they. Pot call kettle black me thinks.

Whats also been completely ignored is that Paul Scurrah has been working behind the scenes cleaning up the mess and indeed making some massive calls that have never been made in the history of Virgin (Vanz/Tiger Pilot redundancies). Hardly light hearted stuff.

So clearly the company is moving in the right direction but hey if you work under a government that ignores all the warning signs for eight weeks straight then haphazardly ground the country then the request for help shouldnít be a surprise then should it?

Meanwhile the frontline staff and their families just sing from the song sheet and in the end will just get fricken speared while all the executives parachute into other roles.

Close it up go on. Get Ryanair or Air Asia in see how you like those boats.
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Old 2nd Apr 2020, 10:18
  #39 (permalink)  
 
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In the Brave New World, I foresee Air New Zealand becoming the domestic carrier to fill the defunct VA's shoes (slots?)
They will buy out Tiger for $1.00, making them instant Aussies.
Hey it's a rumour network after all.....
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Old 2nd Apr 2020, 10:30
  #40 (permalink)  
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Tiger would come with debt
VA comes with debt
VARA comes with debt

unfortunately it looks like no one will buy Virgin group with Billions of debt, not to mention the existing shareholder mix is toxic.



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