Government Loan to Virgin Australia
Join Date: Jun 2010
Location: Sydney
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Frydenberg said this morning that govt won’t be bailing out, the airline has to go through all ‘commercial processes’ (ie, administration). Also said any attempted takeover by a Chinese govt owned airline will be blocked.
not sure what planet the nsw treasurer is on. Last thing VA needs is different state govts pulling on each arm trying to force them to relocate. Just another big decision for an already overwhelmed management
not sure what planet the nsw treasurer is on. Last thing VA needs is different state govts pulling on each arm trying to force them to relocate. Just another big decision for an already overwhelmed management
The states should either stump up the money condition free, or shut up. They seem to just be playing politics. They want to be seen by their constituents to be “doing something”, but never actually doing anything.
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Get back to the reality - It's an Australian ASX listed public company where shareholders won't front up with funds to keep it going. That doesn't give it any rights to preferential government funding. What don't you understand about this ??
On any view, in the current climate, Chinese government funding is just not an acceptable outcome.
On any view, in the current climate, Chinese government funding is just not an acceptable outcome.
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This isn't just targeted at Virgin and aviation, it includes any business.
no I would say outer space somewhere...Frydenberg said Chinese blocked, nsw treasurer says virgin has not been mismanaged and will possibly contribute if they relocate to badgerys creek....don’t you think VA management have enough to deal with at the moment without throwing a ‘pack up and move’ in there as well?
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I have five billion reasons that say the NSW treasurer is living in la la land.
Virgin should just get 3 head offices one WSA, Brissy and Melbourne.
Problem solved.
States are just posturing hoping someone will stump up the cash before they move. Only a fool will buy in without the debt being quarantined in some way.
Problem solved.States are just posturing hoping someone will stump up the cash before they move. Only a fool will buy in without the debt being quarantined in some way.
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VAH ASX Announcements- 20/04/20
Fitch Ratings Update: https://www.asx.com.au/asxpdf/202004...mx6h9vv5t0.pdf
Moody's Rating Update: https://www.asx.com.au/asxpdf/202004...msdqpb0fvd.pdf
Rgds
S28- BE
Moody's Rating Update: https://www.asx.com.au/asxpdf/202004...msdqpb0fvd.pdf
Rgds
S28- BE
VH-LFA - Couldn't agree more but will certainly try. Both Qld and NSW are showing themselves as needy, unrealistic and just plain stupid. The airy fairy proposals are based on so-many preconditions that they are obviously designed as a publicity stunt. Shame on them.
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Libs and Labour having a good old crack at each other. Virgin just the puppet here.
Hey, this could work out for Virgin here. Pissing contest back and forth, back and forth, Virgin will have its Billon bucks in no time!
Scurrah can just grab the popcorn, sit back relax and let his cash arrive courtesy of some ******** pollies pissing contest.
Hey, this could work out for Virgin here. Pissing contest back and forth, back and forth, Virgin will have its Billon bucks in no time!
Scurrah can just grab the popcorn, sit back relax and let his cash arrive courtesy of some ******** pollies pissing contest.
As Virgin Australia scrambles to stave off collapse, NSW and Queensland have entered a bidding war over which state will secure the airline's headquarters.
Queensland has vowed to "stop at nothing" to keep Virgin's headquarters in Brisbane and has warned the NSW government to "back right off".
Virgin Australia planes sit idle at Brisbane Airport during the pandemic.
Photo: Darren England - AAPThe NSW government has put forward a Virgin Australia rescue package - with the condition of relocating the airline's headquarters to Sydney.
On Saturday, the Queensland government offered a $200 million rescue package for the country's second national carrier - as long as its headquarters remained in Bowen Hills in Brisbane.
Queensland State Development Minister Cameron Dick said he would "fight any attempt by New South Wales to steal Virgin Australia from Queensland to Sydney".
"Back right off. Just don’t go there,” Mr Dick said.
"If the world knows one thing, it knows this: there is nothing more dangerous than Queenslanders with their backs to the wall.
"New South Wales might want to bring a pea-shooter to the fight, we will bring a bazooka and we're not afraid to use it.
“At a time when their jobs hang in the balance, the 1200 Queensland families who depend on those head office jobs should not have to face the threat of being forced to move to Sydney."
NSW Premier Gladys Berejiklian said her government was "considering all the options we have moving forward".
"At the end of the day, my government is responsible for NSW, I don't apologise for that."
Mr Dick has not ruled out pouring more money in to keep the ailing airline in Queensland.
The escalation in the bidding war comes as Queensland reported no new cases of COVID-19 on Monday for the first time since March 9.
Premier Annastacia Palaszczuk said it was an “absolutely tremendous” result and said if numbers continued to stay down for weeks, she would consider lifting restrictions.
More than 1000 Queenslanders have been infected with the virus since the state recorded its first case in late January.
About half of those people have since recovered and of those still infected, 20 patients remain in hospital, with seven of those in intensive care on ventilators.
Queensland has vowed to "stop at nothing" to keep Virgin's headquarters in Brisbane and has warned the NSW government to "back right off".
Virgin Australia planes sit idle at Brisbane Airport during the pandemic.
Photo: Darren England - AAPThe NSW government has put forward a Virgin Australia rescue package - with the condition of relocating the airline's headquarters to Sydney.
On Saturday, the Queensland government offered a $200 million rescue package for the country's second national carrier - as long as its headquarters remained in Bowen Hills in Brisbane.
Queensland State Development Minister Cameron Dick said he would "fight any attempt by New South Wales to steal Virgin Australia from Queensland to Sydney".
"Back right off. Just don’t go there,” Mr Dick said.
"If the world knows one thing, it knows this: there is nothing more dangerous than Queenslanders with their backs to the wall.
"New South Wales might want to bring a pea-shooter to the fight, we will bring a bazooka and we're not afraid to use it.
“At a time when their jobs hang in the balance, the 1200 Queensland families who depend on those head office jobs should not have to face the threat of being forced to move to Sydney."
NSW Premier Gladys Berejiklian said her government was "considering all the options we have moving forward".
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NSW coy on Virgin bailout as Victoria rejects calls for help
"If that means encouraging businesses to set up shop in NSW, if it means bringing jobs to our state, we will, of course, consider all those things," she said."At the end of the day, my government is responsible for NSW, I don't apologise for that."
Mr Dick has not ruled out pouring more money in to keep the ailing airline in Queensland.
The escalation in the bidding war comes as Queensland reported no new cases of COVID-19 on Monday for the first time since March 9.
Premier Annastacia Palaszczuk said it was an “absolutely tremendous” result and said if numbers continued to stay down for weeks, she would consider lifting restrictions.
More than 1000 Queenslanders have been infected with the virus since the state recorded its first case in late January.
About half of those people have since recovered and of those still infected, 20 patients remain in hospital, with seven of those in intensive care on ventilators.
Evertonian
They'd probably do better by offering to buy Tiger from them. All the infrastructure & HQ is in MEL already. About the right size for a "start up"... just a thought.
Join Date: Apr 2010
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Singapore should take back the Tiger AOC and rebrand it as Scooter.
A Scoot Domestic fleet with 20-30 aircraft would be sustainable, without Virgin.
Its certainly a option. Scoot is in the progress of upgrading its CEO to NEO and will have available aircraft.
They could base it in Sydney and take on a few hundred million in incentives.
Scoot is now run by Campbell again, so most certainly possible.
A Scoot Domestic fleet with 20-30 aircraft would be sustainable, without Virgin.
Its certainly a option. Scoot is in the progress of upgrading its CEO to NEO and will have available aircraft.
They could base it in Sydney and take on a few hundred million in incentives.
Scoot is now run by Campbell again, so most certainly possible.
