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Government Loan to Virgin Australia

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Government Loan to Virgin Australia

Old 22nd Apr 2020, 07:47
  #1001 (permalink)  
 
Join Date: Nov 2014
Location: Wangaratta
Posts: 56
Ha! I wouldn’t exactly call $200 mil a bazooka in this business.
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Old 22nd Apr 2020, 08:06
  #1002 (permalink)  
 
Join Date: May 2000
Location: mars
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shhhoosh, GG has the floor.....

Virgin then tried to take on QF in mining contracts in WA. They got some, but only the ones QF knew were duds
Really George?
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Old 22nd Apr 2020, 08:25
  #1003 (permalink)  
 
Join Date: Oct 2005
Location: Fliegensville, Gold Coast Australia
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I doubt more than 0.1% of VA's customers fly them because they hate Joyce.

Oh...thats me then.??..., We haven't flown QF since the 2011 'shutdown'....
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Old 22nd Apr 2020, 08:37
  #1004 (permalink)  
 
Join Date: Aug 2009
Location: Australia
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https://www.afr.com/companies/transp...0200421-p54ltx
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Old 22nd Apr 2020, 08:49
  #1005 (permalink)  
 
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Sir Richard ripping up a cheque for $240 million from SIA wanting to buy VB. Oh how the world changes.
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Old 22nd Apr 2020, 09:05
  #1006 (permalink)  
 
Join Date: Jan 2014
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Originally Posted by ifylofd View Post
Really George?
Its of no consequence to me if you believe me or not , but I know for a certain fact that Virgin acquired contacts by under-quoting QF to the point that they were not worth a pinch of the proverbial. That’s why they are where they are. Virgin had no corporate memory of the fact that regional aviation , RPT and Mining , has been a graveyard in every state in Australia for 40 years. The never ending search for a cheaper contractor is a sick joke. Witness the demise of Airlines of SA , MMA , Air Queensland, National Jet ,LLoyd Aviation etc. etc. Now , sadly many more will follow in their wake. Creative destruction! The free market has done its work. Services to regional Australia are worse than the were 30 years ago. Brilliant.

Last edited by George Glass; 22nd Apr 2020 at 10:04.
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Old 22nd Apr 2020, 09:37
  #1007 (permalink)  
 
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Old 22nd Apr 2020, 10:02
  #1008 (permalink)  
 
Join Date: Oct 2005
Location: Fliegensville, Gold Coast Australia
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"PS. The QLD Govt. are using Bazookas in gun fights now..."

You are aware of that saying about 'keeping your mouth closed and letting people think you are an idiot rather than opening your mouth and confirming it' right?
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Old 22nd Apr 2020, 10:27
  #1009 (permalink)  
 
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Thank God(us tax payers) that the govt held strong and didnt bail out VA. This would have been a bad signal to interfere way to much into the market and for tax payer money to be very badly spent on a risky loan to VA.
Now VA says they have 10+ buyers in the winds! So that magically happened overnight? I think Scurrah was taking the piss out of the tax payer, and quite frankly the piss out of Tigerair and VANZ staff that he just sacked on a dime.
What an arse IMHO.
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Old 22nd Apr 2020, 10:34
  #1010 (permalink)  
 
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Now VA says they have 10+ buyers in the winds! So that magically happened overnight? I think Scurrah was taking the piss out of the tax payer, and quite frankly the piss out of Tigerair and VANZ staff that he just sacked on a dime.
Yes interesting point but the "magnificent ten" are only interested now that the company is in voluntary administration, which gives the real possibility of walking away from the debt and grabbing a bargain. Only if creditors play ball of course. Also a malevolent former owner (an airline say) could make the process very difficult if they see a strategic advantage down the track.
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Old 22nd Apr 2020, 11:14
  #1011 (permalink)  
 
Join Date: Jun 2008
Location: BRISBANE
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Originally Posted by Turnleft080 View Post
Oh! JB I hope you get a good night sleep tonight you derserve it. I hope your proud of your 10 years. Hope your shiny cars are sparkling as well.
They are so much more important than my heart attack I'm about to have. But don't worry about that JB you'll be fine.
Yep, pretty much sums it up !! ( take 2 😊 )
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Old 22nd Apr 2020, 11:59
  #1012 (permalink)  
 
Join Date: Sep 2005
Location: NT
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Originally Posted by burned_out View Post
Thank God(us tax payers) that the govt held strong and didnt bail out VA. This would have been a bad signal to interfere way to much into the market and for tax payer money to be very badly spent on a risky loan to VA.
Now VA says they have 10+ buyers in the winds! So that magically happened overnight? I think Scurrah was taking the piss out of the tax payer, and quite frankly the piss out of Tigerair and VANZ staff that he just sacked on a dime.
What an arse IMHO.
what market??
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Old 22nd Apr 2020, 12:04
  #1013 (permalink)  
 
Join Date: Oct 2005
Location: Fliegensville, Gold Coast Australia
Posts: 58
Wondered where the 'True believer' had gotten to.

Lol!.. you funny bugger, guess you'll run to the Mods again now that it gets too hot for you huh?..."Oh Miss! Miss!!..Fliegenmong said..."

ha ha dobber!...get beaten up much as a kid did you buster?...pathetic..

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Old 22nd Apr 2020, 12:31
  #1014 (permalink)  
 
Join Date: Jun 2010
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Why would creditors allow someone to come in and buy it debt free when they can just liquidate the company and at least get something back? What am I missing here.
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Old 22nd Apr 2020, 12:43
  #1015 (permalink)  
 
Join Date: Sep 2005
Location: NT
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Because the whole is worth more than the sum of its parts.
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Old 22nd Apr 2020, 12:52
  #1016 (permalink)  
 
Join Date: Aug 2013
Location: europe
Posts: 6
I don't understand how PS can say there will be no redundancies. Is that not a decision the new investors/owners will make assuming they get one? He may well be first out the door.
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Old 22nd Apr 2020, 12:52
  #1017 (permalink)  
 
Join Date: Aug 2006
Location: Land of Oz
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Originally Posted by normanton View Post
What am I missing here.
Obviously a lot Norm.......
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Old 22nd Apr 2020, 13:04
  #1018 (permalink)  

Evertonian
 
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Originally Posted by Fliegenmong View Post
ha ha dobber!...get beaten up much as a kid did you buster?...pathetic..
"Dobber"...you really are 12!
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Old 22nd Apr 2020, 13:07
  #1019 (permalink)  
 
Join Date: Feb 2006
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Originally Posted by No Idea Either View Post
Obviously a lot Norm.......
The best analogy for this situation is buying a phosphate mine in Nauru with all the heavy equipment included.

You buy it for a bargain, but what is the value of the business?

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Old 23rd Apr 2020, 00:54
  #1020 (permalink)  
34R
 
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Originally Posted by inthenightgarden View Post
I don't understand how PS can say there will be no redundancies. Is that not a decision the new investors/owners will make assuming they get one? He may well be first out the door.
There will be no redundancies during administration. Assuming a new investor/investors are found, once the new entity is formed then that may no longer be the case as it moves out of administration.
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