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Government Loan to Virgin Australia

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Government Loan to Virgin Australia

Old 24th Apr 2020, 03:16
  #1061 (permalink)  
 
Join Date: Jun 2018
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Originally Posted by Section28- BE View Post
ABC article on the ASX today link: https://www.abc.net.au/news/2020-04-...oints/12180628

Extract here:


Rgds
S28- BE
So that's now around 2 billion more debt than the previous estimate?
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Old 24th Apr 2020, 03:17
  #1062 (permalink)  
 
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Virgin's administrator, Deloitte, said the company owed $6.9 billion
That's almost 40% more than the publically canvassed figure of $ 5 billion and is an awful lot of debt to manage through a voluntary administration.
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Old 24th Apr 2020, 03:31
  #1063 (permalink)  
 
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$6.8 Billion after initial review. Expected to rise significantly.
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Old 24th Apr 2020, 03:42
  #1064 (permalink)  
-41
 
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Is there a credible ASX link to the $6.8 B referenced here?
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Old 24th Apr 2020, 03:47
  #1065 (permalink)  
 
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Originally Posted by -41 View Post
Is there a credible ASX link to the $6.8 B referenced here?
https://www.afr.com/companies/transp...0200424-p54mtv
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Old 24th Apr 2020, 03:58
  #1066 (permalink)  
 
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$450M employee entitlements. Does this figure assume redundancy provisions? Itís around 50k per employee.
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Old 24th Apr 2020, 03:59
  #1067 (permalink)  
 
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It will be very difficult to manage this through a restructure, given the true debt level may rise above $7 billion. Unless there is some very creative thinking about solutions, that would make receivership almost unavoidable.
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Old 24th Apr 2020, 04:06
  #1068 (permalink)  
-41
 
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$7Billion is a long way from $5Billion this is looking terminal under the current conditions.
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Old 24th Apr 2020, 04:24
  #1069 (permalink)  
 
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Wow, last week we were told the debt was $4.8B, now we are told it is $6.9B. We know Scurrah asked the taxpayers for $1.4B. Now we learn there were a total of 9 requests. He kept watering the $1.4B amount down after being continually rejected until his last request was for $200M. WTF !

Just to prove Scurrah did not have a clue about the Virgin dilemma he stood in front of staff on 06/11/19 saying things such as we run a strong airline. The reality being not only were the liabilities much greater than the assets but the total annual revenue was less than the debt. Scurrah even purchased VA shares and bonds in November 2019. He must have been tempted by the unsecured 8% per annum.

I now understand the number of interested parties has dwindled in numbers.

Last edited by B772; 24th Apr 2020 at 04:56.
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Old 24th Apr 2020, 05:10
  #1070 (permalink)  
 
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Originally Posted by Turnleft080 View Post
Add to the list WHO and pharmaceutical companies. They are married together. Drugs are designed to maintain your illness. If they were designed to cure you they would all go broke.
i.e. drugs suppress your immune system your saviour to defeating all bad bacteria and viruses. If people realised this the
only reason you would need to go to hospital is for lacerations and broken bones. Your body heals the rest. Why are we the sickest species still on this planet?
The healthiest is our wild animals. When was the last time a giraffe, hippo, tiger, or lion ate junk food and dropped in to the local chemist to lower their high blood pressure or cholesterol.
They use the planet resources to have a healthy life so should we. Sorry getting angry frustrated back to saving an airline which we will.
ďAnd the 2020 Darwin Award goes to...............Ē
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Old 24th Apr 2020, 06:45
  #1071 (permalink)  
 
Join Date: Jul 2016
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I never have liked this weasel.

Perhaps he he should listen to his own loud mouthed advice!

https://www.thelondoneconomic.com/bu...support/21/04/


bloody parasite!
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Old 24th Apr 2020, 07:42
  #1072 (permalink)  
 
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Perth making sure Deloitte isn't forgetting them

Dramatic twist in the collapse of Virgin Australia as bulldozers and trucks are used to block planes from taking off until their debts are repaid

Last edited by kingRB; 24th Apr 2020 at 08:05.
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Old 24th Apr 2020, 07:50
  #1073 (permalink)  
 
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Ed Bastian the head of Delta and the 49% owner of Virgin Atlantic has turned down a request by Virgin Atlantic for a capital injection. He went on to say he expects Virgin Atlantic to be placed under administration shortly. As Richard Branson is loathed by the establishment in the U.K Virgin Atlantic may find it difficult to raise funds in their own name.
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Old 24th Apr 2020, 08:21
  #1074 (permalink)  
 
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Thatís full on Perth airport doing that 3 737s should cover the fees owed, just shows everyone is being affected by this.
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Old 24th Apr 2020, 08:42
  #1075 (permalink)  
 
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Perth Airport website shows the long term aircraft storage parking cost is $473.425 per day. For 3 a/c this is over $43,460 per month. The total cost for the fleet would be considerable.
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Old 24th Apr 2020, 08:45
  #1076 (permalink)  
 
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Rancid parking inspectors!
Parasites.
Man, I hate those guys!
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Old 24th Apr 2020, 10:21
  #1077 (permalink)  
 
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Perhaps someone should tell Perth Airport to put the loader behind the plane. One would imagine the terminal building is a far more substantial obstruction to it departing fowards....

"Four planes are being blocked by airport vehicles to stop a towbar from being attached to them." Nothing at all stopping Virgin hooking one of those you-beaut remote controlled towbars on the main gear though...
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Old 24th Apr 2020, 10:25
  #1078 (permalink)  
 
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Originally Posted by KRviator View Post
Perhaps someone should tell Perth Airport to put the loader behind the plane. One would imagine the terminal building is a far more substantial obstruction to it departing fowards....
Please tell me that you are being sarcastic...
(in case you're not, the front is where the tug goes...)
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Old 24th Apr 2020, 10:35
  #1079 (permalink)  
 
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Originally Posted by NumptyAussie View Post
Please tell me that you are being sarcastic...
(in case you're not, the front is where the tug goes...)
Not always...
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Old 24th Apr 2020, 10:44
  #1080 (permalink)  
 
Join Date: May 2000
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Funny how despite how much (was it like 14 Million AUD) Perth airport are in dispute with Qantas over unpaid fee's, haven't seen any Caterpillars parked in front of or behind any of their tails have you?

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