Government Loan to Virgin Australia
Join Date: Aug 2018
Location: Melbourne
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10 years of mismanagement are the reason they’re going bust, not the govt.
At the end of the day, the govt doesn’t have the ability to save every business in every industry from the effects of COVID 19. The economic impacts are similar to the health impacts, those that were healthy leading into the crisis have a good chance of surviving, those with pre-exisiting conditions may find the pandemic to be fatal.
because doing that’s why we’re all in this **** at the moment.
thanks for supporting VA assistance
Join Date: Sep 2002
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anyone suggesting that it was a foregone conclusion, I assume had taken a short on the position to back up their confidence. Should be laughing now.
otherwise they’re speaking with revisionist bull****.
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Completely irrelevant! The company was turning around under a competent new leader. That's what he's good at and that's what he was doing!
Had they stuck to their profitable and debt free previous roots, of Virgin Blue, and went down the Alaska of JetBlue type of model, without gutting the joint to the tune of billions, they might have a few billion bucks on the balance sheet, profitable, and little debt. They could have gone to lenders tomorrow and secured cash against their aircraft. They could have secured billions on finance, if they were in a better position. They can’t do that today because they already did that, to fund a airfare war.
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$5b in debt. Asking for another $1.4b that will never be repaid. Where does it end? The government with a slice of equity in a broke company? Please.
Fold it up. Start again. Drop the royalty payment bull**** to Tiger and Branson.
The interest alone on a $1.4b loan would cripple any turn around PS was making.
Fold it up. Start again. Drop the royalty payment bull**** to Tiger and Branson.
The interest alone on a $1.4b loan would cripple any turn around PS was making.
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https://www.worldometers.info/corona...try/australia/
Take a good look at all these graphs and project them. By a months time or middle of June the Virus will be eradicated.
The Lancet also indicates this on their website. I also agree to this because viruses get weaker and weaker over time.
If that's the case we will be into only week 2 of the job keeper allowance right at the time everyone is starting to go back to work.
i.e payroll will be reverting all salaries. Hence the 130 billion would be hardly touched. Catch my drift or am
I being too situationally aware.
And another thing: Where the F#@*K are the Greens. Not one mention in the last 4 weeks until I typed it in 14 words ago.
Hiding in there rabbit holes like they did during the bushfires. They stand for F@#*K all and always have. They are
friggen cowards, wimps, useless waste of time and money and couldn't give a shizen about any of our jobs.
I've saying that for 20 years.
Directimped. I forgot about their website. I had a quick look nothing new there. Money grows on trees party are still
in hibernation Adam will come out of the bunny hole in August.
Take a good look at all these graphs and project them. By a months time or middle of June the Virus will be eradicated.
The Lancet also indicates this on their website. I also agree to this because viruses get weaker and weaker over time.
If that's the case we will be into only week 2 of the job keeper allowance right at the time everyone is starting to go back to work.
i.e payroll will be reverting all salaries. Hence the 130 billion would be hardly touched. Catch my drift or am
I being too situationally aware.
And another thing: Where the F#@*K are the Greens. Not one mention in the last 4 weeks until I typed it in 14 words ago.
Hiding in there rabbit holes like they did during the bushfires. They stand for F@#*K all and always have. They are
friggen cowards, wimps, useless waste of time and money and couldn't give a shizen about any of our jobs.
I've saying that for 20 years.
Directimped. I forgot about their website. I had a quick look nothing new there. Money grows on trees party are still
in hibernation Adam will come out of the bunny hole in August.
Last edited by Turnleft080; 16th Apr 2020 at 10:27.
For the record, I don’t want VA to fall or anyone to lose their jobs.
I just think any support VA gets needs to be part of an industry wide package, not a direct government intervention which is essentially buying into VA’s considerable debt. I don’t think it’s fair and I think it would set a precedent for a lot of other private enterprises in Australia that the government will bail them out during COVID, regardless of their previous financial situation. As cliche as it is, the Govt shouldn’t be picking winners and losers, just helping out the sector evenly.
For people that work there, that still ******* sucks and I understand that totally.
For the liberal government at the moment, I imagine the discussion is centring around conservative economic values vice the potential electoral hurt and slower tourism industry that results from less flights and competition.
From what Scomo has said publicly though, I think they’ve made their decision already.
Best of luck to everyone.
I just think any support VA gets needs to be part of an industry wide package, not a direct government intervention which is essentially buying into VA’s considerable debt. I don’t think it’s fair and I think it would set a precedent for a lot of other private enterprises in Australia that the government will bail them out during COVID, regardless of their previous financial situation. As cliche as it is, the Govt shouldn’t be picking winners and losers, just helping out the sector evenly.
For people that work there, that still ******* sucks and I understand that totally.
For the liberal government at the moment, I imagine the discussion is centring around conservative economic values vice the potential electoral hurt and slower tourism industry that results from less flights and competition.
From what Scomo has said publicly though, I think they’ve made their decision already.
Best of luck to everyone.
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And another thing: Where the F#@*K are the Greens. Not one mention in the last 4 weeks until I typed it in 14 words ago.
Hiding in there rabbit holes like they did during the bushfires. They stand for F@#*K all and always have. They are
friggen cowards, wimps, useless waste of time and money and couldn't give a shizen about any of our jobs.
I've saying that for 20 years.
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you are willing to sacrifice them for your possible better life in the future .Sacrificial lambs.Those that endured the Depression and two World Wars with the associated lives lost to secure your future .......Well........I’m lost for words.
For “those” ....” do we decide they are worth it ? “... posting here with their contributions to this existing condition regarding the hardship that many of us will encounter and the imminent downgrading of our relative peaceful and prosperous life please tell your elderly family members or the elderly population in general that
you are willing to sacrifice them for your possible better life in the future .Sacrificial lambs.Those that endured the Depression and two World Wars with the associated lives lost to secure your future .......Well........I’m lost for words.
you are willing to sacrifice them for your possible better life in the future .Sacrificial lambs.Those that endured the Depression and two World Wars with the associated lives lost to secure your future .......Well........I’m lost for words.
well done
I need some advice:
On Saturday 11th of April: I rang VA...they said my flight was a non refundable flight (PER-MEL-PER in November). I told them to put my flight into flight credit which they did. But then I asked them what if VA goes under..then my flight credit ceases to exist...they said they are not thinking that far ahead. I then told them to reinstate the flight as normal and if VA is around still in November when my flight is scheduled then I will still fly to MEL. I'll watch and keep an eye on the situation. Flight is still 7 months away. I also had hotel room booked but that isnt complicated as I pay on arrival. So really its just the airfare which is a bit sticky but i do have 7 months to keep an eye on things and I'll re-assess it in Sept/Oct.
But due to the current situation it seems VA are not looking at all. Will VA go under in a matter of weeks or months? Should I call VA and ask them to cancel my flight and put it into flight credit for 12 months.
Any advice is appreciated.
Cheers.
On Saturday 11th of April: I rang VA...they said my flight was a non refundable flight (PER-MEL-PER in November). I told them to put my flight into flight credit which they did. But then I asked them what if VA goes under..then my flight credit ceases to exist...they said they are not thinking that far ahead. I then told them to reinstate the flight as normal and if VA is around still in November when my flight is scheduled then I will still fly to MEL. I'll watch and keep an eye on the situation. Flight is still 7 months away. I also had hotel room booked but that isnt complicated as I pay on arrival. So really its just the airfare which is a bit sticky but i do have 7 months to keep an eye on things and I'll re-assess it in Sept/Oct.
But due to the current situation it seems VA are not looking at all. Will VA go under in a matter of weeks or months? Should I call VA and ask them to cancel my flight and put it into flight credit for 12 months.
Any advice is appreciated.
Cheers.
You really don’t have many options. If it were me I’d be keeping the booking. As you said it’s 7 months away.. there’s plenty of water to flow under the bridge yet... but for a few reasons (credit card policies for flight cancellations, possible transfer of pax to other services) and others not worth going into, it’s probably advantageous to have a booking rather than a flight credit. JMHO