Government Loan to Virgin Australia
The govt said (in fin review today I think) that they would NOT prevent an overseas govt takeover
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Latest is that Scurrah is talking to a group comprising China Southern, China Eastern and Air China to do the rescue deal. So three Chinese companies as distinct from now with an Arab, a Singaporean, two Chinese and a Pom. Seems likes its Hobsons Choice as D Day approaches.
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My gut feeling is the other states won’t match it. It’s a Brisbane based airline and the other states will still have air services or some form. Plus they’re broke.
the Chinese will be the best bet.
the Chinese will be the best bet.
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About 50/50
But they don’t really own them. As they have Borrowed cash against every one of them (minus the Fokker), with the now problem of unable to pay the debt tied to them, they are really owned by the banks.
But they don’t really own them. As they have Borrowed cash against every one of them (minus the Fokker), with the now problem of unable to pay the debt tied to them, they are really owned by the banks.
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Define "owned".
One poster says just "owned", another says 50% owned but used as collateral for loans...so the financial institution either "owns" or has a substantial holding.
It sounds as if VA own ZERO of the mainline fleet - if all are used as security for loans.
One poster says just "owned", another says 50% owned but used as collateral for loans...so the financial institution either "owns" or has a substantial holding.
It sounds as if VA own ZERO of the mainline fleet - if all are used as security for loans.
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If the chinese want in, they should be allowed in under the current circumstances i.e. $5b debt.
If they want it cheaply once the company goes into administration, the government should be telling them to get ^%$#@!.
If they want it cheaply once the company goes into administration, the government should be telling them to get ^%$#@!.
They definitely can not have it both ways! 
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But hey, it's legal!
A bit like a motorist offering a cyclist five bucks for the $3k bike they just knocked him off.
There won't be a major bailout apart from miss Piggy who just wants her employment stats to look good for the impending election.