"Virgin Australia Mk II could launch in as little as three months"
When Peter Hedge from PWC first shut the doors on Ansett that September 14 in 2001, and the two Marks rode in a week later to save the day, there was one thing with which they could rely on. A Market. And it still failed.
My fear, is that this pandemic will have such profound and long lasting consequences that there simply will not be sufficient demand for any sort of meaningful recovery of the aviation sector. Certainly not in the short term, and definitely not to the extent we have seen in the previous 2 decades.
Hopefully I’m wrong?
My fear, is that this pandemic will have such profound and long lasting consequences that there simply will not be sufficient demand for any sort of meaningful recovery of the aviation sector. Certainly not in the short term, and definitely not to the extent we have seen in the previous 2 decades.
Hopefully I’m wrong?
Join Date: Feb 2011
Location: dubai
Posts: 67
Likes: 0
Received 0 Likes
on
0 Posts
Is there an argument for saying that no player will want to be involved in a Virgin replacement until the domestic market is back up and running - because that could be well into next year.
I'd dare say if VA is gone and a new player enters in its place, they would want to get going on a very limited schedule quite quickly to build up some brand recognition and gradually increase in size as demand dictates into mid/late next year and beyond.
Evertonian
Evertonian
Yes, agreed. The market was somewhat diminished due to uncertainty, but absolutely, there was an opportunity to grab a slice of it. K&M were too busy building their Empire to notice they were being played...but I doubt they cared anyway.
like I said, I hope I’m wrong.
Join Date: Dec 2019
Location: Around Here
Posts: 19
Likes: 0
Received 0 Likes
on
0 Posts
I wonder how much the final liquidator will make on the hopes and dreams of 10,000 Virgin employees?

Join Date: Jul 2007
Location: BAO
Posts: 0
Likes: 0
Received 0 Likes
on
0 Posts
So- HERE 'we' do GO....., Then!!
Bulky 'stuff' and shall just plant 'it' here/on this thread.................., as opposed to the 3/or 4x options.
Nil 'Minutes' of today's proceedings, yet.
Way Too much to load and 'dissect'- should 'you' be In it, review the submissions/'Related Documents' listed on the Administrators Virgin page today- dating back/lodged with 'the' Court prior/preceding today's events/or statutory requirements, as it were:
Deloitte/VAH link: https://www2.deloitte.com/au/en/page...sidiaries.html
'It', does look to be- ON????
Rgds all
S28- BE
Nil 'Minutes' of today's proceedings, yet.
Way Too much to load and 'dissect'- should 'you' be In it, review the submissions/'Related Documents' listed on the Administrators Virgin page today- dating back/lodged with 'the' Court prior/preceding today's events/or statutory requirements, as it were:
Deloitte/VAH link: https://www2.deloitte.com/au/en/page...sidiaries.html
'It', does look to be- ON????
Rgds all
S28- BE
Something most assuredly does not add up there.
I want to know if their 13 March 2020 ASX filing that 'The group currently has a cash position in excess of $1 billion ...' was correct. Either they have torched cash at the rate of more than $25 million a day whilst hibernating the business or they had less than $1 billion on 13 March. If it's the latter then PS has an additional problem.
Join Date: Oct 2013
Location: New Zealand
Age: 71
Posts: 1,475
Likes: 0
Received 0 Likes
on
0 Posts
I'll be very interested to learn what Virgin's cash balance was when they entered administration because there's something not quite right with how they went from ostensibly having 'a cash position in excess of $1 billion' on 13 March according to their advice to the ASX to 'fighting to survive on a day-to-day basis' according to Aggs on 17 April. Most analysts thought that $1 billion would have given them variously between three to eight months of runway and yet there they were just 38 days later trying to scrounge a $200 million grant to get through the next two weeks.
Something most assuredly does not add up there.
Something most assuredly does not add up there.

Join Date: Jul 2007
Location: BAO
Posts: 0
Likes: 0
Received 0 Likes
on
0 Posts
Strewth, that:
Right THERE is one ripper question, on so many (as in More than 1x) levels, in a 'continuous disclosure' environment- 'just' sayin................????
"Time'- shall reveal, the............
Rgds all
S28- BE
"Either they have torched cash at the rate of more than $25 million a day whilst hibernating the business or they had less than $1 billion on 13 March. If it's the latter then PS has an additional problem."
"Time'- shall reveal, the............
Rgds all
S28- BE
Absolutley. With their rate of haemorrhage the money being burned would have sped up week by week, but the alleged $1b in cash being almost depleted already, if true, is totally bizzare and not possible under normal circumstances. I’m not sure they would have gotten 6 months out of the $1b, but certainly 3 to 4 months would be the target, not 38 days!! Sounds to me like Paul, Keith, Stu and Elizabeth have been busy applying copious amounts of turd polish, and now the polish has run out it has exposed just how big the turd is! Meanwhile, Ill Deuche counts his $40m and his earnings from serving on the BAC Board, doing nothing while the airport has effectively come to a stop! It’s good to be the king.
I had always thought that the 'cash position in excess of $1 billion' had to have been a stretch. We know that their audited cash position as at 30 June 2019 was $1,740.0 m and as at 31 December 2019, it was $1,107.6 m. That's an average burn of $105.4 m per month over what is generally the better half of the FY. Given the fires in January and the international travel restrictions kicking in in February I just couldn't see them having preserved that $1,107.6 m for two and a half months.
Any old how, time will tell. Well, it should but having Captain Schettino back on the bridge of the salvage boat is at the very least perplexing.
Last edited by MickG0105; 28th Apr 2020 at 12:36. Reason: Added Costa Concordia reference
Join Date: Oct 2013
Location: New Zealand
Age: 71
Posts: 1,475
Likes: 0
Received 0 Likes
on
0 Posts
If above is true, the entire board (including the chairman) need to be bought before the court and held to account for their actions! They have the final approval on such matters
Most board members are members on other company boards. Maybe some skeletons from the closet are coming out?
Most board members are members on other company boards. Maybe some skeletons from the closet are coming out?
short flights long nights
This is getting worse by the day
DC, it may not be the Board, there are these characters called Auditors. I wonder how well they are sleeping tonight. Me? I’m awake waiting for the ibuprofen to kick in for a sore shoulder.