"Virgin Australia Mk II could launch in as little as three months"
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Location: New Zealand
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Apparently the CEO has been hated at every airport he works at. All he does is put up fees and charges, increase rent and lease prices and gouges the car parking prices. He also gets rid of most male managers and replaces them with females becuase he is scared of being outshone by more capable men. Real weakling of a man. The Board should sack him.
You're only trading insolvent when you cannot pay your debts as and when they fall due. They allegedly had cash in the bank close to 1 bil so I doubt they were trading insolvent. A number of comments in the media made the point that if they whittled that cash position down before seeking out a buyer it would die, thus, I guess, they chose to enter vol admin to make it as attractive as possible with the best chance of preventing its collapse.
Edit: as of 5.02 (EST I guess) SMH reports the Admin claims 7B in debt in submitted court docs.
Edit: as of 5.02 (EST I guess) SMH reports the Admin claims 7B in debt in submitted court docs.
Perth Airport said this was standard practice.
Canberra airport did the same thing to a QF aircraft in 2018 allegedly.
https://australianaviation.com.au/20...olute-baloney/
https://www.dailymail.co.uk/news/art...ld-ransom.html
https://www.canberratimes.com.au/sto...omali-pirates/
https://australianaviation.com.au/20...olute-baloney/
https://www.dailymail.co.uk/news/art...ld-ransom.html
https://www.canberratimes.com.au/sto...omali-pirates/
they are a creditor like anyone else and have no right to take out individual liens.
The Scottish maggot strikes again! What a disgrace. The Board of Directors should sack him immediately! Is that even legal? Especially if the aircraft isn’t fully owned by the airline, or there is a lean on the aircraft, engines sometimes owned by a third party and fuselage owned by another third party? Aircraft ownership can be complex. Obviously Kevin Browns airport profits come before 10,000 unemployed people! Remember his name people. Disgraceful!!
Anyway, what happened to airlines getting a full refund on navigation and landing charges as part of the Corona stimulant package?
The CEO will be starring in the next episode of 'airplane repo' if the aircraft are owned by a leasing company though.
I think it is just a publicity stunt, and has zero legal weight. Perth Airport can stand in line like everyone else.
I think it is just a publicity stunt, and has zero legal weight. Perth Airport can stand in line like everyone else.
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Very interesting. That’s a big difference from what they originally mentioned. Makes you wonder how an asministrator can work out a more accurate assessment of how much debt the company is in within a week, yet the Board who have been there for years and a CEO who who has been there for over a year didn’t know the real figures?? Oh well, maybe the return of Neate Keith wasn’t such a Gordon idea. And Stewie, dear oh dear, as COO you also were ‘disconnect’. What a mess.
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It’s all a bit silly really.
According to the ABC news one of the aircraft does not have engines and another has landing gear issues so they are not worth much at all.
also in one of the photos the heavy machinery is parked in front of the B737 which is at the gate. Obviously the bright spark who put it there hasn’t heard of pushback!
Doesn't Sind like much thought has been given to this at all, mainly publicity stunt.
According to the ABC news one of the aircraft does not have engines and another has landing gear issues so they are not worth much at all.
also in one of the photos the heavy machinery is parked in front of the B737 which is at the gate. Obviously the bright spark who put it there hasn’t heard of pushback!
Doesn't Sind like much thought has been given to this at all, mainly publicity stunt.
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After reading thru this thread it would read like a fictional disaster if being read 6 months ago! Back then one would have been laughed out of this forum even postulating it, you couldn't have dreamed this stuff up if ya tried, funny how life turns out!-)
It’s all a bit silly really.
According to the ABC news one of the aircraft does not have engines and another has landing gear issues so they are not worth much at all.
also in one of the photos the heavy machinery is parked in front of the B737 which is at the gate. Obviously the bright spark who put it there hasn’t heard of pushback!
Doesn't Sind like much thought has been given to this at all, mainly publicity stunt.
According to the ABC news one of the aircraft does not have engines and another has landing gear issues so they are not worth much at all.
also in one of the photos the heavy machinery is parked in front of the B737 which is at the gate. Obviously the bright spark who put it there hasn’t heard of pushback!
Doesn't Sind like much thought has been given to this at all, mainly publicity stunt.
How is it possible that an a board and ELT (some of whom have been there for years). A CEO who has been there for a year, Can seriously go to the government asking for 1.4B and they don't even know how much they already owe??? Seriously WTF! Surely the first thing you would do after joining a company notoriously addicted to borrowing money and being in hock to the eyeballs would be to find out how bad the situation is? AND it was so bad it only took your administrator ONE WEEK to find 2 BILLION DOLLARS that no one knew about.
Who on earth does that make sense too? Was administration part of the plan all along or are they all just incompetent or stupid or both? Surely there has to be some sort of enquiry? This just doesn't add up.
Had the Govt. stumped up the cash that would have but them in the debt ballpark of 8.4B. I would love to know how on earth any of them had a plan to pay that back. Especially with the same Villiage idiots who put it there in the first place still running amok.
Who on earth does that make sense too? Was administration part of the plan all along or are they all just incompetent or stupid or both? Surely there has to be some sort of enquiry? This just doesn't add up.
Had the Govt. stumped up the cash that would have but them in the debt ballpark of 8.4B. I would love to know how on earth any of them had a plan to pay that back. Especially with the same Villiage idiots who put it there in the first place still running amok.
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How is it possible that an a board and ELT (some of whom have been there for years). A CEO who has been there for a year, Can seriously go to the government asking for 1.4B and they don't even know how much they already owe??? Seriously WTF! Surely the first thing you would do after joining a company notoriously addicted to borrowing money and being in hock to the eyeballs would be to find out how bad the situation is? AND it was so bad it only took your administrator ONE WEEK to find 2 BILLION DOLLARS that no one knew about.
Who on earth does that make sense too? Was administration part of the plan all along or are they all just incompetent or stupid or both? Surely there has to be some sort of enquiry? This just doesn't add up.
Had the Govt. stumped up the cash that would have but them in the debt ballpark of 8.4B. I would love to know how on earth any of them had a plan to pay that back. Especially with the same Villiage idiots who put it there in the first place still running amok.
Who on earth does that make sense too? Was administration part of the plan all along or are they all just incompetent or stupid or both? Surely there has to be some sort of enquiry? This just doesn't add up.
Had the Govt. stumped up the cash that would have but them in the debt ballpark of 8.4B. I would love to know how on earth any of them had a plan to pay that back. Especially with the same Villiage idiots who put it there in the first place still running amok.
Had the Govt. stumped up the cash that would have but them in the debt ballpark of 8.4B. I would love to know how on earth any of them had a plan to pay that back. Especially with the same Villiage idiots who put it there in the first place still running amo
