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20 buyers now circling Virgin Australia

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20 buyers now circling Virgin Australia

Old 6th Aug 2020, 14:50
  #761 (permalink)  
 
Join Date: Aug 2002
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VB staff
. There haven't been any VB staff for 9 or so years. As for looking for
something new
I think you'll find it's hard enough hanging on to anything old. Just to be clear, all Widebody (777 & 330) and ATR crew are redundant leaving approx 880 B737 and 120 VARA crew. Bain may try to sell VARA as a going concern to another FIFO operator. Some VR may be offered to 737 crew (close to retirement etc.) but the rest will, I imagine, hang on tight even if stood down as there is absolutely nothing else out there (at least flying wise).
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Old 6th Aug 2020, 21:43
  #762 (permalink)  
 
Join Date: Aug 2004
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I know it’s not easy Slice, especially not with Covid, but for your own sanity you need to get up every day and do something positive. Even walk into a business where you think you might like to work and ask straight out for a job. Whatever you do, don’t sit around waiting for the phone to ring. Anything is better than doing nothing.
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Old 6th Aug 2020, 22:00
  #763 (permalink)  
 
Join Date: May 2016
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Originally Posted by Section28- BE View Post
Extract:


Interview here:

https://www.youtube.com/watch?v=7DyjC7_HygM

This is somewhat instructive in parts (in my view)- maybe, worth a watch if you missed it...??

The whole situation/process would seem somewhat/very 'fluid', for want of a term.

rgds all
S28- BE
2:40 "We'll carry very little, if any debt ..."

I don't think this bloke understands the basics of business accounting. I would be very surprised if they don't emerge with around $2 - $2.5 billion in debt and liabilities on their balance sheet coming out of this, maybe even a smidge more. Bain are not going to be able to negotiate away the entire $6.9 billion in debts and liabilities. Coming into administration the business had $2.3 billion in secured debt and $1.9 billion in aircraft leases. A little of the 2.3 might be negotiated away but something in the order of $2 billion will need to be refinanced. The aircraft leases will probably come down to around $250 million so there's $2.2-ish billion in aggregate for the emerged business. What should be markedly lower are the financing cost and leasing cost lines that will hit the P&L.

It may be just me but every time I hear that bloke talking about the business I feel far less certain that it has a reasonable future.

Last edited by MickG0105; 7th Aug 2020 at 01:18. Reason: Typo
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Old 6th Aug 2020, 22:32
  #764 (permalink)  
 
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Originally Posted by Sunfish View Post
My gut feel - not recommendation, is that if I was in the position of VB staff, I would not be waiting around for the that tap on the shoulder from the new owners. I would be looking for something new and VB coming up with an offer would be an extra present.

This is based on my own experience. 18 months unemployed in 89/90. I spent 12 months of that chasing willow the whisp “opportunities “ put to me by “friends” that were a waste of time, to put it politely. If I were Virgin staff, I would kiss it goodbye, look for something else and then be pleasantly surprised if Virgin/Bain knocked on the door.

The alternative is sitting at home, getting depressed while you wait for the phone to ring. It won’t. Get out and think of something else. it’s healthier and might be more profitable.

Whatever you do, don’t let the grass grow under your feet. Forget VB until they come for you with $$$.
That's the thing Sunfish, I don't have any other skills. Zero. Interests in computers and networking, but zero qualifications and experience. If I get a job stacking shelves, I lose the jobkeeper and get paid less as well. Not to mention all jobs have been filled by others in the same position.

I could shoot an email with my CV to Alliance, along with the other 400 pilots just let go from VA, half of which have an E-Jet endorsement. Don't know anyone well enough to ask them to put it on the Chief pilot's desk. There are not many job's out there. Certainly wont be anything that is going to pay the mortgage and car.

If I take VR, the money would last 6-12 months with nothing on the horizon in aviation, worldwide.

I can see why it leads to some thinking there is not alternative but to leave this world. All brought about by poor Exec management and a black swan event.
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Old 6th Aug 2020, 22:55
  #765 (permalink)  
 
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Originally Posted by Servo View Post
If I get a job stacking shelves, I lose the jobkeeper and get paid less as well.
You may want to look in to that a bit more closely. Plenty of people working second jobs on stand down in my company and still legally entitled to JK.
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Old 6th Aug 2020, 23:04
  #766 (permalink)  
 
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Originally Posted by Servo View Post
That's the thing Sunfish, I don't have any other skills. Zero. Interests in computers and networking, but zero qualifications and experience. If I get a job stacking shelves, I lose the jobkeeper and get paid less as well. Not to mention all jobs have been filled by others in the same position.

I could shoot an email with my CV to Alliance, along with the other 400 pilots just let go from VA, half of which have an E-Jet endorsement. Don't know anyone well enough to ask them to put it on the Chief pilot's desk. There are not many job's out there. Certainly wont be anything that is going to pay the mortgage and car.

If I take VR, the money would last 6-12 months with nothing on the horizon in aviation, worldwide.

I can see why it leads to some thinking there is not alternative but to leave this world. All brought about by poor Exec management and a black swan event.
come on mate, chin up.
All may seem lost, but something usually comes up for most people.

For anyone that ever made it to an airline, it shows how much perseverance and determination you once had.

There’s more to life than going to work and making money, especially at the moment.
Try and maintain a positive attitude, and keep an eye out, other opportunities will present them self.

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Old 7th Aug 2020, 00:24
  #767 (permalink)  
 
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PS and his team have been kept on to provide some sort of stability through the administration process. I suspect early in the new year many will decide to "spend some more time with the family"
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Old 7th Aug 2020, 04:10
  #768 (permalink)  
 
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79k for a 737 Captain. True?
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Old 7th Aug 2020, 04:18
  #769 (permalink)  

Evertonian
 
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Originally Posted by SandyPalms View Post
79k for a 737 Captain. True?
New or used? And, can they operate the Galley?
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Old 7th Aug 2020, 04:35
  #770 (permalink)  
 
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Originally Posted by SandyPalms View Post
79k for a 737 Captain. True?
Absolutely true. In 1975.
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Old 7th Aug 2020, 05:20
  #771 (permalink)  
-41
 
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Originally Posted by SandyPalms View Post
79k for a 737 Captain. True?
Yes but with conditions.
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Old 7th Aug 2020, 05:43
  #772 (permalink)  
 
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Servo, is there a group for Virgin pilots in your area? If not, start one and make sure you meet with others in the same position for tea and bikkies at least twice a week. Things get easier once you can talk this stuff out.

Stay in touch.
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Old 7th Aug 2020, 06:01
  #773 (permalink)  
 
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Servo, is there a group for Virgin pilots in your area? If not, start one and make sure you meet with others in the same position for tea and bikkies at least twice a week. Things get easier once you can talk this stuff out.
Talking it out is irrelevant as the reality for most pilots is just as he says, that there is nowhere to go. Your only two options are to hang out for a increase in aviation activity in about 3+ years time or to start again in another job in another industry. Given most pilots have spent 1/3 of their working lives just getting into an airline very few have experience or qualifications in other industries as it's just too damn hard or expensive. I think that point is completely incomprehensible to anyone who hasn't been through it. People from outside aviation just assume you can dalliance between jobs and industries just like everyone else, except that the reality is very different even more so if you are 45+.
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Old 7th Aug 2020, 06:13
  #774 (permalink)  
 
Join Date: Apr 2020
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I suspect early in the new year many will decide to "spend some more time with the family"
Karla will need six months to get warmed up and ready for the 9 till 3 gig.
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Old 7th Aug 2020, 06:58
  #775 (permalink)  
 
Join Date: Apr 2006
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VA BrazJet drivers are OK...

... if you missed out on the big plastic maggot when you first got in with Uncle Dickies swinging dick band And got a gig on the E170/190, how providence has fallen upon you... you are a stand up to get in with Alliance (DEC) and at least have a window seat through these lean times...your 73 (only) mates will unfortunately miss out on Alliance and there won’t be any VA around after Bain Cap Co shutdown the operation by 15-22 Dec’20 and strip the carcass of their considered fiscal remains... “...we worked so hard at keeping Virgin in Australian skies However it is with regret that we must advise Virgin Australia is to cease operations...” ,and various other insincere platitudes... I would really like to be proven wrong, but these vultures read from the same playbook time, after time, after time...
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Old 7th Aug 2020, 07:16
  #776 (permalink)  
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To those pilots who are facing job losses, let me tell you an important home truth: You are not a pilot, you are a person.

You may be a father, a mother, a son or a daughter. You are a mate,a brother or sister. You are someone's world, regardless of how many epaulettes you may have on your shoulders. Those roles do not change with your job.

COVID-19 has served up a s*** sandwich to this industry, and unfortunately many people will have to eat it. Nobody saw this coming, and if you are facing redundancy, that is not your fault. Sure, VA wasn't in the greatest shape going into the crisis, but nobody would have predicted that this event would affect nearly every airline in the world, and for the length that people are saying that it will.

Yes, flying work will be competitive for a while, and far and few between, but that doesn't mean it is the end of the line. Humans can be incredibly resilient. A redundancy payout may give you the funds to do some other vocational training and pursue something else in the short-term. Even without that, you have more skills than just 'pilot' - you have been trained to assess threats, manage errors and risks, and have a deep emphasis on safety. You understand physics, weather systems, engineering, human factors...all skills that can be leveraged in other fields. It may take some time to understand that, but don't lose hope.

I'm not going to blow smoke up your a**e and tell you it will all be rainbows and butterflies. It will be tough, and there will be some dark days ahead. If that darkness starts to get on top of you, speak out. You are not alone. If you feel you can't speak to friends and family, contact Lifeline, Beyond Blue or another counselling service. Heck, if you feel you can't talk to someone about it, you can reach out to me, the anonymous bloke on the internet.

At some point, things will turn. COVID-19 will become a distant memory, people will want and need to travel, and the industry will get back on its feet. It will take some time, and that just means hanging in there for a while.

Sorry for the thread drift, but just felt that needed to be said.





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Old 7th Aug 2020, 08:25
  #777 (permalink)  
 
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Originally Posted by ebt View Post
To those pilots who are facing job losses, let me tell you an important home truth: You are not a pilot, you are a person.
Well said ebt, 👌👍 everything you said is spot on, and something we forget easily
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Old 7th Aug 2020, 08:39
  #778 (permalink)  
short flights long nights
 
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Excellent work, EBT.
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Old 7th Aug 2020, 08:50
  #779 (permalink)  
 
Join Date: May 2002
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Originally Posted by MacTrim View Post
... if you missed out on the big plastic maggot when you first got in with Uncle Dickies swinging dick band And got a gig on the E170/190, how providence has fallen upon you... you are a stand up to get in with Alliance (DEC) and at least have a window seat through these lean times...your 73 (only) mates will unfortunately miss out on Alliance and there won’t be any VA around after Bain Cap Co shutdown the operation by 15-22 Dec’20 and strip the carcass of their considered fiscal remains... “...we worked so hard at keeping Virgin in Australian skies However it is with regret that we must advise Virgin Australia is to cease operations...” ,and various other insincere platitudes... I would really like to be proven wrong, but these vultures read from the same playbook time, after time, after time...
I have a bad feeling you are probably right MacTrim.

Makes the decision harder. Do you chance it by taking voluntary redundancy now (737 pilot) and walk away, maybe forever. Or stay on and get nothing when they pull the pin completely.
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Old 7th Aug 2020, 09:17
  #780 (permalink)  
 
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Originally Posted by Servo View Post
I can see why it leads to some thinking there is not alternative but to leave this world. All brought about by poor Exec management and a black swan event.
Just like Pilate, JB has washed corporate blood on his hands. Don't let the bastards grind you down Servo.
Mum use to say to me, in life one door opens one door closes and reopens again. It's full of ups and downs. Well well well before "life is like a box of chocolates ...." statement.
In my time I have seen 89 strike, recession, mergers which can be stressful in their own way, Sept 11, Ansett, GFC, now Covid.
I'm optimistic we are right on the bottom of the U, when this blasted covid goes, the U climb will start again.
When we do hit the bottom of the U everything just seems hopeless and forlorn. Don't forget it's only tempo.
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