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20 buyers now circling Virgin Australia

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20 buyers now circling Virgin Australia

Old 5th Sep 2020, 11:32
  #1101 (permalink)  
 
Join Date: May 2016
Location: Sunshine Coast
Posts: 600
Originally Posted by Section28- BE View Post
However, lots of spin/back-slapping/then outs/and maybes, and still- not 'one' freekin thing to Drill/Nail as hard-fact..... to the Wall.
Yes, it's pretty well shameless and it all seems to be tumbling from one mouth.

I think history will talk about this as one of the greatest achievements in corporate history and deservedly so.
One of the greatest achievements in corporate history!? Step aside Apple, here comes Virgin Mk. Whatever.

That has got to be some of the most tone deaf commentary you're likely to hear. I'm sure that he thinks he's largely blameless and that the whole thing was just a spot of bad luck.
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Old 5th Sep 2020, 11:38
  #1102 (permalink)  
 
Join Date: Jun 2020
Location: Melbourne
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Originally Posted by MickG0105 View Post
Yes, it's pretty well shameless and it all seems to be tumbling from one mouth.


One of the greatest achievements in corporate history!? Step aside Apple, here comes Virgin Mk. Whatever.

That has got to be some of the most tone deaf commentary you're likely to hear. I'm sure that he thinks he's largely blameless and that the whole thing was just a spot of bad luck.
I’m tipping he was kept on as a conduit between staff and Bain/administrators until after the second creditors meeting and he’ll be ‘spending more time with the family’ by Christmas, if not before.
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Old 5th Sep 2020, 12:19
  #1103 (permalink)  
 
Join Date: Apr 2010
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I would expect Carla to be appointed Chair by 1 Dec.

I wonder who will be the MD. David Hall probably lead contender, it’s a given really. Ex Jetstar CFO under Carla now works works for, wait for it, Deloitte!

Gerry will no doubt make some form of appearance.

**** me it’s going to be revenge all over again.
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Old 5th Sep 2020, 14:33
  #1104 (permalink)  
 
Join Date: Feb 2002
Location: NSW
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Originally Posted by Ragnor View Post
Anastasia pledge of 200 million to keep HQ in QLD has that gone ahead? if so, she does realize it very well could be wasted valuable money if she does not allow this company to freely operate. yes back to borders again!

From inside the Qld Govt there is a lot of hand wringing as they feel duped with regard to their $200M commitment via QIDC and payroll tax etc concession. Apart from keeping VA HQ [now moved to smaller shared digs with Flight Centre] the other commitments involved regional services staying and no loss of Qld jobs! The last one is already broken and that, in this election cycle [October 2020] is dynamite.
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Old 5th Sep 2020, 15:06
  #1105 (permalink)  
 
Join Date: Aug 2004
Location: moon
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Mr. Scurrah should be looking for a new job right now. The next stage of Virgins rape, sorry, I mean “restructure”, is about to start and Scurrah is going to have to do most of it himself. When he finishes that - covered in metaphorical blood and shyte, exhausted, both physically and mentally, his reputation in tatters, his reward will be to be “let go”. After that he will be followed by a cost conscious bean counter unless the Board goes straight to the “Exit CEO”.

The “Exit CEO”. Is the smiling face of “the exit good news story”. She will be a marketer, look the part, be warm, touchy, feely etc. The exit story will be about how Bain came forward in Virgins darkest hour and rescued it from an incompetent management - led by the now long departed Mr. Scurrah. Bain heroically worked day and night to restructure Virgin and on its days off, it ran a soup kitchen for homeless children. .....,And now, four years later, Virgin is all sparkling clean and new, with a great business future and beautiful smiling staff who are newly hired and oblivious to the pain and suffering that the old staff went through, led by our sexy savvy new CEO, and the shares are $5 each and there is a limit of 2000 per customer and the IPO is likely to be way oversubscribed, so fill out the application form after of course reading the prospectus and send your cheque to......

And Bain, it’s investors and staff walk away with at least four billion dollars profit. Each Bain team member now has enough to pay for their grand children’s private school fees and then some. The virgin staff? Not so much.

Poor Scurrah is going to have to do some horrible things. Legal but horrible. The first question Virgin staff should be asking themselves is “will Bain want me here on exit day?”. If you are old and grey, perhaps back office staff, then you already know the answer. You really want to be under about 26 to survive in my opinion.

Sorry for being so negative. Seen and lived some of that stuff myself and I’ve got a headache tonight.
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Old 5th Sep 2020, 22:59
  #1106 (permalink)  
 
Join Date: May 2004
Location: Oz
Posts: 511
Originally Posted by MelbourneFlyer View Post
Well your conclusion seems to be that JH's arrival as a Hawaiian Airlines director in July is directly connected to Hawaiian's decision to cut 2000 more jobs. And I agree. Hawaiian obviously had no intention of further reducing its workforce, despite most airlines around the world standing down staff and despite the fact that the tourism and travel continues to be battered by COVID-19, especially tourism which is the lifeblood of Hawaii and Hawaiian. This boardroom full of experienced directors was sitting there crying "Oh no, what can we do, how can we cut costs and survive? We have no idea!!!" and then suddenly Jayne waltzed in and said "Why don't you sack 2000 people?" and the Hawaiian board and management said "Oh gosh, we never thought of that, wow Jayne you are our hero".

Delusional much, Blackout?

I work at HA, the reductions are based on currently only operating less than 10% of our schedule due State quarantine restrictions not cos of Hrdlika.
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Old 5th Sep 2020, 23:50
  #1107 (permalink)  
 
Join Date: Feb 2018
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PS must be pretty safe then, as pretty much everything Sunfish "predicts" doesn't happen. But remember, he's "seen it all before"!
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Old 6th Sep 2020, 05:21
  #1108 (permalink)  
 
Join Date: Nov 2006
Location: Auckland, New Zealand
Posts: 801
Why would anybody currently employed as an airline executive in Australia be hired by Virgin mk2?
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Old 6th Sep 2020, 08:05
  #1109 (permalink)  
 
Join Date: Aug 2009
Location: Australia
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Originally Posted by MickG0105 View Post
Yes, it's pretty well shameless and it all seems to be tumbling from one mouth.


One of the greatest achievements in corporate history!? Step aside Apple, here comes Virgin Mk. Whatever.

That has got to be some of the most tone deaf commentary you're likely to hear. I'm sure that he thinks he's largely blameless and that the whole thing was just a spot of bad luck.
He called it a 'black swan' event. Yet it isn't. He doesn't even understand black swan theory.
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Old 6th Sep 2020, 08:07
  #1110 (permalink)  
 
Join Date: Aug 2009
Location: Australia
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Originally Posted by wheels_down View Post
I would expect Carla to be appointed Chair by 1 Dec.

I wonder who will be the MD. David Hall probably lead contender, it’s a given really. Ex Jetstar CFO under Carla now works works for, wait for it, Deloitte!
Who is that?
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Old 6th Sep 2020, 08:21
  #1111 (permalink)  
 
Join Date: May 2016
Location: Sunshine Coast
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Originally Posted by T-Vasis View Post
He called it a 'black swan' event. Yet it isn't. He doesn't even understand black swan theory.
Yes, that is one of my pet peeves. If it's on your risk register - and I've have to assume that it is on the basis it appears amongst the list of risks articulated in the prospectus for last year's notes issue - then it is manifestly not a 'black swan' event.
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Old 6th Sep 2020, 08:34
  #1112 (permalink)  
 
Join Date: Aug 2009
Location: Australia
Posts: 483
Pandemics are not black swan events. Even the inventor of the concept has publicly argued the same. COVID is a pandemic. Nothing more. They've happened in the past - they'll happen in the future.
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Old 6th Sep 2020, 08:55
  #1113 (permalink)  
 
Join Date: Aug 2004
Location: moon
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If Bain are smart, they wont appoint a managing director. They will hire a CEO who is an employee and appears in the minutes of Board meetings as “in attendance”. The Board then can have their own (very) private discussions - appropriate since the new Virgin is a private company. The staff and CEO can then only guess at what is going to happen.
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Old 6th Sep 2020, 09:29
  #1114 (permalink)  
 
Join Date: Dec 2001
Location: Brisvegas
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Sunfish he is both, errr was...

https://www.virginaustralia.com/au/e...xecutive-team/

If a board has to "hide" discussion from the person they employ to run the business, well, what does that say.
Icarus2001 is online now  
Old 6th Sep 2020, 10:42
  #1115 (permalink)  
 
Join Date: Aug 2004
Location: moon
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Icarus, in my opinion bad move. Look at flying. You have a pilot who is in command and then I assume a check pilot who does not interfere. The roles of board member and CEO are very different and I would suggest that VB would never have got into this mess if JB was not on the board. The board would have fired him years ago. The boards job is to watch the CEO and fire them if they screw up. You can’t do that easily with an MD.

P.S. Boards have to be able to have discussions that would make your hair stand on end. Look at AMP. Look at Rio Tinto.
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Old 6th Sep 2020, 11:32
  #1116 (permalink)  
 
Join Date: Apr 2010
Location: Asia
Posts: 1,030
FFS close the thread. It’s run it’s course.
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Old 6th Sep 2020, 12:21
  #1117 (permalink)  
 
Join Date: Oct 2016
Location: VIC - The Covid State
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Originally Posted by wheels_down View Post
FFS close the thread. It’s run it’s course.
Problem is you end it and another one sprouts. Another 6 months of machinations bashing of an airline.
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Old 6th Sep 2020, 13:47
  #1118 (permalink)  
 
Join Date: Aug 2004
Location: moon
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Close it. ..........
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Old 6th Sep 2020, 13:52
  #1119 (permalink)  
 
Join Date: Apr 2010
Location: Asia
Posts: 1,030
Well the buyer was found, so yes, tailwheel please put us out of our misery.
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Old 9th Sep 2020, 04:37
  #1120 (permalink)  
Thread Starter
 
Join Date: Jan 2017
Location: MEL
Posts: 182
A bit of news breaking today on the Virgin Australia 2.0 front!

Virgin Australia confirms its relaunch fleet at 56 Boeing 737s, aims to grow to 75+ in the coming years “by taking advantage of the current aircraft market for used 737s.” https://www.executivetraveller.com/n...56-boeing-737s

Virgin Australia scraps nine regional routes across NSW, Victoria and Queensland as part of its downsized domestic network
https://www.executivetraveller.com/n...egional-routes

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