20 buyers now circling Virgin Australia
Court proceedings would be very unlikely to delay the progression of the sale. Rule of thumb, if a matter can be resolved by the payment of monies then the courts are generally reluctant to grant interlocutory injunctions.
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ex SimpleFlying: Virgin Australia To Stay Based In Queensland Following $138m Offer
Complete Article link here: https://simpleflying.com/virgin-aust...ensland-offer/
An Extract here:
Rgds all
S28- BE
An Extract here:
"Both bidders confirm Virgin Australia HQ to stay in Brisbane
"Both bidders confirm Virgin Australia HQ to stay in Brisbane
Virgin Australia collapsed in April and has since been administered by global insolvency firm, Deloitte. There were some 20 parties initially interested in the airline. Deloitte whittled them down to two; Bain Capital and Cyrus Capital. The administrator confirmed in a statement on Monday that both parties had submitted final, binding bids to buy Virgin Australia.
It is believed the Queensland Government’s investment arm, the Queensland Investment Corporation (QIC), did a deal with both Bain and Cyrus on the weekend. It is reported that QIC offered US$138 million in benefits to keep the airline based in Brisbane and to take a stake in Virgin Australia.
..........."
It is believed the Queensland Government’s investment arm, the Queensland Investment Corporation (QIC), did a deal with both Bain and Cyrus on the weekend. It is reported that QIC offered US$138 million in benefits to keep the airline based in Brisbane and to take a stake in Virgin Australia.
..........."
S28- BE
The circus has just begun with the bondholders now making a takeover bid in an attempt to get some return on their investment.
https://www.smh.com.au/business/comp...24-p555mf.html
https://www.smh.com.au/business/comp...24-p555mf.html
Last edited by non_state_actor; 24th Jun 2020 at 03:03.
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'The circus has just begun................'
Faraday, lead by former Lazard and Goldman Sachs banker Lachlan Edwards and ex-Herbert Smith Freehills partner John Nestel.....
Reckon- Mr 'non_state', maybe onto 'something' here.....????
Deploy, The Big-Top...... or not..???
Rgds
S28- BE
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Let’s hope not as they do a very different role to the mainline operation and essentially are self contained within vara it may not be sold with the main operation but hopefully another party will pick up the game as it feeds a lot of people onto east coast flights
VARA will definitely be gone, 737’s are more than capable of doing the viable destinations BRM KTA PHE and contracts with RIO like OCM ZNE.
With a single fleet of more than 80 737s, when many 73 will Have more attractive power by the hour leases for low utilisation WA weekday work, the 737 can do all A320 work with the benefit of dispatch reliability. They won’t need to base a VARA engineer in BME for the Fokker dispatch issues.
If a contract is not 73 economically viable they will just drop it, or get QQ to do it.
if they say it will be a single fleet there’s no future for them in the va mk2.
With a single fleet of more than 80 737s, when many 73 will Have more attractive power by the hour leases for low utilisation WA weekday work, the 737 can do all A320 work with the benefit of dispatch reliability. They won’t need to base a VARA engineer in BME for the Fokker dispatch issues.
If a contract is not 73 economically viable they will just drop it, or get QQ to do it.
if they say it will be a single fleet there’s no future for them in the va mk2.
With a single fleet of more than 80 737s, when many 73 will Have more attractive power by the hour leases for low utilisation WA weekday work, the 737 can do all A320 work with the benefit of dispatch reliability. They won’t need to base a VARA engineer in BME for the Fokker dispatch issues
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The only runway that I know the 737 may be an issue with is Cocos Island, though I'm not familiar with all the mining strip's VARA fly to.
Last edited by WipperSnapper; 25th Jun 2020 at 07:21.
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Can't think of any mine sites that the A320 currently operates into that a 737 couldn't do the same. Anyone else?
BTW - Cocos Island will handle just about any aircraft. A 737 ain't a problem. It's also scheduled for a significant airport upgrade.
BTW - Cocos Island will handle just about any aircraft. A 737 ain't a problem. It's also scheduled for a significant airport upgrade.
737 700 can do them all of which there are two remaining in the fleet. Welshpool likes to fly the A320's as much as possible on charter work, maybe they get the A320 leases for free, might have read that somewhere 
VARA cancellations ex ADL / MEL when the A320 ventured east on weekends proved just how unreliable an operation it was. The loss of good will on the Indian ocean routes and Broome is unacceptable. Why would a ruthless corporate overlord gift mainline trunk routes like KGI KTA, ZNE, PHE, BME, DRW, ADL Plus subsidised Indian ocean work to another operator in the form of a VARA sale.
That's another Borghetti own goal, like TT following mainline on the same east coast sectors.
VARA cancellations ex ADL / MEL when the A320 ventured east on weekends proved just how unreliable an operation it was. The loss of good will on the Indian ocean routes and Broome is unacceptable. Why would a ruthless corporate overlord gift mainline trunk routes like KGI KTA, ZNE, PHE, BME, DRW, ADL Plus subsidised Indian ocean work to another operator in the form of a VARA sale.
That's another Borghetti own goal, like TT following mainline on the same east coast sectors.
Last edited by -41; 25th Jun 2020 at 08:06.
Geez, then Cyrus and Bain must love wasting time.
If the Qantas announcement today caught you by surprise you would be the only one.
If the Qantas announcement today caught you by surprise you would be the only one.
Last edited by ozbiggles; 25th Jun 2020 at 13:18.