20 buyers now circling Virgin Australia
Anything can still happen though. It still has to be accepted by the bondholders in August and then as someone else said the deal is not done until the money is in the bank. I expect once the winning bid is announced the lobbying will start for others money. Money from the taxpayers, from creditors , airports and so on. If none forthcoming they too will walk just like the Tesna bid. Good luck to the staff and creditors.
Has all the signs of the Tesna bid for Ansett. I wouldn't be surprised if Bain also now pull out due to no Government dollars which these VC 's really want to do spend other people's money while stripping the assets for themselves. I also think Qantas announcement was strategically timed to help kill off any bids. My guess is Virgins best chance is the bondholders bid as they hsve more skin in the game.
Last edited by KRUSTY 34; 26th Jun 2020 at 02:13.
I don’t know but my feeling would be this is a tactic to save face because Bain is going to ‘win’ the process? You would think they would have a better line than they won’t return our emails! I’m pretty sure they have people in the Village in the data room. It is like a jilted teenager, if you return my email we can still talk.....I still love you.
Have to admire the few here who think these companies had no idea how bad things were until Qantas said they were bad.
Have to admire the few here who think these companies had no idea how bad things were until Qantas said they were bad.
Originally Posted by mostlytossas View Post
Has all the signs of the Tesna bid for Ansett. I wouldn't be surprised if Bain also now pull out due to no Government dollars which these VC 's really want to do spend other people's money while stripping the assets for themselves. I also think Qantas announcement was strategically timed to help kill off any bids. My guess is Virgins best chance is the bondholders bid as they hsve more skin in the game.
Agree
Has all the signs of the Tesna bid for Ansett. I wouldn't be surprised if Bain also now pull out due to no Government dollars which these VC 's really want to do spend other people's money while stripping the assets for themselves. I also think Qantas announcement was strategically timed to help kill off any bids. My guess is Virgins best chance is the bondholders bid as they hsve more skin in the game.
Agree
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From what I can gather maybe Deloitte's already picked a winner a few weeks ago and confirmed the winner (in their own sanctum) when the bid became binding
last Monday. That's a maybe.
last Monday. That's a maybe.
They left Martin Place last week with nothing more than a 'thanks for coming'.
The work experience kiddie could have knocked up the briefing for anyone meeting with Cyrus; 'Has 40 percent stake in airline already in administration. Wants to buy another more than twice the size and three times as complicated as the first one. Hard PASS.'
Last edited by MickG0105; 26th Jun 2020 at 01:05. Reason: Typo
According to the ASX, it is Bain.
The funny part is how many of the doomsdayers on this page have been proven wrong in under 24 hours.
The funny part is how many of the doomsdayers on this page have been proven wrong in under 24 hours.
Last edited by ozbiggles; 26th Jun 2020 at 01:45.
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No return to shareholders
at this stage, it is not possible to determine the estimated return to creditors
This is still not a done deal until the creditors come to the party. The report to creditors will make interesting reading.
I have a feeling it will be fairly quiet until the future of Jobkeeper is known. It is clear the shareholders have lost all their money! Remaining creditors will be interesting but I think the big advantage Bain had over 2nd place was the size of their wallet.
So Bain evidently intend to operate 40 or so 737's for the foreseeable future from what I have read. At a rough calculation that means around 37 x 737s, 6 x A330 and 5 x 777 will be unused/sold/removed and not requiring crews for some time into the future. How many pilots and hosties does that impact?
Lost Wanderer. A back of the envelope calculation says a total of about 1,000 Virgin pilots will be impacted. This is made up of B773, A333, New Zealand B738, Tiger A320, Vara A320, F100 and ATR72 pilots. Some will have flown their last 'heavy'.
Last edited by B772; 26th Jun 2020 at 03:37.