20 buyers now circling Virgin Australia
Thread Starter
Join Date: Jan 2017
Location: MEL
Posts: 192
Likes: 0
Received 0 Likes
on
0 Posts
Here is an interesting note on how many B737s Virgin Australia will actually be flying.
So Virgin Australia will have somewhere north of the 40 they own and obviously would be planning for more otherwise why would they be having discussions with leasing companies?
This is from the ET story at https://www.executivetraveller.com/n...s-some-lounges
As to the number of Boeing 737s that'll be in the hangars, "how many we are taking through and how many we will need in the future is still a work in progress," Scurrah said.
However, he qualified that "at the end of this pandemic, once we get back to pre-Covid FY19 levels, we see a market that could sustain us having 60-80 Boeing 737s in our fleet," implying that the reboot fleet will be substantially lower.
Virgin owns some 40 Boeing 737s, all of which will likely remain on deck, and this will be supplemented by some leased aircraft – leaving the door open to cherry-picking the best deals from among the current roster of leasing companies who hold the keys to another 40 Boeing 737s.
"We're renegotiating aircraft lease rates with our lessors," Scurrah revealed, "and those lease rates will be different to what we had previously." He added that at least from an operational perspective, the airline's financial problems "were about onerous contracts and a complicated fleet."
However, he qualified that "at the end of this pandemic, once we get back to pre-Covid FY19 levels, we see a market that could sustain us having 60-80 Boeing 737s in our fleet," implying that the reboot fleet will be substantially lower.
Virgin owns some 40 Boeing 737s, all of which will likely remain on deck, and this will be supplemented by some leased aircraft – leaving the door open to cherry-picking the best deals from among the current roster of leasing companies who hold the keys to another 40 Boeing 737s.
"We're renegotiating aircraft lease rates with our lessors," Scurrah revealed, "and those lease rates will be different to what we had previously." He added that at least from an operational perspective, the airline's financial problems "were about onerous contracts and a complicated fleet."
This is from the ET story at https://www.executivetraveller.com/n...s-some-lounges
Join Date: Oct 2016
Location: Most locked down city in the world
Posts: 546
Likes: 0
Received 0 Likes
on
0 Posts
The answer to that question depends on how much 2 stroke mixture is in JH's chainsaw. I really think she was
the driving matrix in deciding a number of 3000. That's not a number it's called fat, and that's all we are, fat.
Nothing like a good old fashion trimming to the bone. Speaking of bones almost choked on mine
when I read in THE AUSTRALIAN page 3 "A Virgin spokeswoman said that Ms H would add great value on the board".
Then I read further quote Mr Kaine "What Virgin needs is a board that can really bring people together and work collaboratively".
Rightteeooo.
the driving matrix in deciding a number of 3000. That's not a number it's called fat, and that's all we are, fat.
Nothing like a good old fashion trimming to the bone. Speaking of bones almost choked on mine
when I read in THE AUSTRALIAN page 3 "A Virgin spokeswoman said that Ms H would add great value on the board".
Then I read further quote Mr Kaine "What Virgin needs is a board that can really bring people together and work collaboratively".
Rightteeooo.
Don’t know where the ‘fat’ comes from. One ground staffer on each gate with a couple of floaters running between arrivals and departures to help out. OTP will suffer........JH seems to have a habit of screwing with company’s and then ‘moving on for personal reasons’ but AFAIK she has never really had a direct position within a company that Bain has A LOT of cash in so maybe they might finally see here for her true colours.......
Scurrah on record today saying that they hope to invite 2000 staff back after the industry recovers from the pandemic.
Seems like 6000 will only be the 'best case' scenario when the industry returns to pre COVID-19 levels (including international).....Seems like job information losses is being drip fed slowly to prevent hysteria.
Bain are starting to show their hand, seems like the airline will be operating at 25% after the recovery has commenced.
Seems like 6000 will only be the 'best case' scenario when the industry returns to pre COVID-19 levels (including international).....Seems like job information losses is being drip fed slowly to prevent hysteria.
Bain are starting to show their hand, seems like the airline will be operating at 25% after the recovery has commenced.
Thread Starter
Join Date: Jan 2017
Location: MEL
Posts: 192
Likes: 0
Received 0 Likes
on
0 Posts
VIPA: Approximately 400 of the 1400 remaining Virgin Australia Group pilots to be made redundant
https://centreforaviation.com/news/v...undant-1015922
https://centreforaviation.com/news/v...undant-1015922
Join Date: Jul 2007
Location: BAO
Posts: 0
Likes: 0
Received 0 Likes
on
0 Posts
ex ABC News: Paul Scurrah interview....
Extract:
Interview here:
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
Virgin Australia's Paul Scurrah says he'll be staying on as the company revealed plans to make about a third of its workforce redundant, with approximately 3,000 jobs expected to go under new owners Bain Capital, while 6,000 staff remain.
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
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 $$$.
This is based on my own experience. 18 months unemployed in 89/90. I spent 12 months of that chasing willow the whisp “opportunities “ put to me by “friends” that were a waste of time, to put it politely. If I were Virgin staff, I would kiss it goodbye, look for something else and then be pleasantly surprised if Virgin/Bain knocked on the door.
The alternative is sitting at home, getting depressed while you wait for the phone to ring. It won’t. Get out and think of something else. it’s healthier and might be more profitable.
Whatever you do, don’t let the grass grow under your feet. Forget VB until they come for you with $$$.
Join Date: Nov 2016
Location: Sydaknee
Posts: 7
Likes: 0
Received 0 Likes
on
0 Posts
Ive heard this 'strong balance sheet moving forward' being touted around lately. The fact is, the company is still in debt somewhat and will need to service those debts somehow.
If 'Value' airfares is the pitch...Well the grass better be green!!
There is going to be strong competition, a reluctance of people to travel due to CV19 and combined with a tarnished reputation, will not make it easy for VA to achieve any form of profitability.
Seems like Bain are just 'winging' it everyday.
If 'Value' airfares is the pitch...Well the grass better be green!!
There is going to be strong competition, a reluctance of people to travel due to CV19 and combined with a tarnished reputation, will not make it easy for VA to achieve any form of profitability.
Seems like Bain are just 'winging' it everyday.
VB staff
There haven't been any VB staff for 9 or so years. As for looking for
something new
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.
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
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
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
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 $$$.
This is based on my own experience. 18 months unemployed in 89/90. I spent 12 months of that chasing willow the whisp “opportunities “ put to me by “friends” that were a waste of time, to put it politely. If I were Virgin staff, I would kiss it goodbye, look for something else and then be pleasantly surprised if Virgin/Bain knocked on the door.
The alternative is sitting at home, getting depressed while you wait for the phone to ring. It won’t. Get out and think of something else. it’s healthier and might be more profitable.
Whatever you do, don’t let the grass grow under your feet. Forget VB until they come for you with $$$.
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.
Join Date: Sep 2019
Location: HKG
Posts: 399
Likes: 0
Received 0 Likes
on
0 Posts
Join Date: Jul 2013
Location: elsewhere
Posts: 185
Likes: 0
Received 0 Likes
on
0 Posts
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.
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.
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.
Join Date: Jan 2008
Location: Australia
Posts: 5
Likes: 0
Received 0 Likes
on
0 Posts
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"