20 buyers now circling Virgin Australia
PS was there for 15 min before having to take himself off for a CAPA interview. The other two had nothing to offer and in fact spent much of the time saying they would have to refer back to PS (which was fair enough considering what was being asked.)
It’s very apparent staff are not being given concise and consistent information. SA seems to have been MIA for months. Everyone’s questions revolve around operations. Would have though he could have issued something by now???? COVID or no COVID QF seem to be getting ready eg moving the 717’s.
Considering the above It was a complete and utter waste of time other than Mike from Bain saying 55 to 60 737’s and if you could hang on till the April redundancy date and they need to ramp up you may end up not being made redundant......but by that time I’d given up taking much notice so can’t be sure that’s actually what he meant and probably not even his call to make.
Good Luck to all it feels like a solid rogering is on the way.
It’s very apparent staff are not being given concise and consistent information. SA seems to have been MIA for months. Everyone’s questions revolve around operations. Would have though he could have issued something by now???? COVID or no COVID QF seem to be getting ready eg moving the 717’s.
Considering the above It was a complete and utter waste of time other than Mike from Bain saying 55 to 60 737’s and if you could hang on till the April redundancy date and they need to ramp up you may end up not being made redundant......but by that time I’d given up taking much notice so can’t be sure that’s actually what he meant and probably not even his call to make.
Good Luck to all it feels like a solid rogering is on the way.
PS was there for 15 min before having to take himself off for a CAPA interview. The other two had nothing to offer and in fact spent much of the time saying they would have to refer back to PS (which was fair enough considering what was being asked.)
It’s very apparent staff are not being given concise and consistent information. SA seems to have been MIA for months. Everyone’s questions revolve around operations. Would have though he could have issued something by now???? COVID or no COVID QF seem to be getting ready eg moving the 717’s.
Considering the above It was a complete and utter waste of time other than Mike from Bain saying 55 to 60 737’s and if you could hang on till the April redundancy date and they need to ramp up you may end up not being made redundant......but by that time I’d given up taking much notice so can’t be sure that’s actually what he meant and probably not even his call to make.
Good Luck to all it feels like a solid rogering is on the way.
It’s very apparent staff are not being given concise and consistent information. SA seems to have been MIA for months. Everyone’s questions revolve around operations. Would have though he could have issued something by now???? COVID or no COVID QF seem to be getting ready eg moving the 717’s.
Considering the above It was a complete and utter waste of time other than Mike from Bain saying 55 to 60 737’s and if you could hang on till the April redundancy date and they need to ramp up you may end up not being made redundant......but by that time I’d given up taking much notice so can’t be sure that’s actually what he meant and probably not even his call to make.
Good Luck to all it feels like a solid rogering is on the way.
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Everyone is in for a rogering before the year is out QF JQ and VA. I wonder how long before PS and AJ make the walk to Canberra for a handout. Will the Fed gov step in because premiers are keeping borders closed for no reason other than to Vic.
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Ex 'TommyB'_
....other than Mike from Bain saying 55 to 60 737’s and if you could hang on till the April redundancy date and they need to ramp up you may end up not being made redundant......
NO 'ill-will' in this, AT ALL- these, Blokes werkin/trading off the 'Covid- JobKeeper' gig for all it has in 'it' and some..... More- yet?????
55-60x at April 2021- Bull-****e!!!!!, would be my call/read.... anyhoo.
rgds/the Best
S28- BE
....other than Mike from Bain saying 55 to 60 737’s and if you could hang on till the April redundancy date and they need to ramp up you may end up not being made redundant......
55-60x at April 2021- Bull-****e!!!!!, would be my call/read.... anyhoo.
rgds/the Best
S28- BE
Yes whenever their asked a question that they can be held accountable on they go all vague and act confused like they have a severe case of amnesia....they remind me of Alan Bond.
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ex the AFR: Virgin to scrap for less than a third of the domestic market.......
Article link: https://www.afr.com/companies/transp...0200902-p55rl5
rgds
S28- BE
An extract:
Mr Scurrah declined to put a number on how many planes his airline would relaunch with at the CAPA Australia Pacific Aviation Summit, only saying a full capacity Virgin would use 75 Boeing 737 aircraft.
S28- BE
An extract:
Virgin to scrap for less than a third of the domestic market
Virgin to scrap for less than a third of the domestic market
Lucas Baird ReporterSep 2, 2020 – 5.13pm
Virgin Australia 2.0 can survive with fewer than a third of all domestic air travellers, chief executive Paul Scurrah said after Qantas predicted it would capture 70 per cent of the local market when aviation rebounds from the pandemic.
"I do expect we will lose market share," says Paul Scurrah.The outbreak of COVID-19 has smashed travel demand and activity across the globe and, in Australia, unprecedented state border restrictions are placing further strain on the troubled travel sector.
Qantas, which posted a near $2 billion loss for the 2020 financial year and is preparing to sack almost a third of its 30,000 staff, told analysts it did not expect Queensland to open its borders until after the state election on October 31. Flights between Melbourne and Sydney are unlikely to resume until some time in December or January.
However, the airline remains optimistic about pent up travel demand.
According to JPMorgan analyst Richard Jones, Qantas reckons it can return to half of its pre-pandemic domestic capacity quickly when borders reopen and have cash flow positive soon after.
Qantas also predicted it could increase its domestic market share to about 70 per cent as Virgin downsizes and emerges from voluntary administration under new owner in Bain Capital.
Such a fleet size would be about half of what Virgin operated before falling into administration, due in large part to the pandemic, in late April.
A further squeeze on the nation's second-largest airline would be Regional Express's foray into capital city routes from March next year.
Mr Scurrah acknowledged his airline would lose market share as the battle for returning travellers heats up but said he would be unconcerned as long as Virgin was profitable.
"I do expect we will lose market share," he said when asked if 30 per cent of the domestic market was enough for Virgin. "If we can prove that we're a profitable business with less market share than what we went into COVID with, then that's a better outcome.
"It is about what market share, and what position, and what capacity we want to put on the markets that matter to us.
"There are routes that weren't making any money that we will pull off ... There will be markets where we do want to hold our own."
These comments are consistent with Virgin's strategic retreat in the domestic market under Mr Scurrah's watch last November.
Taxpayers paid Rex more than $62 million to help the rurally focused airline survive the COVID-19 pandemic across the 2020 financial year, including a $53.9 million bailout.
And in May, Rex announced plans to start running services between Melbourne, Sydney and Brisbane – a trio of lucrative routes known as the "golden triangle".
Rex believes it can raise $30 million from investors to launch these services.
"They should not be using government subsidies to fund growth," Mr Joyce said. "That doesn't feel right. That doesn't seem right."
Despite his attack on Rex's methods, Mr Joyce said he welcomed the competition.
"When we set up Jetstar in 2003, it was $120m to set up an airline," he said. "To set up an airline is quite an expensive thing, so I hope they've done their numbers correctly."
Virgin Australia 2.0 can survive with fewer than a third of all domestic air travellers, chief executive Paul Scurrah said after Qantas predicted it would capture 70 per cent of the local market when aviation rebounds from the pandemic.
"I do expect we will lose market share," says Paul Scurrah.The outbreak of COVID-19 has smashed travel demand and activity across the globe and, in Australia, unprecedented state border restrictions are placing further strain on the troubled travel sector.
Qantas, which posted a near $2 billion loss for the 2020 financial year and is preparing to sack almost a third of its 30,000 staff, told analysts it did not expect Queensland to open its borders until after the state election on October 31. Flights between Melbourne and Sydney are unlikely to resume until some time in December or January.
However, the airline remains optimistic about pent up travel demand.
According to JPMorgan analyst Richard Jones, Qantas reckons it can return to half of its pre-pandemic domestic capacity quickly when borders reopen and have cash flow positive soon after.
Qantas also predicted it could increase its domestic market share to about 70 per cent as Virgin downsizes and emerges from voluntary administration under new owner in Bain Capital.
Further squeeze
Mr Scurrah declined to put a number on how many planes his airline would relaunch with at the CAPA Australia Pacific Aviation Summit, only saying a full capacity Virgin would use 75 Boeing 737 aircraft.Such a fleet size would be about half of what Virgin operated before falling into administration, due in large part to the pandemic, in late April.
A further squeeze on the nation's second-largest airline would be Regional Express's foray into capital city routes from March next year.
Mr Scurrah acknowledged his airline would lose market share as the battle for returning travellers heats up but said he would be unconcerned as long as Virgin was profitable.
"I do expect we will lose market share," he said when asked if 30 per cent of the domestic market was enough for Virgin. "If we can prove that we're a profitable business with less market share than what we went into COVID with, then that's a better outcome.
"It is about what market share, and what position, and what capacity we want to put on the markets that matter to us.
"There are routes that weren't making any money that we will pull off ... There will be markets where we do want to hold our own."
These comments are consistent with Virgin's strategic retreat in the domestic market under Mr Scurrah's watch last November.
Joyce takes aim at Rex
Meanwhile, Qantas boss Alan Joyce hit out at Rex's expansion plans after the regional airline received significant government support.Taxpayers paid Rex more than $62 million to help the rurally focused airline survive the COVID-19 pandemic across the 2020 financial year, including a $53.9 million bailout.
And in May, Rex announced plans to start running services between Melbourne, Sydney and Brisbane – a trio of lucrative routes known as the "golden triangle".
Rex believes it can raise $30 million from investors to launch these services.
"They should not be using government subsidies to fund growth," Mr Joyce said. "That doesn't feel right. That doesn't seem right."
Despite his attack on Rex's methods, Mr Joyce said he welcomed the competition.
"When we set up Jetstar in 2003, it was $120m to set up an airline," he said. "To set up an airline is quite an expensive thing, so I hope they've done their numbers correctly."
Last edited by Section28- BE; 3rd Sep 2020 at 02:20. Reason: Oh- isn't everybody...../wink.
... approximately 6,000 jobs when the market recovers ...
... between 30 and 60 Boeing 737s ... depending on demand.
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What is the breakdown of these numbers. What are all these 6000 people doing? Seems quite excessive.
Even at 60 odd 737s, I don’t see why there should be anymore than 200 odd in the Support Office.
Are they counting Swissport etc in those numbers?
Even at 60 odd 737s, I don’t see why there should be anymore than 200 odd in the Support Office.
Are they counting Swissport etc in those numbers?
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A Quote (Google IT..)- "Time, shall reveal......"
Ex, Mr 'Blackout's quoted article-
Given, the ramp-up with 'some' companies.... of recent times (Apparently), any observations/or learning to be made of 'prior' events/ trading or positioning (for want of a term??) ..........?????
Or Not- AnyHoo.....
rgds all/& be Well
Section R2/D2
Some routes could be handed over to partners such as Alliance Airlines, which already operates a number of regional Queensland flights on behalf of Virgin Australia.
Or Not- AnyHoo.....
rgds all/& be Well
Section R2/D2
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Ex, Mr 'Blackout's quoted article-
Given, the ramp-up with 'some' companies.... of recent times (Apparently), any observations/or learning to be made of 'prior' events/ trading or positioning (for want of a term??) ..........?????
Or Not- AnyHoo.....
rgds all/& be Well
Section R2/D2
Given, the ramp-up with 'some' companies.... of recent times (Apparently), any observations/or learning to be made of 'prior' events/ trading or positioning (for want of a term??) ..........?????
Or Not- AnyHoo.....
rgds all/& be Well
Section R2/D2
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I think, maybe he's asking does anyone know if Alliance's (and maybe Rex) expansion of fleet might have any impact on the relationship they had with Virgin prior to administration. I think?
Post #1 over 4 months ago was;
"Virgin Australia administrators Deloitte confirm 20 buyers are now circling Virgin Australia, adding "we remain confident that our target of achieving a sale by the end of June is achievable.”
1167 posts on this thread from all the experts and we are none the wiser.
Virgin 2.0 thread will be a classic.
"Virgin Australia administrators Deloitte confirm 20 buyers are now circling Virgin Australia, adding "we remain confident that our target of achieving a sale by the end of June is achievable.”
1167 posts on this thread from all the experts and we are none the wiser.
Virgin 2.0 thread will be a classic.
The Bain DOCA proposal was accepted. The bondholders get screwed to between 10 - 13 cents. Everybody else is OK, I think. Next stage may be redundancies. This afternoon is champagne and chocolates. The mask comes off in a week or so but not before Monday.
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Here's a nice "welcome to your new airline" for Bain, they're already writing off Virgin's deposit on the Boeing 737 MAX order. Borghetti's been out of the picture since March 2019 and he's still costing the airline millions! https://www.executivetraveller.com/n...-737-max-order