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AFR - Virgin Administrators come under fire for doubtful forecasts

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AFR - Virgin Administrators come under fire for doubtful forecasts

Old 20th May 2020, 05:44
  #61 (permalink)  
 
Join Date: Jun 2019
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REX is a looooong way off from being a jet operator, also 200m wouldn’t even come close.
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Old 20th May 2020, 07:27
  #62 (permalink)  
 
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REX is a looooong way off from being a jet operator, also 200m wouldn’t even come close.
They are closer than someone off the street applying for an High Capacity AOC in August though.
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Old 23rd May 2020, 02:55
  #63 (permalink)  
 
Join Date: May 2020
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I mean this post for no ill intent but to clear the perceptions made already with a true reality check with from the inner circle.
Your unions have already been briefed for the number of losses on the way, for each workgroup and entity. This was included in the brief to the bidders.
The business is easier to buy at a fire sale than a garage sale. (Doesn't take a genius to work out what I'm indicating).
The Bain meeting only took 32mins from the ELT presentation and was cut short at their request. Its clear they intend to run the business their own way.
Strawberry man hasn't returned any of Paul's calls since the presentations, nor that of the ELT this week.
Any hope information or perceptions intended for you to believe on Workplace is false, its their 'insurance' plan due to the prominent mental health issue the business has. (Lu dropped in convo their premium's had increased 31% because of recent incidents).

The Scurrah was never here for a long time, just a quick one. His history is of commitment to roles is barely 3 years and doesn't exactly leave a path of profitability from past organizations.
The remarks of #trustPaul etc, and #paul4pm are cringe worthy and shows the toxic culture VA has bred into their staff.

Anyone holding hope the Business will return to the size and complexity it was, is drunk at the wheel. Use this time to upskill and contingency plan, you'll likely need it.
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Old 23rd May 2020, 16:55
  #64 (permalink)  
 
Join Date: Sep 2019
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Didrechambers777

Have to agree with you on this. I would be surprised if Virgin had more than 20 planes at relaunch. If it comes back at all.

It's not being nasty, just reality.
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Old 23rd May 2020, 16:57
  #65 (permalink)  
 
Join Date: Feb 2001
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I do feel sorry for the brainwashed 'Cult' like followers. Its important to illuminate the truth behind the corrupted!
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Old 23rd May 2020, 22:04
  #66 (permalink)  
 
Join Date: May 2020
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Most CEO's bring their own people and clear the decks in the first 6 months, instead he had no one except Caz, Courtz and old Fiddly Fingers (more on the row 30 incident later).
They had their little pow-wow at the former Skase complex, Marina Mirage last year.... "Red Hot and relevant", they spruiked the 4 year road map ahead and how strong a position we're in and how the special sauce is back... again it was just hype. And so the COO was appointed, late night chats and a tap on the shoulder you have someone's first C-suite gig at an organisation that size and complexity, with other experience. Righto, that's recipe for success. The same person who contributed to the complexities now tasked to undo it all.... ha!

I don't think its Paul its more so the hype reel Dani's feeding him, besides she's just the contact book for Richard. Still making demands to stay at the Calile at every visit for $290 a night.

And so they pulled up the following morning for a training session with the Suns at 6am, after "pool time with paul'', few dusty, few knew they were on the way out and others knew they were on the way up. But where was the plan? What was it?

The plan was, there was no plan. Just slash and burn. That blacked out room in Alpha Ground with the hype reel on the outside, is empty. I'm sure the bidders are asking themselves, was this ever going to work with that volume of debt?
Who knows? But the 750 jobs never came close, it ended at 349. The second sweep was already underway after Keith screamed across the table "there won't be an airline in 12 months if you keep at this snail pace", that was Feb2020.

They knew they were in trouble, pre-covid and the H1 results spoke for themself. Tried to glaze COVID all over it, but it didn't affect Aus until late Jan/Feb.
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Old 23rd May 2020, 23:17
  #67 (permalink)  
 
Join Date: May 2002
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Originally Posted by didrechambers77 View Post
I mean this post for no ill intent but to clear the perceptions made already with a true reality check with from the inner circle.
Your unions have already been briefed for the number of losses on the way, for each workgroup and entity. This was included in the brief to the bidders.
The business is easier to buy at a fire sale than a garage sale. (Doesn't take a genius to work out what I'm indicating).
The Bain meeting only took 32mins from the ELT presentation and was cut short at their request. Its clear they intend to run the business their own way.
Strawberry man hasn't returned any of Paul's calls since the presentations, nor that of the ELT this week.
Any hope information or perceptions intended for you to believe on Workplace is false, its their 'insurance' plan due to the prominent mental health issue the business has. (Lu dropped in convo their premium's had increased 31% because of recent incidents).

The Scurrah was never here for a long time, just a quick one. His history is of commitment to roles is barely 3 years and doesn't exactly leave a path of profitability from past organizations.
The remarks of #trustPaul etc, and #paul4pm are cringe worthy and shows the toxic culture VA has bred into their staff.

Anyone holding hope the Business will return to the size and complexity it was, is drunk at the wheel. Use this time to upskill and contingency plan, you'll likely need it.
That's the horrible reality mate, how can I upskill in this environment and have a contingency? All I know is aviation. I only have one skill. Many factors have annihilated our savings as a buffer, when it all goes. We will be left with nothing, no house. Zero.

Not like I can go overseas either.
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Old 24th May 2020, 00:57
  #68 (permalink)  
 
Join Date: Jun 2010
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Originally Posted by Servo View Post
That's the horrible reality mate, how can I upskill in this environment and have a contingency? All I know is aviation. I only have one skill. Many factors have annihilated our savings as a buffer, when it all goes. We will be left with nothing, no house. Zero.

Not like I can go overseas either.
You are not the only one mate. People will find work elsewhere eventually, and never return to the aviation industry. It's just the sad truth of this situation, and there is nothing anyone can do about it.
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Old 24th May 2020, 04:43
  #69 (permalink)  
 
Join Date: Aug 2018
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I mean this post for no ill intent but to clear the perceptions made already with a true reality check with from the inner circle.Your unions have already been briefed for the number of losses on the way, for each workgroup and entity. This was included in the brief to the bidders. The business is easier to buy at a fire sale than a garage sale. (Doesn't take a genius to work out what I'm indicating).The Bain meeting only took 32mins from the ELT presentation and was cut short at their request. Its clear they intend to run the business their own way. Strawberry man hasn't returned any of Paul's calls since the presentations, nor that of the ELT this week.Any hope information or perceptions intended for you to believe on Workplace is false, its their 'insurance' plan due to the prominent mental health issue the business has. (Lu dropped in convo their premium's had increased 31% because of recent incidents).
Is this with or without the debt holders consent?? If they don't have the debt holders agreement nothing will be happening. The first thing any consortium needs to find out is what the debt holders will be agreeing to.
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Old 24th May 2020, 04:57
  #70 (permalink)  
 
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VA reminds me of the Titanic, "the pumps will buy time but only minutes", it's back is broken now all anyne can do is watch it go under leaving a wreckage of human hurt floating on the surface! -(
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Old 24th May 2020, 05:30
  #71 (permalink)  
 
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Originally Posted by non_state_actor View Post
Is this with or without the debt holders consent?? If they don't have the debt holders agreement nothing will be happening. The first thing any consortium needs to find out is what the debt holders will be agreeing to.
I think what he is getting at is the systemic endemic culture they have been trying to re-cultivate- RE: The 'fluffy' Virgin Blue days.

This, as 'fluffy' as it is to reminisce, has been causing more Mental Health issues amongst the staff. Combined with the 'Messiah' and the 'Cult' like following, pinning hopes on One person and 'The Team', being blindsided, is part of the reason I feel obliged to partake in these matters. The facts are there if you chose to do your research.

Everyone needs to take care of themselves. This industry will be decimated for many years to come.


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Old 24th May 2020, 06:03
  #72 (permalink)  
 
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If they don't have the debt holders agreement nothing will be happening. The first thing any consortium needs to find out is what the debt holders will be agreeing to.
I think that you have hit the nail on the head, this has been lost in all the sales hype.

This industry will be decimated for many years to come.
You know, I think we may be wrong in thinking like that, I think it will bounce back quicker and stronger than we realise. Lots of FOMO thinking will come out, "trip of a lifetime because who knows what is around the corner" type thinking. People wanting to take that trip they always dreamed of. Although many people have lost jobs, those in secure employment will have been saving money by not eating out, going to the pub or movies, music etc so they will be cashed up and happy to spend.
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Old 24th May 2020, 06:35
  #73 (permalink)  
 
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Icarus. Debt needs to be paid off with interest. Profit needs to come to pay debt. Many airlines are pretty much Bankrupt at the moment and so too, the manufacturers. Think what you might, but realistically again, putting aside the Economical scale (we are yet to 'FULLY' realise), the CV19 has been pretty successful at putting fear into peoples minds. The ones you speak of that want to travel, the 'Rebellion' type, will do so with what little cash they have left! In my opinion, there may be a 'bubble of growth' for the travel market for a Few months, then it will die again, holiday over. If a so called 'Second Wave' was to eventuate which is more than likely. What will happen then?

How much money you have in your savings for a holiday -Is the question!! People are living day to day these days and Im pretty sure most would rather buy a 20x20 pack of Toilet Paper than head to the Gold Coast for a holiday when the borders reopen again.

Just saying
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Old 24th May 2020, 07:08
  #74 (permalink)  
 
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No I disagree

The ones you speak of that want to travel, the 'Rebellion' type, will do so with what little cash they have left!
Well ALL state and federal government workers are getting paid aren't they? Heck the school teachers must be a tough bunch as all governments were prepared to send them to a school full of students (as a test?) Nurses, who are also tough, police, AOs etc etc Not rebellion types...

People are living day to day these days
Which people? Plenty for sure but not the majority I would suggest.
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Old 24th May 2020, 07:17
  #75 (permalink)  
 
Join Date: May 2008
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the 'Rebellion' type
There must be plenty of that type where I live. It took 20 minutes to find a parking spot at the shopping centre yesterday, it was like the lead up to Christmas! Look at the beaches in Europe, humans have very short memories.
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Old 25th May 2020, 03:05
  #76 (permalink)  
 
Join Date: May 2020
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Looks like a certain creditor is exercising their rights tonight gents, look out for another episode of Changing Rooms (not sure if its featuring Susie Willks)
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Old 25th May 2020, 21:07
  #77 (permalink)  
 
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Originally Posted by wishiwasupthere View Post
There must be plenty of that type where I live. It took 20 minutes to find a parking spot at the shopping centre yesterday, it was like the lead up to Christmas! Look at the beaches in Europe, humans have very short memories.
Yep, I have seen the same thing. I am at the point where I don't understand why gyms are closed they're more essential than Bunnings and much cleaner. Surely these rouge states will succumb to pressure to allow air travel sooner rather than later.
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Old 26th May 2020, 05:22
  #78 (permalink)  
 
Join Date: Jul 2007
Location: BAO
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ex itnews: Virgin Australia's loyalty CIO decamps to icare NSW

Link here: https://www.itnews.com.au/news/virgi...are-nsw-548555

Extract here:

Virgin Australia's loyalty CIO decamps to icare NSW

By Justin Hendry
May 26 2020
12:07PM


Caroline Rockett

Moves on after two years.

The chief information officer in charge of Virgin Australia’s loyalty scheme has made the jump to the NSW government’s nominal insurer after almost two years.

Caroline Rockett, who has been with Velocity Frequent Flyer since September 2018, joined icare NSW this week as its new digital and technology group executive.

She assumes the responsibility from chief operating officer Rob Craig, who has been acting in the role.........................................
Rgds
S28
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Old 26th May 2020, 05:55
  #79 (permalink)  
 
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Originally Posted by didrechambers77 View Post
Looks like a certain creditor is exercising their rights tonight gents, look out for another episode of Changing Rooms (not sure if its featuring Susie Willks)
Care to elaborate?
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Old 26th May 2020, 06:57
  #80 (permalink)  
 
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Originally Posted by normanton View Post
Care to elaborate?

https://www.actu.org.au/actu-media/m...dders-meetings

Perhaps ?
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