Go Back  PPRuNe Forums > PPRuNe Worldwide > Australia, New Zealand & the Pacific
Reload this Page >

Bain: Virgin Australia needs to be more like Virgin Blue

Australia, New Zealand & the Pacific Airline and RPT Rumours & News in Australia, enZed and the Pacific

Bain: Virgin Australia needs to be more like Virgin Blue

Old 1st Jun 2020, 13:20
  #41 (permalink)  
 
Join Date: Sep 2019
Location: Mexico City
Posts: 658
Likes: 0
Received 2 Likes on 2 Posts
Sunfish,

Evething you say is true but Virgin employees and suppliers couldn't give two hoots who takes over the company. As long as they are taking home a paycheck every week because that is their primary concern.

Contracts, ownership structures etc are about 187th on the list of worries for Virgin employees right now.

What happens in 2 years time isn't a priority when you don't have a paycheck.

Last edited by Climb150; 1st Jun 2020 at 21:37.
Climb150 is offline  
Old 1st Jun 2020, 21:03
  #42 (permalink)  
 
Join Date: Aug 2002
Location: no fixed address
Posts: 181
Likes: 0
Received 0 Likes on 0 Posts
I am a Virgin employee, and I do give two, if not three hoots who buys into our company. I would rather not go through this again, if possible. Not that I have any control over it though!
VH-ABC is offline  
Old 1st Jun 2020, 21:37
  #43 (permalink)  
 
Join Date: Jan 2019
Location: Australia
Posts: 217
Received 1 Like on 1 Post
Originally Posted by Climb150
Sunfish,

Evething you say is true but Virgin employees and suppliers couldn't give two hoots who takes over the company. As long as they are taking home a paycheck every week because that is their primary concern.

Contracts, ownership structures etc are about 187th on the list of worries for Virgin employees right now.

Nobody cares what will happen in 2 years.
I too am someone who cares what happens in 2 years time. As a pilot - I want an entire career with Virgin, so itís vitally important to me that this place is around in 2/5/20 years time.

Whatís going to be important about who takes over is what the plan for staff numbers as well as terms and conditions are. I am concerned about what I read about Bain - and I feel Sunfish is spot on about what he wrote above.

There is a good article in the AFR today also saying that there is the real possibility of 1000s of jobs that could be lost. The CEO is starting to change his tune on this front, recently saying that not everyone will be here at the end of this process. The issue is that there is a lot of Ďhead in the sandí by employees at the moment - no one is really too concerned about their jobs, when they absolutely should be.

There is a lot of posturing going on by the ACTU and TWU. Itís all good and well to want as many full time jobs as possible on current Ts and Cs - but at what cost? Itís disingenuous for these unions to not be addressing the elephant in the room. There will be job losses - so what are these unions going to do about it? From a pilots perspective, I hope my unions goal is to keep as many pilots as possible - giving people the option of Part Time, and perhaps even the unpopular idea of a reduction in pay to keep everyone employed.

If an airline pilot is made redundant at the moment, the likelihood of them continuing in a career in aviation is significantly reduced. Many of my colleagues have young families, new homes, etc etc, so if I have to take a bit of a hit to ensure these people arenít out on the street, then so be it.
Colonel_Klink is offline  
Old 1st Jun 2020, 21:41
  #44 (permalink)  
 
Join Date: Sep 2019
Location: Mexico City
Posts: 658
Likes: 0
Received 2 Likes on 2 Posts
I will rephrase. Few people will care who buys Virgin as long as they keep their job and the new owners don't go bust in the first 2 years. At least that way the aviation sector may have recovered enough for people who aren't happy with the new owners to move on.
Climb150 is offline  
Old 1st Jun 2020, 23:25
  #45 (permalink)  
 
Join Date: Oct 2010
Location: Australia
Age: 52
Posts: 123
Likes: 0
Received 0 Likes on 0 Posts
Agree with ya C Klink

its nice to be able to discuss these issues without that **** Paragraph377 hijacking every thread related to Virgin.
I think the big areas of concerns for the pilot group with regards to whom takes over will be what parts of the airline are to be saved and what’s going to get the chop.
The majority of my mates on the 737 seem reasonably confident of keeping their jobs in some form or another but those on the 330,777,ATR and Fokker are all understandable concerned as to the future make up of the airline. At this stage both BGH and Bain seem to more focused on a reduced single fleet operation at least to begin with at least. Where that leaves VARA, Widebody and ATR pilots is the 6 million dollar question.

Something like 450 pilots have already been made redundant with the closing down of VANZ and Tigerair pilot group. The thought of another 300-400 pilots joining them is truely terrifying and hopefully will be the AFAP and VIPA’s major focus in protecting jobs.


bangbounceboeing is offline  
Old 1st Jun 2020, 23:47
  #46 (permalink)  
 
Join Date: Dec 2001
Location: Australia
Posts: 197
Likes: 0
Received 0 Likes on 0 Posts
The AFR is now reporting that Bain is the hot contender with Carla set to replace Scurrah. Bid results later today.

I would be waiting to see the creditor's reaction to the successful bidder's offer before getting too excited.

And that's if there is a successful bid.
Arctaurus is offline  
Old 2nd Jun 2020, 00:06
  #47 (permalink)  
 
Join Date: Sep 2002
Location: Australia
Posts: 751
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by Arctaurus
The AFR is now reporting that Bain is the hot contender with Carla set to replace Scurrah. Bid results later today.

I would be waiting to see the creditor's reaction to the successful bidder's offer before getting too excited.

And that's if there is a successful bid.
I just donít understand how Hardlicker keeps turning up in these top jobs.
The Bullwinkle is offline  
Old 2nd Jun 2020, 00:09
  #48 (permalink)  
 
Join Date: Jul 2007
Location: BAO
Posts: 0
Likes: 0
Received 0 Likes on 0 Posts
Ex; the AFR: Bain hot favourite for Virgin final round.......

Link here: https://www.afr.com/street-talk/bain...0200602-p54yl7

Extract here:
-Street Talk

Bain hot favourite for Virgin final round

Sarah Thompson, Anthony Macdonald and Tim Boyd

Jun 2, 2020 – 9.42am

It's all quiet on the Virgin Australia front; there's still no shortlist to be seen.

Bidders are restless, Deloitte and its camp have gone to ground, the clock's ticking and there's plenty at stake.

However, one hot favourite has emerged for the auction's final round.

Bain Capital's Mike Murphy: "We are formulating our strategy on exactly where Virgin should be positioned."

Sources said Bain Capital came out of Monday's clarification process as the bidder most likely to be shortlisted.

Should Deloitte and Co (Morgan Stanley, Houlihan Lokey and Clayton Utz) stick to two bidders in the final round theory, that would leave only one spot for the other four contenders BGH Capital, Indigo Partners, Cyrus Capital and Canada's Brookfield (which re-emerged despite walking from the process more than a fortnight ago).

Bain's early favouritism spells bad news for Virgin boss Paul Scurrah, who laid out what other bidders think is a credible vision for Virgin and made no secret of his ambitions to lead the company under new owners. Bain has ex-a2 Milk Company and Jetstar boss Jayne Hrdlicka on board and she's expected to take Scurrah's job should Bain end up buying the airline.

Bidders expect to find out their fates later on Tuesday.

more to come
Rgds all
S28- BE

Last edited by Section28- BE; 2nd Jun 2020 at 00:31.
Section28- BE is offline  
Old 2nd Jun 2020, 00:40
  #49 (permalink)  
 
Join Date: Nov 2005
Location: UK
Posts: 137
Likes: 0
Received 0 Likes on 0 Posts
I just don’t understand how Hardlicker keeps turning up in these top jobs
Carla has a long relationship going back years with Bain
Led Zeppelin is offline  
Old 2nd Jun 2020, 00:58
  #50 (permalink)  
 
Join Date: May 2020
Location: Village
Posts: 26
Likes: 0
Received 0 Likes on 0 Posts
Paul's prezzo indicated 1300 cabin crew jobs gone by end of year, do the maths boys.
didrechambers77 is offline  
Old 2nd Jun 2020, 01:02
  #51 (permalink)  
 
Join Date: Oct 2007
Location: Australia
Posts: 117
Likes: 0
Received 0 Likes on 0 Posts
Carla was one of the Bain lead consultants at Ansett. Her MO hasn't changed. But she will prevail, she always does
Pundit is offline  
Old 2nd Jun 2020, 01:24
  #52 (permalink)  
 
Join Date: Nov 2005
Location: UK
Posts: 137
Likes: 0
Received 0 Likes on 0 Posts
But she will prevail, she always does.....
Until she's fired - The problem is it takes years to rebuild something that has been destroyed, just look at the Jetstar experience with the deadly duo and the effect it had on that organisation.
Led Zeppelin is offline  
Old 2nd Jun 2020, 04:18
  #53 (permalink)  
 
Join Date: May 2002
Location: In a box
Posts: 345
Received 6 Likes on 3 Posts
Originally Posted by Led Zeppelin
Until she's fired - The problem is it takes years to rebuild something that has been destroyed, just look at the Jetstar experience with the deadly duo and the effect it had on that organisation.
For those that are not at Jetstar or have friends there, what was the effect? I assume it wasnt pretty, hence the comment.

As an employee of Virgin, with a minority vote in the Administration, would be good to know what to avoid, if possible!

Cheers
Servo is offline  
Old 2nd Jun 2020, 06:17
  #54 (permalink)  
 
Join Date: Apr 2010
Location: Asia
Posts: 1,030
Likes: 0
Received 0 Likes on 0 Posts
How soon will Indigo apply for its own AOC?
wheels_down is offline  
Old 2nd Jun 2020, 06:35
  #55 (permalink)  
 
Join Date: Aug 2000
Location: International
Age: 75
Posts: 1,386
Received 3 Likes on 3 Posts
Readers may be interested to know Blackstone purchased 2 seaplane operators in 2013 for a total of USD98M. The 2 operators were combined into the one operator and tarted up by spending a further USD6M. Four years later Blackstone sold the operation to another private equity firm xxxx xxxxxxx for around USD500M, a 4.8 times return multiple on their investment. Who said there is no money in aviation. Welcome to the world of private equity, venture capital and Bob's Discount Furniture a major asset of Bain Capital.
B772 is offline  
Old 2nd Jun 2020, 07:14
  #56 (permalink)  
 
Join Date: Dec 2001
Location: Brisvegas
Posts: 3,677
Likes: 0
Received 71 Likes on 40 Posts
And the Sh$t just hit the fan:
That is a strange comment to make about the process progressing.
Icarus2001 is offline  
Old 2nd Jun 2020, 07:21
  #57 (permalink)  
 
Join Date: May 2008
Location: Australia
Posts: 565
Likes: 0
Received 0 Likes on 0 Posts
How soon will Indigo apply for its own AOC?
Could they tie up with Rex?
wishiwasupthere is offline  
Old 2nd Jun 2020, 07:40
  #58 (permalink)  
 
Join Date: Oct 2016
Location: Most locked down city in the world
Posts: 546
Likes: 0
Received 0 Likes on 0 Posts
So why not all the losers apply for their own AOC that would make 7 or 8 airlines. Unsustainable but wow, jobs
for everyone. One year later their will be mergers galore back to 3 airlines.
Turnleft080 is offline  
Old 2nd Jun 2020, 07:53
  #59 (permalink)  
 
Join Date: Jun 2019
Location: Denmark
Posts: 0
Likes: 0
Received 0 Likes on 0 Posts
Anyway its been culled down to two, which one is best, Bain or Cyrus?! both have different ideas. Cyrus have an interesting plan and how much more than 3.5 billion is being offered.
Ragnor is offline  
Old 2nd Jun 2020, 09:20
  #60 (permalink)  
 
Join Date: May 2002
Location: In a box
Posts: 345
Received 6 Likes on 3 Posts
I can see why Bain has kept her on and will keep her on in Virgin. She gave Bain and Co. $19 million in consultancy fees whilst at A2 milk.............

Maybe Cyrus might be the better of the two given their idea's.

Interesting that Brookfield was not a finalist................ If what you mentioned Blackout is on the money.
Servo is offline  

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell or Share My Personal Information

Copyright © 2023 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.