The future of VARA?
FNP is currently up for sale and withdrawn from service.
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VH- Foxtrot November Papa......
ex SkyWest according to this (be, the start of the Type, way back then...??) : VH-FNP Airbus A320-231
And, 3x AOC's (remain...) in the Group: https://www.casa.gov.au/search_aoc/V...nal%20Airlines
rgds
S28- BE
And, 3x AOC's (remain...) in the Group: https://www.casa.gov.au/search_aoc/V...nal%20Airlines
rgds
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Last edited by Section28- BE; 3rd Aug 2020 at 10:01. Reason: At, 'A' wild guess- 'work' required....????
ex SkyWest according to this (be, the start of the Type, way back then...??) : VH-FNP Airbus A320-231
And, 3x AOC's (remain...) in the Group: https://www.casa.gov.au/search_aoc/V...nal%20Airlines
rgds
S28- BE
And, 3x AOC's (remain...) in the Group: https://www.casa.gov.au/search_aoc/V...nal%20Airlines
rgds
S28- BE
Interesting to note that the Tiger AOC was re-issued in June and is current till 2023. All the other Virgin AOCs (domestic, international and regional) were re-issued in May.
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Is it listed online anywhere?
She’s had quite an operational history.
Given what alliance just paid for their E190 deal it mustn’t be worth much.
That guy in NZ, Mike Pero is yet to announce which carrier he’s partnered with on Christchurch - Rarotonga to operate charter flights.
Could’ve been some good extra revenue work for Virgin group.
Especially given they have operational experience on that route with VAINZ only a couple of years ago.
She’s had quite an operational history.
Given what alliance just paid for their E190 deal it mustn’t be worth much.
That guy in NZ, Mike Pero is yet to announce which carrier he’s partnered with on Christchurch - Rarotonga to operate charter flights.
Could’ve been some good extra revenue work for Virgin group.
Especially given they have operational experience on that route with VAINZ only a couple of years ago.
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ex: the FED COURT- Hughes, in the matter of Vah Newco No. 2 Pty Ltd.....
Judgment, ex the Proceedings of 30 July 2020- published today 04/08/2020.
Shall just drop this here, 'should' it be of interest: https://www.fedcourt.gov.au/__data/a...0-FCA-1121.pdf
rgds all
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Shall just drop this here, 'should' it be of interest: https://www.fedcourt.gov.au/__data/a...0-FCA-1121.pdf
rgds all
S28- BE
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ex ASX: ASX RELEASE Virgin Australia Holdings.......
ASX Link here: https://www.asx.com.au/asxpdf/202008...hmj7fsgdg4.pdf
Extract:
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Extract:
The Group will move to an all-Boeing 737 mainline fleet for domestic and short haul operations which will see the removal of ATR, Boeing 777, Airbus A330 and Tigerair Airbus A320 aircraft. The Group’s regional and charter fleet will remain, while the company reviews options at Virgin Australia Regional Airlines (VARA), including different operating models to support continued regional and charter flying.
S28- BE
Judgment, ex the Proceedings of 30 July 2020- published today 04/08/2020.
Shall just drop this here, 'should' it be of interest: https://www.fedcourt.gov.au/__data/a...0-FCA-1121.pdf
rgds all
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Shall just drop this here, 'should' it be of interest: https://www.fedcourt.gov.au/__data/a...0-FCA-1121.pdf
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FACTUAL BACKGROUND
13 On 7 June 2018, Mr Hughes was engaged by the Virgin Group to assist in deregistering or winding up dormant entities or entities with limited or no assets within the Virgin Group.
14 The Companies were identified as falling into that category and, on 26 April 2019, Mr Hughes was appointed as the liquidator of each of the Companies pursuant to s 491(1) of the Corporations Act 2001 (Cth) (the ‘Corporations Act’) by special resolution passed by Virgin Australia Airlines Holdings Pty Ltd, the sole shareholder of each of the Companies. Declarations of solvency were signed by the directors.
15 The Liquidator prepared statutory lodgements and invited proofs of debt to be lodged, but thus far no proofs have been lodged and no claims have been notified.
16 While it was initially thought that the Companies were dormant entities with no liabilities, Mr Hughes says he now understands that:
(1) VB Investco and VAH Newco 2 is each a party to a deed of cross-guarantee dated 18 June 2007 (the ‘DOCG’), including with certain other companies in the Virgin Group, which provides that upon the winding up of an entity to the DOCG (either in insolvency or as a creditor voluntary winding up), each other entity to the DOCG is liable for its debts; and
(2) VAH Newco 2 is a guarantor of the following notes (the ‘Notes’) issued by VAH:
(a) the ‘VAH Unlisted 2018 Notes’: AUD$150,000,000 (face value) of 8.25% unsecured Fixed Rate Notes issued by VAH on 30 May 2018 and due for repayment on 30 May 2023;
(b) the ‘VAH Unlisted 2019 Notes’: AUD$250,000,000 (face value) of 8.075% unsecured Fixed Rate Notes issued by VAH on 5 March 2019 and due for repayment on 5 March 2024; and
(c) the ‘USD 2016 Senior Notes’: USD$350,000,000 (face value) of 7.875% Senior Notes issued by VAH and due for repayment on 15 October 2021.
13 On 7 June 2018, Mr Hughes was engaged by the Virgin Group to assist in deregistering or winding up dormant entities or entities with limited or no assets within the Virgin Group.
14 The Companies were identified as falling into that category and, on 26 April 2019, Mr Hughes was appointed as the liquidator of each of the Companies pursuant to s 491(1) of the Corporations Act 2001 (Cth) (the ‘Corporations Act’) by special resolution passed by Virgin Australia Airlines Holdings Pty Ltd, the sole shareholder of each of the Companies. Declarations of solvency were signed by the directors.
15 The Liquidator prepared statutory lodgements and invited proofs of debt to be lodged, but thus far no proofs have been lodged and no claims have been notified.
16 While it was initially thought that the Companies were dormant entities with no liabilities, Mr Hughes says he now understands that:
(1) VB Investco and VAH Newco 2 is each a party to a deed of cross-guarantee dated 18 June 2007 (the ‘DOCG’), including with certain other companies in the Virgin Group, which provides that upon the winding up of an entity to the DOCG (either in insolvency or as a creditor voluntary winding up), each other entity to the DOCG is liable for its debts; and
(2) VAH Newco 2 is a guarantor of the following notes (the ‘Notes’) issued by VAH:
(a) the ‘VAH Unlisted 2018 Notes’: AUD$150,000,000 (face value) of 8.25% unsecured Fixed Rate Notes issued by VAH on 30 May 2018 and due for repayment on 30 May 2023;
(b) the ‘VAH Unlisted 2019 Notes’: AUD$250,000,000 (face value) of 8.075% unsecured Fixed Rate Notes issued by VAH on 5 March 2019 and due for repayment on 5 March 2024; and
(c) the ‘USD 2016 Senior Notes’: USD$350,000,000 (face value) of 7.875% Senior Notes issued by VAH and due for repayment on 15 October 2021.
So this would be one of the more interesting pieces.
Mr Hughes was appointed two years ago to tidy up dormant corporate entities and not only hadn't he managed to make much headway in that period, it took the business being placed into administration for him to realise that two of companies that he was meant to have been liquidating weren't dormant at all.
Mr Hughes was appointed two years ago to tidy up dormant corporate entities and not only hadn't he managed to make much headway in that period, it took the business being placed into administration for him to realise that two of companies that he was meant to have been liquidating weren't dormant at all.
Is it listed online anywhere?
She’s had quite an operational history.
Given what alliance just paid for their E190 deal it mustn’t be worth much.
That guy in NZ, Mike Pero is yet to announce which carrier he’s partnered with on Christchurch - Rarotonga to operate charter flights.
Could’ve been some good extra revenue work for Virgin group.
Especially given they have operational experience on that route with VAINZ only a couple of years ago.
She’s had quite an operational history.
Given what alliance just paid for their E190 deal it mustn’t be worth much.
That guy in NZ, Mike Pero is yet to announce which carrier he’s partnered with on Christchurch - Rarotonga to operate charter flights.
Could’ve been some good extra revenue work for Virgin group.
Especially given they have operational experience on that route with VAINZ only a couple of years ago.
Could you expand on that, without identifying anyone? Did they stick to their guns regarding pay and conditions? Cheers.
Virgin is as of yesterday no longer in administration..
Why anyone would advocate a change in conditions is beyond me.
Bain bought the business knowing the employee conditions. If they can’t make it work they shouldn’t have bought the business.
I guarantee otherwise they’ll be walking away in 3-4 years time slapping their back about how much money they made at everyone else’s expense. It’s why private equity never has a face to lay the blame on
Why anyone would advocate a change in conditions is beyond me.
Bain bought the business knowing the employee conditions. If they can’t make it work they shouldn’t have bought the business.
I guarantee otherwise they’ll be walking away in 3-4 years time slapping their back about how much money they made at everyone else’s expense. It’s why private equity never has a face to lay the blame on
Evertonian
