Virgin 3.1
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Virgin 3.1
The Australian Securities and Investments Commission has reveal for the first time the full scale of the airline’s strife before it was rescued - a $3.1bn loss in the year ending June 30, 2020, and it is carrying an ongoing debt of $1.2 bn.
Under the leadership of Borghetti and then ‘Scuz’, the airline was dead in the water and COVID banged the final nail in its coffin. So as much as people hate Bain and Mrs Jayne, without the two of them there would be no Virgin Australia at all, and in turn there would literally be no pilots, cabin crew and other Human Resources that make an airline possible.
My fear is that with current rumours being that International flying won’t resume until 2022, and that is very possible considering this pandemic is now in its 16th month, what is the Government going to do to ensure all of our domestic airlines stay alive??
Under the leadership of Borghetti and then ‘Scuz’, the airline was dead in the water and COVID banged the final nail in its coffin. So as much as people hate Bain and Mrs Jayne, without the two of them there would be no Virgin Australia at all, and in turn there would literally be no pilots, cabin crew and other Human Resources that make an airline possible.
My fear is that with current rumours being that International flying won’t resume until 2022, and that is very possible considering this pandemic is now in its 16th month, what is the Government going to do to ensure all of our domestic airlines stay alive??
Virgin Australia chief executive Jayne Hrdlicka says she’s prepared to wear the financial pain of ultra low airfares of $39 between key destinations like Sydney and Melbourne for an extended period to ensure passenger volumes rebuild.
“The pain of it for the first two or three, to get the next twenty-five, you know it works,” she said at a hotels conference in Adelaide on Thursday.
“We need to get the volume back in the industry,” she said.
Virgin CEO Jayne Hrdlicka with the backdrop of Adelaide Oval. Ben Searcy
“Whatever the price it’s going to take to get people back in the air that’s what we’re going to support for a while,” she told the AHICE conference.
But there would be a point where those extremely low fares ended, and fares costing $79, $99 or $115 became more prevalent.
“The pain of it for the first two or three, to get the next twenty-five, you know it works,” she said at a hotels conference in Adelaide on Thursday.
“We need to get the volume back in the industry,” she said.
Virgin CEO Jayne Hrdlicka with the backdrop of Adelaide Oval. Ben Searcy“Whatever the price it’s going to take to get people back in the air that’s what we’re going to support for a while,” she told the AHICE conference.
But there would be a point where those extremely low fares ended, and fares costing $79, $99 or $115 became more prevalent.
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Each to their own I suppose; I am just happy I am living in a country where public health is taken seriously and not somewhere like India. The bottom line is both NZ and Australia are both significantly better off than countries that didn't implement appropriate measures and had their economies destroyed. I've been out for dinner with the missus this evening, I can do that because of those measures, Try saying that in the USA, UK, mainland Europe, etc....
Each to their own I suppose; I am just happy I am living in a country where public health is taken seriously and not somewhere like India. The bottom line is both NZ and Australia are both significantly better off than countries that didn't implement appropriate measures and had their economies destroyed. I've been out for dinner with the missus this evening, I can do that because of those measures, Try saying that in the USA, UK, mainland Europe, etc....
Nope. Currently stood down, stood up, stood down again. Pilots gave her and exec team benefit of the doubt and helped with an MOU to allow flexibility during ramp up. The company keeps extending the MOU, which allows phases of pay. Most are on 50%.
SERVO, I suppose there will come a time when the schedule will stabilize to a new norm. Once that occurs, as unpalatable as it may be, those on the bottom of the seniority list may have to face redundancy. If that doesn’t happen, then the practice of rolling stand ups/stand downs will only serve to severely disrupt the lives of all VA pilots.
Maybe that’s what management wants?
Maybe that’s what management wants?
I’m sorry to hear it On Guard. The pilots who lost their jobs at Virgin and Tiger deserved better. I know there’s a lot of hard luck stories in aviation at the moment and I really feel for all the pilots out of work.
Speaking of former VA management. Former VA board member, former EY CEO and BFF of John Borghetti; James Hogan busted for violating mandatory quarantine in the UK.
https://simpleflying.com/etihad-ceo-uk-quarantine/
https://simpleflying.com/etihad-ceo-uk-quarantine/
Of the 5 77Ws, one was leased (VH-VOZ) and this plane has been returned to lessor. The other 4 were owned and remain parked. I'm unsure who actually owns these planes now as they were encumbered so it is possible they are now owned by the banks that lent money to pre-administration VA and who took the 777s as security. Either way, the market for pre-owned 77Ws is dire so they probably won't be flying for anyone anytime soon.
So if it is true or not I have no idea but do hope they find their way back to a job again soon.
There also appears to be one heck of a list of boys and girls trying to get back in the game from VANZ, Tiger and others unfortunately who all were shafted as well. I personally know a handful who haven’t touched a plane in a damn long time now, not for lack of trying their butts off.
The wide body crews were fired out of seniority even though the shut down and administration affected the entire operation. It was a poisoned chalice. Filled with the promise (negotiated) of conditional return which is currently looking like being reneged by incumbent rulers.
18-20 year veterans of the company, unceremoniously shown the door. Not to diminish any other pilots situation, but these events have brought out some of the best in colleagues. It has also, unfortunately, reminded us of some of darkness residing in a small number of others…..
I certainly hope that cool heads prevail and the only whining we hear again, is that of turbines.
18-20 year veterans of the company, unceremoniously shown the door. Not to diminish any other pilots situation, but these events have brought out some of the best in colleagues. It has also, unfortunately, reminded us of some of darkness residing in a small number of others…..
I certainly hope that cool heads prevail and the only whining we hear again, is that of turbines.