VA annual profit plunge of $110 mil
 

I'm sure executive bonuses are still safe?
Making shareholder returns at the higher end are probably not part of operation 'Game Change'?
Is this one of the reasons Donahue decided bail?

Virgin warns of $110 million loss

At least they are giving a profit guidance, unlike QF who have said nothing about the second half year.

Do not be surprised to see Tiger more profitable than Virgin next year.

Prolly just a beancounter's black magic
....see, they bought Tiger and Skywest this year.....so that's a writable loss, right?

Isn't tiger already?

A DreamLiner announcement soon should send the share price heading the right way at least..... :ok:

Why's that, BR?

A350 I think best rate.

A new type is probably the last thing VA needs.

A reality check for some methinks! :confused:

Virgin has had very poor return since it has been set up in Australia. They had far more years of loses than had profits. It seems to get harder for them each year, if that carbon tax was removed it would help them out a fair bit. $50 million it adds a lot to their bottom line.

Well Jarden, with any luck September 7 should take care of that.

Hold on a minute!

All the experts here were saying what a genius Borghetti is, how he will deliver, what a cock Joyce is and how he will destroy Qantas by letting Virgin take over etc etc etc.

Maybe Joyce at Qantas isn't so bad after all?

Just a topic conversation starter.

Il Deuce = Il Lame.
 

Does this mean Il Deuce and his footstool Tanner will engage in some lame HR roadshows preaching about the needs for cost cutting, efficiency, cutbacks in negotiated awards blah blah blah so that they can hold on to their ludicrous salaries and bonuses?
Borghetti stuffed up. He bought a chunk of Tiger which will return nothing for a couple of more years, he bought Skywest right at the time the mining industry turned downwards and he now has several different aircraft types and business models (didn't AN do that?).
John, quit blaming the carbon tax and stand up and be accountable. You haven't done a stellar job. And as stated earlier, VA has never been a great investment.
Rob Sherrard was the one who really hit the gravy train, not to forget Brett, Highfield, Gill and Ivanovski. Paydirt for the mates! As for everybody else.........flush!

When will management learn that pilots are always the smartest guys in the room and should be running airlines...

Some of the above comments are a joke. You lot complain when airlines only cut costs, now you are complaining about someone investing in the airline and improving the product. Yes, a bad result, but this has a long way to play out yet (and isn't quiet like Ansett either).

True, but name one airline that has ever been a good investment!

Buying Skywest was about the mining boom and getting more regional bums on jet seats between BNE-SYD-MEL-PER. Mining towns were the low hanging fruit, so no wonder they went after these towns first. The company is going to have to work a bit harder now. Buying 60% of Tiger was a strategic move to avoid two LCCs biting at VA's ankles, as well as keeping Singapore Airlines interested.

I think the one thing we can all agree on is getting the election over and done with can only be a good thing for the industry.

Last I heard Tanner was gone. But yes, I think cost control will be the big focus this year. No many pilots will be called off the hold file as a result.

Mate..... Virgin is just where Ansett was, except with lovely new planes. I'm not even sure how many types they operate, but I reckon it is more than Ansett and you can talk all you like about expansion, more new planes and buying other Airlines. You have to make some money or else the rumours will start, small at first then when the traveling public gets a whiff they will dump you quicker than you can say "Absolutely"!!!!!!!
I hope John gets it together. He is one of the best Airline CEO's I have ever seen when it comes to his staff. Good luck, because everyone has the right to go broke.

Short Term Pain = Long Term Gain
 

Borghetti takes the long view
1.Introduction of an upgraded Sabre Res system
2.Purchase of Tiger and SkyWest
....the clowns at QF only see as far as the next bonus cycle....and we can see how thats working out

Bad hat Harry, by upgraded res system (Sabre) I take it you mean the system that's let us down twice in 3 weeks? The debacle at Sydney 3 weeks ago and today's outage is doing nothing to help us keep passengers.

He is standing up.

:p:)

Virgin Blows 50 million on 'carbon'
 

Where did the money go ?

Shareholders must be happy...

Virgin Australia is paying plenty for Labor’s utterly useless carbon tax:

...The Company today also confirmed that the pre-tax costs of the carbon tax for the 2013 financial year are estimated to be between $45 million to $50 million and were unable to be recovered due to weak economic conditions and the competitive environment. As a result of these factors, Virgin Australia expects a statutory Loss After Tax in the range of $95 million to $110 million...

Cookies must be enabled. | The Australian


At least Branson could see the damage it would do to the airline...

"...Any tax should be done on a global basis, I think ideally, not on a country-by-country basis...
...if it disadvantages Australian companies and Australian people; anyway that's a question that Australians are going to have to ask themselves..."

PM - Branson criticises carbon tax, backs biofuels 06/07/2011











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