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-   -   JT leaving Virgin this week (https://www.pprune.org/australia-new-zealand-pacific/596486-jt-leaving-virgin-week.html)

rexxxxxy 29th Jun 2017 11:15

JT leaving Virgin this week
 
Announced by JB today. John Thomas leaving end of the week.

Tiger CEO Rob Sharp to take over in acting capacity.

Tiger HOFO Peter Wilson to be acting Tiger CEO.

No doubt left not on good terms.

Not good for Virgin.

The Bullwinkle 29th Jun 2017 11:32


Not good for Virgin.
Understatement of the decade!

SHVC 29th Jun 2017 11:49

VA must be in a very bad way if he has done this already.

Better get my apps in and beat the rush, he obviously is!

downdata 29th Jun 2017 12:07

Senior Virgin Australia executive John Thomas heads for the exit | afr.com

Berealgetreal 29th Jun 2017 12:36

Bit of turn over in upper management....

Falling Leaf 29th Jun 2017 12:43

I got so excited when I saw the email's title...

That quickly turned to depression when I saw that the wrong person was going.

JT's mistake was that he knew how to make money and run an airline, a mistake Chris Luxton also made - in that they both obviously showed a certain someone up.

romeocharlie 29th Jun 2017 13:25

Can't wait for the shareholders meeting this year. If they thought last year was bad, this one will be a bloodbath. :ouch:

Gate_15L 29th Jun 2017 13:35

https://encrypted-tbn1.gstatic.com/i...lIAaPkfRp5NfA7

27/09 29th Jun 2017 20:06


Originally Posted by Falling Leaf (Post 9815939)
I got so excited when I saw the email's title...

That quickly turned to depression when I saw that the wrong person was going.

JT's mistake was that he knew how to make money and run an airline, a mistake Chris Luxton also made - in that they both obviously showed a certain someone up.

Hmmmm, I don't know about JT but I'm pretty sure Mr Luxton's apparent success is largely due to things his predecessor put in place and the drop in fuel prices. I don't think there's any way you could stretch it to say he showed anyone up or Air New Zealand's current financial returns can be directly attributed to CL.

Anyhow, back to the topic of the thread.

Falling Leaf 29th Jun 2017 21:30

There aren't many reasons why a senior exec would leave after 12 months. Two main ones would be...

1. Personality clash at the top making it impossible to do one's job, or
2. Inside knowledge that the place is a house of cards and about to collapse.

Either one of those is not good for the staff at Virgin.

Oakape 29th Jun 2017 22:12

The way it unfolded looks more like a dismissal than a resignation. None of the usual 'spending more time with family', seeking a new challenge', or 'taking advantage of an exciting new opportunity' comments. In fact, no comments at all at this stage. This is going to rattle quite a few in the organisation. He was promoted to the extent that people thought he was to be the saviour of the airline & now he's out so quick that you would have missed it if you blinked. Interesting times ahead.

chuboy 29th Jun 2017 22:56

"It's understood Virgin management decided he was not the right fit for the role."

t_cas 29th Jun 2017 23:31


Originally Posted by chuboy (Post 9816562)
"It's understood Virgin management decided he was not the right fit for the role."

Or the pineapple wouldn't fit.

B772 30th Jun 2017 00:25

Looks like Virgin Aust shares are going to open at their lowest price ever.

TBM-Legend 30th Jun 2017 01:04

I laugh when I read the early stuff about Virgin and that JB was the Messiah [when really he's just a naughty boy].

The proof is in the pudding as they say. No matter how much spin people put on the performance of VA it has turned out to be nothing more than a revisit of the last days of Ansett. Now propped up by foreign cash and very slow to pay creditors [inside source] and from a couple of creditors I know...

The Bullwinkle 30th Jun 2017 01:37


"It's understood Virgin management decided he was not the right fit for the role."
Of course he wasn't the right fit. He actually had some idea how to run an airline!

cavemanzk 30th Jun 2017 07:36

Time to close VA down and let the staff get on with there life, not have to worry about there jobs any longer.

Best option would be to wind VA/TT down and sell there assets and leases off, so that Australia is able to keep an reasonable amount of airservice going without an major effect, while keeping some competition. I would break the airlines fleet up by NZ and QF as they would have to pick the slack.

QF:
- Takes 75% of VA 738 fleet and crew
- QF will use the 738 to fill gaps left by VA

NZ:
- Takes VA/TT A320s and crew
- NZ use the A320 to run an one the hour service between SYD/MEL/BNE
- Takes VA 77W's and crew
- NZ uses TT 320 AOC to use as an base for there AU Operation, 77Ws are moved to the ZK register.

A330, ATRs would all be returned to lessors or sold if owned.

Berealgetreal 30th Jun 2017 07:44

Oh dear that sounds a bit dire.

Gate_15L 30th Jun 2017 07:49


Originally Posted by cavemanzk (Post 9816817)
Time to close VA down and let the staff get on with there life, not have to worry about there jobs any longer.

Best option would be to wind VA/TT down and sell there assets and leases off, so that Australia is able to keep an reasonable amount of airservice going without an major effect, while keeping some competition. I would break the airlines fleet up by NZ and QF as they would have to pick the slack.

QF:
- Takes 75% of VA 738 fleet and crew
- QF will use the 738 to fill gaps left by VA

NZ:
- Takes VA/TT A320s and crew
- NZ use the A320 to run an one the hour service between SYD/MEL/BNE
- Takes VA 77W's and crew
- NZ uses TT 320 AOC to use as an base for there AU Operation, 77Ws are moved to the ZK register.

A330, ATRs would all be returned to lessors or sold if owned.

https://encrypted-tbn1.gstatic.com/i...pnQZ7sCtoixaIe

coaldemon 30th Jun 2017 07:59

Some interesting points in Cave Man's response.

B777- Yep that is actually what Air NZ was chasing. Reality though is NZALPA wouldn't allow them to jump the list to maintain commands etc.
QF taking on VA's aircraft. Nope not going to happen. Easier to follow the AN collapse model. Let someone else deal with the leased aircraft and organise your own as well as short term crew (In 2001 it was actually AN crew on the B737)
A330's. Yep have to go. High leases for what is now a highly depreciated aircraft in the second hand market. i.e Book value V actual Value is shall we say a bit different
ATR's Same as above.
NZ would be nuts to take TT's A320's (mostly on shorter leases) as they could get new ones pretty fast from Airbus if they needed them.

End result is unless there is a huge hidden issue at VA they won't be shutting down anytime soon or having an administrator appointed. All the above is speculation at the higher end of the market.

Also you can't really sell leases. You can subject to your lease requirements do a sub lease but that is usually dependent on the owner of the aircraft. Since the lease rates are so not that competitive in the market I would be surprised if they are attractive aircraft for this purpose.


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