The name Virgin will be gone. Can't see the administrators paying Branson a cent.

So the GDOJ is dead then.

Rebirth under the V Australia Brand? Could just use a big off white sticker over the “irgin”

Good luck one and all, I truely hope something better rises from this mess.

"Velocity Air"? Paint over the Virgin on the white tail, paint over the "Virgin Australia" on the fuselage and stick the Velocity logo on the fuselage?

Voluntary Administration

Statement to be made on Tuesday

Special comments.
Special comments from failed Howard MP Jackie Kelly “Just a blip”

Didn't take them long to pull their frequent flyer store to stop people redeeming points in a last minute rush!

Seven News just announced the 'collapse' a few minutes ago...

Deloitte to handle the admin.

This might just show how inept Joyce is.
A government bailout that would have kept VA loaded up with debt that he might need soon too or
A lean aggressive full service carrier operating under a much better financial position.
not since he ran crying like a bitch to the government for a handout has he made such a poor management decision.....time will tell.
Not so good for all the staff, but a lifeline to some?

Tragic, the destruction now begins! RIP VA, you kept the bastards honest (for a while)

It is not a 'collapse'.

Deloittes have been appointed Administrators.

No announcements have been made regarding the Company operation but until the Administrator makes an announcement, the Company is still trading. I suspect the shareholders, creditors, the Company and the Australian Government will be anxious to explore every avenue to keep the company operating.

So on regards to my query (on page 38) of this thread...looks like i can't get a refund. My flight was PER-MEL-PER in November. I didnt cancel flight and have flight put into credits before announcement was made to have VA put into voluntary administration. Looks like ive lost it all and lools like ive lost my frequent flyer points too

Big deal.....

You are now a Creditor of Virgin: your refund and Frequent Flyer points are in limbo.

Wait for the Administrator's Report to Creditors. This is not necessarily a re-run of 4 March 2002.

I suggest if this is a re-run of 4 March 2002 God help the Australian domestic airline passengers who are about to get screwed - which the Federal Government will be acutely aware of.

The 29 October 2011 was the day Qantas lost the trust and support of the Australian people, which I doubt will ever be recovered.

None of this is necessarily true yet. Wait for the administrators to make an announcement on how they will handle things, so many outcomes possible it’s not even worth speculating just yet.

Weren't they always aggressive? Isn't this a reason for their downfall?

But it's probably a re-run of September 2001 when the 2 Marks tried to keep the operation going through "Ansett MK 2".

Administration puts a wall between the company and the creditors. There may be actions to repossess aircraft by leasing creditors very quickly, so the Administrators will need to move fast if the base assets are to be preserved for a new start up. Interesting to see what the copyright and ownership status is of the "Virgin Australia" logo, because it would clearly be a familiar asset in a future operation.

They weren't aggressive at controlling their cost base and they weren't aggressive at controlling how leveraged the company became. Similar overall amount of debt to Qantas with only 1/3 the revenue. That's not smart and that all becomes very exposed during a black swan event like this....

I was told by a friend that I had to cancel my flight before VA announced voluntary administration. That way my flight would of gone into credit and id get some sort of refund back as id be a creditor. But seeing as though I didnt do that - my flight still stands as normal and scheduled for November and i will lose money on the airfare cos VA have now announced voluntary administration. Bear in mind that my flight was a cheap airfare and non-refundable.

So does it matter either way? I lose out anyway regardless if i cancelled flight and asked to put flight into credits or left it as it was which i did? Is this correct?

Take your cheap airfare refund dramas elsewhere thanks. This is about VA and it’s people.

Hope you paid on a credit card. This isn't the right thread for this. There are crew here who have worked for 18+ years at the company, and they don't want to hear your complaint over a cheap ticket.

No, I am asking a question. If you have an issue then I suggest you raise the matter in writing to the mods/administrators of this site. If there is an issue with what i am writing then they will let me know. Thanks.

Vindiesel - that is a perfect summary. They might have survived, but for this COVID-19 black swan event.

People are losing careers tonight , families discussing futures and how to pay next months mortgage .
Your winging about a refund for a cheap ticket is pissing people off .

I did pay on a credit card. Will that perhaps be in my favour in terms of full/partial refund?

Saintly - Can I respectfully ask you stop posting about your ticket issues.

Yep thats fine. All i was doing was seeking some guidance and advice. I love aviation and love VA as well. My queries DID NOT intend to offend anyone.

My apologies.

Hey Saintly I'll fly you personally PER-MEL-PER if only you can get my job back.

Saintly

Pprune is not the place to ask about your refund so kindly move along......

Their are thousands of people facing life without a job, the Australian public is facing airfares which will make flying unattainable for some and your worried about your lousy refund. Grow up and get some perspective

Not really the time and place to be thinking about yourself when 10,000+ people are potentially losing their job is it???....

They'll do what all leasing creditors do - secure their assets as soon as possible. It's pretty simple.

I think this will be okay. The vultures can now sweep in to buy the business. Going into VA helps improve the proposition of selling VA. They would not take the $5b debt otherwise...

They get control of them so they can be stored securely and not be neglected or parts pilfered. They may just stay where they are with new contracts in place for security and storage management.

Saintly,

read this about credit card protection. People are getting annoyed here as their worlds are coming crashing down so maybe take you queries somewhere else.

https://www.choice.com.au/shopping/c...pany-collapses

What do you mean by securing their assets? Do you think the creditors are worried that Virgin might try selling cheap aircraft on EBay?

If one of the large creditors now appoints a Receiver because they're in default [read the fine print of any loan or lease] it may be the real end.

Hopefully default can be avoided if the Administrators get in early enough.