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-   -   Government Loan to Virgin Australia (https://www.pprune.org/australia-new-zealand-pacific/631164-government-loan-virgin-australia.html)

Sunfish 17th Apr 2020 23:47

Good move by Queensland Government to forestall a move to Victoria.

crosscutter 17th Apr 2020 23:49


Originally Posted by normanton (Post 10753688)
Would the government block a chinese takeover if it meant the airline would fold? Some big balls from SCOMO.

Saw the money from the QLD government coming from a mile away. Morons fell for the "we'll move to Melbourne" threat.

The govt said (in fin review today I think) that they would NOT prevent an overseas govt takeover

normanton 17th Apr 2020 23:49


Originally Posted by Sunfish (Post 10753690)
Good move by Queensland Government to forestall a move to Victoria.

Ahh well if Sunfish says it's a good deal, it must really be a bad deal. :}

TWT 17th Apr 2020 23:55


Originally Posted by chance (Post 10753602)
Latest is that Scurrah is talking to a group comprising China Southern, China Eastern and Air China to do the rescue deal. So three Chinese companies as distinct from now with an Arab, a Singaporean, two Chinese and a Pom. Seems likes its Hobsons Choice as D Day approaches.

Just curious, would you have a link to the source of this rumour by any chance ?

Matt48 18th Apr 2020 00:12

Does anyone know if Virgin own or lease aircraft or a mix of both. ?

Ragnor 18th Apr 2020 00:13


Originally Posted by TWT (Post 10753700)
Just curious, would you have a link to the source of this rumour by any chance ?


Turn the news on itís been all over it or buy a newspaper!

I donít think this is a good thing having the Chinese buy VA this will be bad long term.

Blueskymine 18th Apr 2020 00:15

My gut feeling is the other states wonít match it. Itís a Brisbane based airline and the other states will still have air services or some form. Plus theyíre broke.

the Chinese will be the best bet.

Matt48 18th Apr 2020 00:24


Originally Posted by Square Bear (Post 10753680)
Isnít it that whoever buys into Virgin arenít buying an Australian company, but buying a predominately overseas owned company that is based and operates in Australia?

Absolutely, it's not like they are buying an Australian owned and run business, it's a 90% foreign owned airline that operates in Australia, and does a damn fine job too I if I might say, and we will pay through the nose for domestic flights if they fail.

wheels_down 18th Apr 2020 00:28


Originally Posted by Matt48 (Post 10753716)
Does anyone know if Virgin own or lease aircraft or a mix of both. ?

About 50/50

But they donít really own them. As they have Borrowed cash against every one of them (minus the Fokker), with the now problem of unable to pay the debt tied to them, they are really owned by the banks.


mates rates 18th Apr 2020 00:35

A mix of both.I think they own 4 777’s and about 30 737’s.

galdian 18th Apr 2020 00:45


Originally Posted by mates rates (Post 10753735)
A mix of both.I think they own 4 777ís and about 30 737ís.

Define "owned".

One poster says just "owned", another says 50% owned but used as collateral for loans...so the financial institution either "owns" or has a substantial holding.

It sounds as if VA own ZERO of the mainline fleet - if all are used as security for loans.

Matt48 18th Apr 2020 00:57


Originally Posted by wheels_down (Post 10753727)
About 50/50

But they donít really own them. As they have Borrowed cash against every one of them (minus the Fokker), with the now problem of unable to pay the debt tied to them, they are really owned by the banks.

Thanks WD.

Matt48 18th Apr 2020 01:04


Originally Posted by Blackout (Post 10753606)
The Chinese should be barred from buying any business/asset in Australia.

I agree, they should be, but in this case, it's not an Australian company apart from the 10% Aussie shareholding.

normanton 18th Apr 2020 01:07

If the chinese want in, they should be allowed in under the current circumstances i.e. $5b debt.

If they want it cheaply once the company goes into administration, the government should be telling them to get ^%$#@!.

snoop doggy dog 18th Apr 2020 01:11

Capitalist when in Profit, Socialist when not.

Am I missing something here? :ugh: They definitely can not have it both ways! :mad:

No bail out...

directimped 18th Apr 2020 01:40


Originally Posted by snoop doggy dog (Post 10753758)
Capitalist when in Profit, Socialist when not.

Am I missing something here? :ugh: They definitely can not have it both ways! :mad:

No bail out...

Thats how it works. In the good times, minimise your tax as best you can. In the bad times, ask the taxpayer to bail you out.

But hey, it's legal!

Matt48 18th Apr 2020 01:42


Originally Posted by normanton (Post 10753754)
If the chinese want in, they should be allowed in under the current circumstances i.e. $5b debt.

If they want it cheaply once the company goes into administration, the government should be telling them to get ^%$#@!.

A bit like a motorist offering a cyclist five bucks for the $3k bike they just knocked him off.

Matt48 18th Apr 2020 01:43


Originally Posted by snoop doggy dog (Post 10753758)
Capitalist when in Profit, Socialist when not.

Am I missing something here? :ugh: They definitely can not have it both ways! :mad:

No bail out...

There won't be a major bailout apart from miss Piggy who just wants her employment stats to look good for the impending election.

Toruk Macto 18th Apr 2020 01:50

Is Joyce still around ?

normanton 18th Apr 2020 01:59


Originally Posted by Toruk Macto (Post 10753780)
Is Joyce still around ?

I think the board got around to telling him to keep his mouth shut.

Itís been great.


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