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

normanton 20th Apr 2020 00:18


Originally Posted by cloudsurfng (Post 10756005)
Frydenberg said this morning that govt won’t be bailing out, the airline has to go through all ‘commercial processes’ (ie, administration). Also said any attempted takeover by a Chinese govt owned airline will be blocked.

not sure what planet the nsw treasurer is on. Last thing VA needs is different state govts pulling on each arm trying to force them to relocate. Just another big decision for an already overwhelmed management

A very smart and wise planet. A buyout from any government owned Chinese company in the current Australian market should be blocked.

Chad Gates 20th Apr 2020 00:35

The states should either stump up the money condition free, or shut up. They seem to just be playing politics. They want to be seen by their constituents to be “doing something”, but never actually doing anything.

Des Dimona 20th Apr 2020 00:37

Get back to the reality - It's an Australian ASX listed public company where shareholders won't front up with funds to keep it going. That doesn't give it any rights to preferential government funding. What don't you understand about this ??

On any view, in the current climate, Chinese government funding is just not an acceptable outcome.

normanton 20th Apr 2020 00:44


Originally Posted by jethro_027 (Post 10756079)
It’s interesting, VA isn’t Australian enough, not worthy of a government loan and should look for a market solution. But they can’t have a Chinese money because they are too Australian. And the states can’t given them a loan either. It all makes perfect sense.

It's got nothing to do with being "too Australian". It's got everything to do with blocking government backed Chinese investors coming in and scooping up assets at fire sale prices.

This isn't just targeted at Virgin and aviation, it includes any business.

cloudsurfng 20th Apr 2020 00:52


Originally Posted by normanton (Post 10756072)
A very smart and wise planet. A buyout from any government owned Chinese company in the current Australian market should be blocked.


no I would say outer space somewhere...Frydenberg said Chinese blocked, nsw treasurer says virgin has not been mismanaged and will possibly contribute if they relocate to badgerys creek....don’t you think VA management have enough to deal with at the moment without throwing a ‘pack up and move’ in there as well?

normanton 20th Apr 2020 00:59


Originally Posted by cloudsurfng (Post 10756090)
nsw treasurer says virgin has not been mismanaged and will possibly contribute if they relocate to badgerys creek....don’t you think VA management have enough to deal with at the moment without throwing a ‘pack up and move’ in there as well?

Oh please. It's a political stunt to keep the voters. Neither the QLD or NSW government have any intentions to help out.

I have five billion reasons that say the NSW treasurer is living in la la land.

cloudsurfng 20th Apr 2020 01:00


Originally Posted by normanton (Post 10756094)
Oh please. It's a political stunt to keep the voters. Neither the QLD or NSW government have any intentions to help out.

I have five billion reasons that say the NSW treasurer is living in la la land.

which is exactly what I said first up.

ampclamp 20th Apr 2020 01:14

Virgin should just get 3 head offices one WSA, Brissy and Melbourne.:rolleyes: Problem solved.

States are just posturing hoping someone will stump up the cash before they move. Only a fool will buy in without the debt being quarantined in some way.

Forced Labor 20th Apr 2020 01:17

As was said above, administration is probably the only way that debt can be quarantined. But that may be the end of the Virgin brand in Australia.

-41 20th Apr 2020 01:20

Has it been 20mins yet? No announcement on ASX for VAH

normanton 20th Apr 2020 01:23

Sunfish strikes again.

Section28- BE 20th Apr 2020 02:12

VAH ASX Announcements- 20/04/20
 
Fitch Ratings Update: https://www.asx.com.au/asxpdf/202004...mx6h9vv5t0.pdf

Moody's Rating Update: https://www.asx.com.au/asxpdf/202004...msdqpb0fvd.pdf

Rgds
S28- BE

junior.VH-LFA 20th Apr 2020 02:13

The saber rattling between NSW and QLD governments is pathetic.

VR-HFX 20th Apr 2020 02:33

VH-LFA - Couldn't agree more but will certainly try. Both Qld and NSW are showing themselves as needy, unrealistic and just plain stupid. The airy fairy proposals are based on so-many preconditions that they are obviously designed as a publicity stunt. Shame on them.

wheels_down 20th Apr 2020 02:46

Libs and Labour having a good old crack at each other. Virgin just the puppet here.

Hey, this could work out for Virgin here. Pissing contest back and forth, back and forth, Virgin will have its Billon bucks in no time!

Scurrah can just grab the popcorn, sit back relax and let his cash arrive courtesy of some ******** pollies pissing contest.


As Virgin Australia scrambles to stave off collapse, NSW and Queensland have entered a bidding war over which state will secure the airline's headquarters.

Queensland has vowed to "stop at nothing" to keep Virgin's headquarters in Brisbane and has warned the NSW government to "back right off".
Virgin Australia planes sit idle at Brisbane Airport during the pandemic.
Photo: Darren England - AAPThe NSW government has put forward a Virgin Australia rescue package - with the condition of relocating the airline's headquarters to Sydney.

On Saturday, the Queensland government offered a $200 million rescue package for the country's second national carrier - as long as its headquarters remained in Bowen Hills in Brisbane.

Queensland State Development Minister Cameron Dick said he would "fight any attempt by New South Wales to steal Virgin Australia from Queensland to Sydney".
"Back right off. Just don’t go there,” Mr Dick said.

"If the world knows one thing, it knows this: there is nothing more dangerous than Queenslanders with their backs to the wall.

"New South Wales might want to bring a pea-shooter to the fight, we will bring a bazooka and we're not afraid to use it.

“At a time when their jobs hang in the balance, the 1200 Queensland families who depend on those head office jobs should not have to face the threat of being forced to move to Sydney."

NSW Premier Gladys Berejiklian said her government was "considering all the options we have moving forward".

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AVIATION

NSW coy on Virgin bailout as Victoria rejects calls for help

"If that means encouraging businesses to set up shop in NSW, if it means bringing jobs to our state, we will, of course, consider all those things," she said.

"At the end of the day, my government is responsible for NSW, I don't apologise for that."

Mr Dick has not ruled out pouring more money in to keep the ailing airline in Queensland.

The escalation in the bidding war comes as Queensland reported no new cases of COVID-19 on Monday for the first time since March 9.

Premier Annastacia Palaszczuk said it was an “absolutely tremendous” result and said if numbers continued to stay down for weeks, she would consider lifting restrictions.

More than 1000 Queenslanders have been infected with the virus since the state recorded its first case in late January.

About half of those people have since recovered and of those still infected, 20 patients remain in hospital, with seven of those in intensive care on ventilators.

Icarus2001 20th Apr 2020 03:10


Expect Virgin to announce receivership in about 20 minutes.
That is very specific Sunfish.

My watch may have stopped. How is the time where you are?

Vindiesel 20th Apr 2020 03:14

I don't think we'll be hearing much until about 0930 Wednesday.

Sunfish 20th Apr 2020 03:16

I said “20 minutes” that would be 10.00 am. I didn’t say which month, just 20 minutes :}

Buster Hyman 20th Apr 2020 03:40


Originally Posted by Sunfish (Post 10756046)
The only other chance is perhaps Paul Little and some Melbourne heavies buying in, but I would suspect they may need to ensure they can keep the AOC, while getting rid of half the fleet.

They'd probably do better by offering to buy Tiger from them. All the infrastructure & HQ is in MEL already. About the right size for a "start up"... just a thought.

wheels_down 20th Apr 2020 03:54

Singapore should take back the Tiger AOC and rebrand it as Scooter.

A Scoot Domestic fleet with 20-30 aircraft would be sustainable, without Virgin.

Its certainly a option. Scoot is in the progress of upgrading its CEO to NEO and will have available aircraft.

They could base it in Sydney and take on a few hundred million in incentives.

Scoot is now run by Campbell again, so most certainly possible.


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