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

Paragraph377 20th Apr 2020 10:29


Originally Posted by -41 (Post 10756302)
Sunfish was very close to the mark he almost nailed it!

Sunfish was closer to the mark than anybody else. He copped a lot of shit for doing exactly what was so wrong? Oh yes, showing he was further ahead of the information stream than any of you who were shitting on him were.

KRviator 20th Apr 2020 10:30


Originally Posted by Arctaurus (Post 10756498)
Hopefully default can be avoided if the Administrators get in early enough.

Is that likely though? I mean, realistically? There's next-to-no income, granted salaries and wages can be cut immensely by standing-down crews, and no flying = no fuel used, but the fixed expenses aren't going to go away. Short of selling off any owned aircraft (but who'll be buying in this environment?) I can't see any way to bring in enough income to trade their way out of this.

markontop 20th Apr 2020 10:31

Special comments
From the failed Howard minister Jackie Kelly, “just a blip”

Falling Leaf 20th Apr 2020 10:32

The administrators don't care about 'VA' or aviation or airlines full stop, that is not their remit. They are there to protect the interests of the creditors. They are accountants. They see the world as assets and debts.

I've been through this process as a pilot staring at redundancy. I know its tempting to fall for every white knight scenario, we heard plenty in the last 2 weeks we continued to work for no salary while the administrators quietly and politely shuffled around the office, starting what for them was a lucrative 2 year undertaking...

Don't be surprised if none of these aircraft fly for 'V Australia' or whatever else you want to imagine. Its over.

Telfer86 20th Apr 2020 10:41

Who could ever forget the ramblings of Teresa Green who posted on here
He was a true disciple of the magic man one J . Borghetti

The silly old bugger was forever preaching "get borghetti , get borghetti" he thought JB was the man to resurrect QF post grounding etc

For that matter so many of the pilots were overly enamored by the Virgin spin "its the place to be , its the place to be" they would cry

Back at the ranch magic just continued to spend and continued to spend and continued to spend , flashy paint , flash new uniforms , oh & we must have a flash business lounge also

dontgive2FACs 20th Apr 2020 10:46

*** PLEASE TAKE CARE ALL ***

All the guys and girls at VA please take care. This is a volatile time and things just went up a notch. Please, please, please reach-out to someone if youíre feeling the pinch!

Many of us have been through this is 2001/2. While the road out seems uncertain right now, there WILL be a road out.

If anyone has friends in VA, please consider giving them a ring to check-in on them soon. We may all fly different tails, but we are all of the same profession.

If you canít sleep or donít feel like yourself, please seek out help or go see a Doctor. There is an abundance of help around.

There is absolutely NO need to suffer in silence or take this out on your loved ones.

Stay strong. This feeling will pass. Promise

ozbiggles 20th Apr 2020 10:50

What is a little different here in terms of aircraft owners is they have no where else to make money on their aircraft so they will be more inclined to negotiate one would hope.
good to see 377 back alive and ranting....stilll

T-Vasis 20th Apr 2020 10:54

https://www.afr.com/street-talk/meet...0200420-p54lam

Paragraph377 20th Apr 2020 10:56


Originally Posted by ozbiggles (Post 10756531)
What is a little different here in terms of aircraft owners is they have no where else to make money on their aircraft so they will be more inclined to negotiate one would hope.
good to see 377 back alive and ranting....stilll

Love you too Biggles. Chin up mate. Cheers

2020Balance 20th Apr 2020 11:00

I just got reissued with a new set of RM’s about 8 weeks ago. Haven’t even worn them yet. Will I have to give them back ???

Ragnor 20th Apr 2020 11:09


Originally Posted by log0008 (Post 10756478)
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

I have been hearing this a lot over the last few weeks! Even if VA was there on the other side you honestly think airfares would be the same! I doubt it airlines have a lot to recoup from this virus. Cheap airfares are gone for a few years to come.

Vref+5 20th Apr 2020 11:13

Have a read of Section 5.3A of the Corporations Act 2001, explains what happens during VA, and that the company is protected from civil proceedings unless the administrator gives consent, or a court grants leave, S440D refers. Iím certainly no expert, but reading that is probably more reliable than most of the comments here.
Good luck to all those at VA, including many friends and colleagues from over the years.

log0008 20th Apr 2020 11:21

Of course, travel will take a long time to return to the prices of the last decade, but with one company owning every single seat on the domestic market, they can literally change what ever they want.

Section28- BE 20th Apr 2020 11:21

Ex "tail wheel" -

"You are now a Creditor of Virgin: your refund and Frequent Flyer points are in limbo."
'Secured or Not', be 'the' question- the Credit Card gig, Has been shut-down for weeks (allegedly/apparently...???)

Good Luck- stay safe & well.
Look after/think of each other.
Rgds
S28- BE

WillieTheWimp 20th Apr 2020 11:28


Originally Posted by T-Vasis (Post 10756536)

Paywall.. Can someone post the article

rattman 20th Apr 2020 12:13


Originally Posted by WillieTheWimp (Post 10756581)
Paywall.. Can someone post the article

View in porn mode

34R 20th Apr 2020 12:18

Chicken littles everywhere.

They have not folded.
In the current situation, this is not unexpected and is a positive step.

There will be a Virgin MKII. It may be smaller and leaner, but it will survive.

invertedpancake 20th Apr 2020 12:24

Couldn't agree more

Lookleft 20th Apr 2020 12:43

It was a bad time before but now it is worse for the staff at Virgin. There are no guarantees as to how this all ends and thats the problem for the staff. You end up going from one news item to the next looking for what the facts are. In 2002 all was looking rosy on the 28 of Feb yet by the 4th of March it was game over.

Telfer86 20th Apr 2020 12:46

Going into administration is folding ; it is an admission that a business is insolvent
Very few businesses in Australia emerge from administration & continue trading < 5 % & likely closer to 1 or 2 %

How is it positive to be placed into administration ? , where you almost never emerge from

Why are you confident that this business which has lost $ 2B over the last 6 or 7 years will survive

Maybe you know something that not many other people seem to know ?

Anyone know what happened to the $1B in cash that wishful thinking employees seemed so keen to tell everyone about six weeks ago sort of
"we will be right because we have that in cash in the bank" , did they ever actually have it

Goodluck to the Virgin employees I hope you get your entitlements


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