Again...?:ooh:

A Chinese company & or Government Owning an Australian airline, be careful what you wish for.......That is a frightening outcome for Virgin.
You are talking about people who have a proven, well documented and lengthy history of outright dishonesty, abuse of power, total disregard for employee & shareholder rights, complete lack of transparency, intimidation & total secrecy. Once you open the door to Chinese investors you will be raped & discarded, because thats how they do business.

However, Chinese companies make for great Employers when it comes to hiring ex Politicians, lobbyists and so on. They pay very well !!!

Question:

Is there anything stopping the QF group from pretending to be one of the potential buyers ?
(Paying someone to do it).

In order to find out in great detail the financials / plans etc.

https://cimg5.ibsrv.net/gimg/pprune....4099dca4bf.jpg
How about this?

Put your tinfoil hat back on please

THERE HAVE BEEN QUITE A FEW INTERESTING DEVELOPMENTS IN THE ADMINISTRATION PROCESS OF VIRGIN AUSTRALIA, AS THE AIRLINE’S FUTURE HANGS IN THE BALANCE.

After it was originally thought that Virgin’s debt pile was around $5 billion, the administrators at Deloitte have revealed that the total amount owing to creditors is more than $6.8 billion.

According to an affidavit lodged to the Federal Court by Deloitte’s Vaughan Strawbridge last week, secured lenders are owed approximately $2.3 billion, unsecured bondholders are owed approximately $167 million, aircraft lessors are owed approximately $1.9 billion, landlords are owed approximately $71 million, and employees are owed approximately $450 million.

Deloitte has identified that Virgin has more than 10,000 known creditors in total (including approximately 9,020 employees), but expects this number to increase to over 12,000 as more information becomes available.

There has been a bit of speculation around whether unions representing workers will look to try and appoint a rival firm such as KordaMentha to ensure a fair administration process, given Deloitte recently disclosed it had worked with Virgin on other advisory and restructuring work in the past.

However, the Australian Federation of Air Pilots, the Transport Workers Union and the Australian Licensed Aircraft Engineers Association told The Australian that they were satisfied with Deloitte leading administration proceedings.

Meanwhile, one of Virgin’s suitors has told Deloitte, as well as the federal and state governments, that it will provide certainty to the carrier’s staff if its “Team Australia” bid is successful.

According to The Australian Financial Review, BGH Capital has also warned the relevant parties that other private equity firms and hedge funds from overseas may not show as much mercy to Virgin employees.

To further prove BGH is serious about a potential play for Virgin, The Australian reported that firm has has tapped advisory specialists Moelis for a possible recapitalisation of the airline.

It’s been speculated that BGH will make a move for Virgin as part of a consortium rather than going solo, with AustralianSuper popping up in multiple media reports as a likely partner.

And, finally, it appears Paul Scurrah (pictured above) could have a challenger for the top role at Virgin following the administration process, with John Thomas telling the AFR he would throw his hat in the ring for the CEO position if it became available.

Thomas is no stranger to Virgin, having led the airline’s domestic and international operations between 2016 and 2017.

Absolutely illegal under the competition act, at very least it would come under unconscionable conduct. Add in being sued out of existence if caught and possible fraud charges. The fake buyer would sign a civil commercial in confidence that they could not discuss the details with a 3rd party or use the information gained in commercial operations

You are assuming that one of the Qantas group of companies is not a genuine creditor. I would be willing to bet that QF supplied some service to VAH that they may wish to be paid for. That means they have a place at the table.

Thanks rattman...

Was hoping there would be some protection against that idea.

Hopefully nobody leaks the information - you would never know I guess.

Of course it will leak and QF will get it if they want it, which I doubt. But by the time it leaks it will be all over one way or another.

Could this be as simple as VA owing money to QF for the use of a ground cart etc?

One would expect Scurrah to be rolled. Being 12 months into the job and not knowing that the airline was as deep in the mire as is now being reported is not a good look. There really isn’t a place in the new Airline, in whatever format that will be, for the current CEO, CFO, COO and Board.

Administrators reports are made public so they dont have to be leaked, they can down load of the administrators website like everyone 8 days before the final meeting.

I assumed the person was reffering to qantas purposely getting involved as a roadblock / spoilter to prevent someone taking over

I was wondering about all that 'commercial in confidence' stuff that won't be in the administrator's report.

Not so much in providing a roadblock, but finding out ALL of the numbers / arrangements the competitor has had in place and will have in place.

Just thought it could be an unfair advantage (free kick) to the QF group - or is this stuff leaked both ways anyway ?

I'm starting to think anything is possible.

And all the assistants, acting assistants, deputy acting assistants, specialist assistants and the rest of the oxygen thieves to those listed above

I dare say that a new ‘mean and lean’ structure will finally see the end of the rewards for mates who have been there from the beginning and it will see the end of a puffed up structure and created roles. Keep the structure clean and lean, pay the pilot group well and have an adequate safety and compliance group. If they are going to compete with JQ they are going to have to be streamlined. No more numpty’s spending their days wandering from floor to floor in the Village chatting in cubicles and in meeting rooms. No more cake celebrations because somebody’s poodle turned 5 or somebody’s toddler did it’s first **** in a proper toilet. Productive work is profitable work. Things will have to change.

You must be new to the Aviation industry then...:}

And a move to Melbourne or Sydney in a city with a much greater and competitive talent pool to select from will help this.

All the specialists, advisors and leaders who for years have driven up or down from the Sunny or Gold Coast and rolled in to the Village at 7am and we’re back home or on the water fishing by 2:30 won’t be happy.