Virgin Ire.
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Virgin Express shuts
down in Shannon
--------------------------------------------------------------------------------
By Éibhir Mulqueen, Midwest Correspondent
Virgin Express Ireland ceased trading as a low-cost carrier at Shannon Airport yesterday, although the prospect remains of the company's assets being sold to a British investment group.
About 80 remaining employees out of 160 who were based in Shannon finished work yesterday afternoon. About 140 cabin crew, some of whom were based in Gatwick and Brussels, were let go in January. Aer Arann has taken over the call centre operation which employs 20 people.
Mr Yves Panneels, corporate communications manager with the group, said the deadline for a deal with a potential investor passed yesterday and the company was being dissolved. He said there was "a slim chance" of a sale being negotiated.
Mr Martin Hamrogue, chief executive of Virgin Express Ireland, said a British investment group, which he declined to name, believed it would be able to re-launch the company. "Without a lot of money, there is no sense in starting an airline. It has just been a problem for them to get that money in place in time," he said. He said the goodwill and management infrastructure was for sale. Until last week, the company had reduced its fleet to one Boeing 737 which was used for "ad hoc charters", according to Mr Panneels.
In December, Virgin Express Holdings, a Brussels-based lowcost carrier quoted on the Nasdaq and controlled by entrepreneur Sir Richard Branson, made the decision to sell or close down the subsidiary. Bases at Gatwick and Berlin were also closed as part of the rationalisation plan to re-focus on Brussels.
Pilots were told yesterday the company was being wound down and were given details of a redundancy package. But Mr Michael Landers, IMPACT's assistant general secretary, has complained to management on behalf of pilots that despite assurances that a generous settlement would be made, minimum statutory redundancy is being paid to 55 pilots. He also stated that management had not engaged in collective consultation.
down in Shannon
--------------------------------------------------------------------------------
By Éibhir Mulqueen, Midwest Correspondent
Virgin Express Ireland ceased trading as a low-cost carrier at Shannon Airport yesterday, although the prospect remains of the company's assets being sold to a British investment group.
About 80 remaining employees out of 160 who were based in Shannon finished work yesterday afternoon. About 140 cabin crew, some of whom were based in Gatwick and Brussels, were let go in January. Aer Arann has taken over the call centre operation which employs 20 people.
Mr Yves Panneels, corporate communications manager with the group, said the deadline for a deal with a potential investor passed yesterday and the company was being dissolved. He said there was "a slim chance" of a sale being negotiated.
Mr Martin Hamrogue, chief executive of Virgin Express Ireland, said a British investment group, which he declined to name, believed it would be able to re-launch the company. "Without a lot of money, there is no sense in starting an airline. It has just been a problem for them to get that money in place in time," he said. He said the goodwill and management infrastructure was for sale. Until last week, the company had reduced its fleet to one Boeing 737 which was used for "ad hoc charters", according to Mr Panneels.
In December, Virgin Express Holdings, a Brussels-based lowcost carrier quoted on the Nasdaq and controlled by entrepreneur Sir Richard Branson, made the decision to sell or close down the subsidiary. Bases at Gatwick and Berlin were also closed as part of the rationalisation plan to re-focus on Brussels.
Pilots were told yesterday the company was being wound down and were given details of a redundancy package. But Mr Michael Landers, IMPACT's assistant general secretary, has complained to management on behalf of pilots that despite assurances that a generous settlement would be made, minimum statutory redundancy is being paid to 55 pilots. He also stated that management had not engaged in collective consultation.
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From today's Irish Independent 03 April 2001
Gate closes on Virgin Express Ireland
VIRGIN Express Ireland officially ceased to be at midnight last night as the deadline to find a buyer for the Shannon Airport-based carrier expired.
The company, which had employed some 220 staff at its Shannon, Gatwick and Brussels bases, had been operating since December 1998 but management yesterday blamed its closure on the hike in aviation fuel prices and the strong US dollar.
Chief executive Martin Hamrogue, however, remained upbeat about the possibility of a deal being pushed through for the launch of another airline in Virgin Express Ireland's place.
Mr Hamrogue said that a UK investment company is interested in taking over from Virgin Express in Shannon and he hoped that this would take place "sooner rather than later."
He would not divulge the identity of the investment company, but said that he expects the deal to go ahead and he will remain on in Shannon himself with a view to seeing it through.
He also confirmed that there was at least one potential buyer for Virgin Express Ireland but that buyer did not have the funds to purchase the company by yesterday's deadline and, as a result, the company officially ceased trading last night.
"Virgin Express Ireland is not being sold because it simply does not exist any more but the relaunch of a new airline in its place is a distinct possibility," said Mr Hamrogue.
Principal management staff, he said, will remain on in Shannon in order to achieve the relaunch but he could not say how many will be employed and what flights will be operated by the new company, if it is launched.
The company is owned by Virgin Express Holdings, in which Richard Branson has a majority stake, and among the non-executive directors on the VEI board was broadcaster Gay Byrne.
Annual accounts for Virgin Express Holdings showed an operating loss of £46m last year alone, compared with a £4.9m operating loss in 1999.
Despite this, Virgin Express Ireland has "no debts of any kind," according to Mr Hamrogue
...but then you knew this already!....
Gate closes on Virgin Express Ireland
VIRGIN Express Ireland officially ceased to be at midnight last night as the deadline to find a buyer for the Shannon Airport-based carrier expired.
The company, which had employed some 220 staff at its Shannon, Gatwick and Brussels bases, had been operating since December 1998 but management yesterday blamed its closure on the hike in aviation fuel prices and the strong US dollar.
Chief executive Martin Hamrogue, however, remained upbeat about the possibility of a deal being pushed through for the launch of another airline in Virgin Express Ireland's place.
Mr Hamrogue said that a UK investment company is interested in taking over from Virgin Express in Shannon and he hoped that this would take place "sooner rather than later."
He would not divulge the identity of the investment company, but said that he expects the deal to go ahead and he will remain on in Shannon himself with a view to seeing it through.
He also confirmed that there was at least one potential buyer for Virgin Express Ireland but that buyer did not have the funds to purchase the company by yesterday's deadline and, as a result, the company officially ceased trading last night.
"Virgin Express Ireland is not being sold because it simply does not exist any more but the relaunch of a new airline in its place is a distinct possibility," said Mr Hamrogue.
Principal management staff, he said, will remain on in Shannon in order to achieve the relaunch but he could not say how many will be employed and what flights will be operated by the new company, if it is launched.
The company is owned by Virgin Express Holdings, in which Richard Branson has a majority stake, and among the non-executive directors on the VEI board was broadcaster Gay Byrne.
Annual accounts for Virgin Express Holdings showed an operating loss of £46m last year alone, compared with a £4.9m operating loss in 1999.
Despite this, Virgin Express Ireland has "no debts of any kind," according to Mr Hamrogue
...but then you knew this already!....
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No chance of a job in woolies other ops then?
...
We are pleased to announce that our recruitment process is online and welcome you to Virgin Atlantic Pilot Recruitment.
Our minimum requirements vary according to the fleet we are recruiting for. Short haul applicants would need to have no less than 1500 hours and long haul candidates should have at least 2500 hours (depending on the aircraft type and nature of previous experience). You should also have either a UK ATPL or JAR licence, the right of abode in the UK and finally, you should be MCC qualified.
If you meet these requirements we would welcome an application from you! You can find our application form below. Please remember that we are interested in a wide variety of applicants and will continue to consider each CV on its individual merits. To make the most of the online application process, we will rely on you to fill in the form as fully as possible.
Once you have completed the form we would advise that you take a copy for your own records. If suitable, your application will be added to our database. You will not need to update your details with us more than once a year (unless there are any major changes in your circumstances ie. type conversion, command etc).
Although we cannot acknowledge, please be assured that your application has been received and it is not necessary for you to call and confirm.
If you already have a current application with us you need not reapply! Your details will still be kept on our existing database and we will continue to look through this as and when interviews are set up.
Finally, thank you for applying and good luck!
...
We are pleased to announce that our recruitment process is online and welcome you to Virgin Atlantic Pilot Recruitment.
Our minimum requirements vary according to the fleet we are recruiting for. Short haul applicants would need to have no less than 1500 hours and long haul candidates should have at least 2500 hours (depending on the aircraft type and nature of previous experience). You should also have either a UK ATPL or JAR licence, the right of abode in the UK and finally, you should be MCC qualified.
If you meet these requirements we would welcome an application from you! You can find our application form below. Please remember that we are interested in a wide variety of applicants and will continue to consider each CV on its individual merits. To make the most of the online application process, we will rely on you to fill in the form as fully as possible.
Once you have completed the form we would advise that you take a copy for your own records. If suitable, your application will be added to our database. You will not need to update your details with us more than once a year (unless there are any major changes in your circumstances ie. type conversion, command etc).
Although we cannot acknowledge, please be assured that your application has been received and it is not necessary for you to call and confirm.
If you already have a current application with us you need not reapply! Your details will still be kept on our existing database and we will continue to look through this as and when interviews are set up.
Finally, thank you for applying and good luck!
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Posts: n/a
A spoof e-mail sent to all staff yesterday
Press Release
London, 29th March 2001 - Virgin Express Holdings, pie [NASDAQ: VIRGY - Brussels: POX]
Virgin Express Holdings Plc
Announces 4th Quarter
and Full Year 2000 Results
Highlights
• Virgin Express on track for breakeven in 2001, following years of pissing around.
• Refocused on scheduled flights from Brussels hub (The one loosing the MOST money).
• Shannon, Gatwick and Berlin stations closed (Naturally you guessed it, the ones making money)
• Total loss of EUR 65.2 million. - oh dear.
• Restructuring costs of EUR 17.5 million (EUR 2.8 million in 1999).
• Operating losses of EUR 46.7 million (EUR 4.9 million in 1999).
• Results hit by high fuel prices and US dollar strength... hmm, we never saw THAT coming.
• Yields and load factors growing 100% in 4th Quarter 2000 and 1st Quarter 2001. (10 pax to 20pax)
Chairman's Statement
Year 2000 was a year of refocusing and restructuring, as signalled in my Chairman's report of last year.
I've already been at the helm of the VEI screw-up so you ain't seen nothing yet! We completed the year
with a much-simplified business, focussed on scheduled passengers for a change, from a Brussels hub,
to eight European locations, although how Ryanair manage to expand to that many routes each season is
beyond me. This completes phase one of three phases to return our company to anything like a profit.
Phase two will concentrate on improving the quality of the product (by wast er spendin er investing
resources) and delivering profits, ready for expansion in phase three, into a rapidly growing European
market for lower fare travel. Of course by the time you belgians stop arguing and decide how to get
around to this, Easyjet and Ryanair will have put us out of business.
Results
Results for the year showed a total loss of EUR 65.2 million (EUR 5.7 million for the year 1999). This was
made up of restructuring costs of EUR 17.5 million and operating losses of EUR 46.7 million. What the
heck. Richard's a sporting kind of bloke.
Restructuring costs
In March 2000 we announced that we would not be renewing our unprofitable time based charter contract
from winter 2000/2001, as Neckermann was riding us just that little bit too much. In December 2000,
following a strategic panic attack, we announced we would concentrate on our Brussels hub. The Irish
airline, Virgin Express Ireland that we'd convinced ourselves we owned, would be sold or closed down
and our stations in Shannon, Gatwick and Berlin would be closed. The profitable flights from these
airports have now been stopped. Of our fleet of 22 aircraft Boeing-737s, 11 were surplus to our
operational fleet requirement. Four have been returned successfully to lessors (more money in penalties)
and seven subleased to third parties - at a loss, of course! This sort of consistency will form part of our
new image.Operating losses
Eh - sorry about that.
Yield, load factor and distribution channels
We're having someone look into exactly what these mean - Yields and load factors. We've heard other
airlines banging on about them for years but we seem to have survived perfectly well (losses aside)
without them. Still, we'll give anything a try once.
Sabena
We are concerned about the uncertain future of Sabena and the rumoured intention of its 49.5% stake
shareholder, SAirGroup, to dispose of its investment. We might actually have to put some effort into
sustaining ourselves. We have also ignored the tremendous expansion of the Brussels based airline
activities over the past number of years. This has led to significant excess capacity on our flights and we
have an idea that this may be contributing to losses for all other significant operators in Brussels.
Sabena's losses have been unfairly subsidised by the Belgian State, (unlike our losses being subsidised
by Branson - that's different) delaying the need for them to restructure. Independent airlines, operating
out of Brussels, many of them, like Virgin Express, low cost operators, are heavily loss making or have
gone out of business. Hang on a minute - did I say low-cost airlines -(plural)? This unfair subsidy must
not be allowed to continue. To this end, we have made strong representation to the Belgian Government
and to European Union Commission, asking that WE get some handouts too. This sound financial
approach has worked well for Sabena in the past and we are hoping for similar success.
Perspectives
Year 2000 has been a very difficult year with both the restructuring of our business and the exceptionally
high fuel and dollar costs. However, we have emerged with one airline operating from a Brussels hub on
a much-simplified route structure, even though everyone around us is expanding, more passenger
business now and then, and a strong, determined management team in place for more than a month now
- a new company record.
In year 2001 we will concentrate on improving the quality of the product we offer our passengers, and on
delivering a close to breakeven result with positive cash flow on our ongoing business. That few bob from
the government should just tip us out of the red. We have started the year well, (well as in-a deep hole)
with improvements to both yields and loadfactors, ada much more favourable fuel and dollar rate< now
hedged respectively 75 % and 69 %. Naturally we won't bother factoring a cushion for the dramatic fuel
increases which happened last year, 'cos it wasn't our fault.
I feel confident that we are now building the foundations of a low fare scheduled business that can grow
profitably into what's left of a rapidly expanding European market, after all the serious players like Easyjet
and Ryanair are done.
Michael D.Hoare
Executive Chairman
(I know, I get a laugh out of that title too! )
Press Release
London, 29th March 2001 - Virgin Express Holdings, pie [NASDAQ: VIRGY - Brussels: POX]
Virgin Express Holdings Plc
Announces 4th Quarter
and Full Year 2000 Results
Highlights
• Virgin Express on track for breakeven in 2001, following years of pissing around.
• Refocused on scheduled flights from Brussels hub (The one loosing the MOST money).
• Shannon, Gatwick and Berlin stations closed (Naturally you guessed it, the ones making money)
• Total loss of EUR 65.2 million. - oh dear.
• Restructuring costs of EUR 17.5 million (EUR 2.8 million in 1999).
• Operating losses of EUR 46.7 million (EUR 4.9 million in 1999).
• Results hit by high fuel prices and US dollar strength... hmm, we never saw THAT coming.
• Yields and load factors growing 100% in 4th Quarter 2000 and 1st Quarter 2001. (10 pax to 20pax)
Chairman's Statement
Year 2000 was a year of refocusing and restructuring, as signalled in my Chairman's report of last year.
I've already been at the helm of the VEI screw-up so you ain't seen nothing yet! We completed the year
with a much-simplified business, focussed on scheduled passengers for a change, from a Brussels hub,
to eight European locations, although how Ryanair manage to expand to that many routes each season is
beyond me. This completes phase one of three phases to return our company to anything like a profit.
Phase two will concentrate on improving the quality of the product (by wast er spendin er investing
resources) and delivering profits, ready for expansion in phase three, into a rapidly growing European
market for lower fare travel. Of course by the time you belgians stop arguing and decide how to get
around to this, Easyjet and Ryanair will have put us out of business.
Results
Results for the year showed a total loss of EUR 65.2 million (EUR 5.7 million for the year 1999). This was
made up of restructuring costs of EUR 17.5 million and operating losses of EUR 46.7 million. What the
heck. Richard's a sporting kind of bloke.
Restructuring costs
In March 2000 we announced that we would not be renewing our unprofitable time based charter contract
from winter 2000/2001, as Neckermann was riding us just that little bit too much. In December 2000,
following a strategic panic attack, we announced we would concentrate on our Brussels hub. The Irish
airline, Virgin Express Ireland that we'd convinced ourselves we owned, would be sold or closed down
and our stations in Shannon, Gatwick and Berlin would be closed. The profitable flights from these
airports have now been stopped. Of our fleet of 22 aircraft Boeing-737s, 11 were surplus to our
operational fleet requirement. Four have been returned successfully to lessors (more money in penalties)
and seven subleased to third parties - at a loss, of course! This sort of consistency will form part of our
new image.Operating losses
Eh - sorry about that.
Yield, load factor and distribution channels
We're having someone look into exactly what these mean - Yields and load factors. We've heard other
airlines banging on about them for years but we seem to have survived perfectly well (losses aside)
without them. Still, we'll give anything a try once.
Sabena
We are concerned about the uncertain future of Sabena and the rumoured intention of its 49.5% stake
shareholder, SAirGroup, to dispose of its investment. We might actually have to put some effort into
sustaining ourselves. We have also ignored the tremendous expansion of the Brussels based airline
activities over the past number of years. This has led to significant excess capacity on our flights and we
have an idea that this may be contributing to losses for all other significant operators in Brussels.
Sabena's losses have been unfairly subsidised by the Belgian State, (unlike our losses being subsidised
by Branson - that's different) delaying the need for them to restructure. Independent airlines, operating
out of Brussels, many of them, like Virgin Express, low cost operators, are heavily loss making or have
gone out of business. Hang on a minute - did I say low-cost airlines -(plural)? This unfair subsidy must
not be allowed to continue. To this end, we have made strong representation to the Belgian Government
and to European Union Commission, asking that WE get some handouts too. This sound financial
approach has worked well for Sabena in the past and we are hoping for similar success.
Perspectives
Year 2000 has been a very difficult year with both the restructuring of our business and the exceptionally
high fuel and dollar costs. However, we have emerged with one airline operating from a Brussels hub on
a much-simplified route structure, even though everyone around us is expanding, more passenger
business now and then, and a strong, determined management team in place for more than a month now
- a new company record.
In year 2001 we will concentrate on improving the quality of the product we offer our passengers, and on
delivering a close to breakeven result with positive cash flow on our ongoing business. That few bob from
the government should just tip us out of the red. We have started the year well, (well as in-a deep hole)
with improvements to both yields and loadfactors, ada much more favourable fuel and dollar rate< now
hedged respectively 75 % and 69 %. Naturally we won't bother factoring a cushion for the dramatic fuel
increases which happened last year, 'cos it wasn't our fault.
I feel confident that we are now building the foundations of a low fare scheduled business that can grow
profitably into what's left of a rapidly expanding European market, after all the serious players like Easyjet
and Ryanair are done.
Michael D.Hoare
Executive Chairman
(I know, I get a laugh out of that title too! )
Guest
Posts: n/a
Cant tell you all how sad and dissapointed I am. To think such a great bunch are out of work blows my mind. If any other airlines are listening then I would respectfully suggest that you become proactive in grabbing as many of these guys as you can.... you wont be dissapointed!!!
As I have said on another thread .... you are all welcome by my fire at any time. Sadly I don't have the ability to employ you guys but if your ever down in the Southern Hemisphere come and warm yourselve at the afore mentioned fire.
Good luck!!! I'm sure you'll all get a job somewhere. The only up side I can see is that I'll have mates in more corners of the earth now.
Anyone wishing to drop me an e-mail my address is available from Metal Mickey.
Cheers!!!
As I have said on another thread .... you are all welcome by my fire at any time. Sadly I don't have the ability to employ you guys but if your ever down in the Southern Hemisphere come and warm yourselve at the afore mentioned fire.
Good luck!!! I'm sure you'll all get a job somewhere. The only up side I can see is that I'll have mates in more corners of the earth now.
Anyone wishing to drop me an e-mail my address is available from Metal Mickey.
Cheers!!!
Guest
Posts: n/a
MSF that was an absolutely brilliant description of VEX management and its incompetence. How about sending a copy of it to Branson, he appointed all those dick heads and remember Hoare was hand picked ha ha ha.
As Littlejohn says regularly in the Sun,
" you just couldn't make it up"
As Littlejohn says regularly in the Sun,
" you just couldn't make it up"
