Virgin Atlantic

[CEJM]

Apologies Zero/Zero, you are right.

[BRISTOLRE]

most of the activity of the VS fleet at present is confined what appears to be just cargo only flights to JFK/LAX etc. LAX just got converted to A35X operation which was on the cards anyway, Its mooted they will be actively involved in the next tranche of repatriation charters for the UK GVT.

[Discovery Bay]

Some friends of mine are returning from CPT later this week on VS

[cashash]

Originally Posted by zero/zero

No, Virgin Group owns 51% of Virgin Atlantic. RB does not fully own the Group... if he did he'd be worth a lot more than the £4bn quoted in the papers

And the Virgin Group is owned by Virgin Group Holdings Ltd, a private company who are based in a Carribbean tax haven with very opaque ownership. So I dont think anyone can say exactly how much Branson owns of anything.

[Riskybis]

Originally Posted by BRISTOLRE

most of the activity of the VS fleet at present is confined what appears to be just cargo only flights to JFK/LAX etc. LAX just got converted to A35X operation which was on the cards anyway, Its mooted they will be actively involved in the next tranche of repatriation charters for the UK GVT.

just been chartered to do flights to DEL,BOM,JNB and CPT for repatriation

[BRISTOLRE]

Originally Posted by Riskybis

just been chartered to do flights to DEL,BOM,JNB and CPT for repatriation

That's good news, it keeps people employed and aircraft in the air but its short term relief. I suppose they will use the 789s for these (is G-VROS still at LHR?)

[GASH !]

Just a minor correction chaps. Virgin Atlantic is not owned by Virgin Group. The CEO of Virgin Group Ltd is Peter Norris. He was in charge of the Southeast Asia division at Barings Bank when Nick Leeson took them down for over £800m.

Virgin Atlantic is owned 51% by Virgin Investments Ltd and 49% by Delta Airlines Inc. Richard Branson is listed as a Person of Significant Control, which means no person or company has recently purchased over 25% of the ordinary shares.

[farefield]

What do those who don't want VS to get funds say about P and O Ferries wanting £500 million. A big percentage of our food comes via cross channel ferries so that would be affected if P and O failed.

However it is owned by Dubai Ports so let's forget about em eh?

[qwertyuiop]

Originally Posted by farefield

What do those who don't want VS to get funds say about P and O Ferries wanting £500 million. A big percentage of our food comes via cross channel ferries so that would be affected if P and O failed.

However it is owned by Dubai Ports so let's forget about em eh?

I think VS is popular however I know Dicky Branson is seen as an Epstein esq tax avoider. I personally hope to see a survival plan for them or we will be swamped by the ME3 and USA airlines in the future.

[esscee]

VS may well be popular, however SRB would be equally so as long as he dips his hand into his own pocket first before going cap in hand to HM Gov!

[Riskybis]

Originally Posted by esscee

VS may well be popular, however SRB would be equally so as long as he dips his hand into his own pocket first before going cap in hand to HM Gov!

he has to the tune of 250million

[cashash]

Originally Posted by farefield

What do those who don't want VS to get funds say about P and O Ferries wanting £500 million. A big percentage of our food comes via cross channel ferries so that would be affected if P and O failed.

If P&O collapse and that will cause issues with the distribution of food then the assets should be nationalised as a strategic industry for the UK. The UK taxpayer should certainly not be bailing out foreign companies like Dubai World.

Same goes for Virgin.

[marchino61]

Originally Posted by cashash

If P&O collapse and that will cause issues with the distribution of food then the assets should be nationalised as a strategic industry for the UK. The UK taxpayer should certainly not be bailing out foreign companies like Dubai World.

Same goes for Virgin.

A collapse of P&O would have little effect. Someone would buy them out of administration for peanuts and carry on as before.

[giggitygiggity]

Originally Posted by marchino61

A collapse of P&O would have little effect. Someone would buy them out of administration for peanuts and carry on as before.

But surely a long period of shutdown before they get going again? That would be far from ideal right now.

[marchino61]

Originally Posted by giggitygiggity

But surely a long period of shutdown before they get going again? That would be far from ideal right now.

Why shut down? If the business is viable, the administrators will usually sell as a going concern.

[farefield]

'"why shut down? If the business is viable, the administrators will usually sell as a going concern."

Because at the moment it it a loss making concern. P and O say that freight alone will not be sustainable.

[marchino61]

Originally Posted by farefield

'"why shut down? If the business is viable, the administrators will usually sell as a going concern."

Because at the moment it it a loss making concern. P and O say that freight alone will not be sustainable.

It won't be loss making if you buy it for a pound.

[cats_five]

Originally Posted by marchino61

It won't be loss making if you buy it for a pound.

Gosh will that stop cost of running it being more than it's income?

[marchino61]

Originally Posted by cats_five

Gosh will that stop cost of running it being more than it's income?

Yes. Have you ever heard of things like fixed costs, and financing costs? Variable costs are just a part of the equation.

[cats_five]

Originally Posted by marchino61

Yes. Have you ever heard of things like fixed costs, and financing costs? Variable costs are just a part of the equation.

How does selling it for a quid get rid of the fixed costs? Or reduce them enough? We have seen plenty of rescues where a company was sold for that sort of price eventually fold.