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Virgin Atlantic

Old 7th Apr 2020, 08:41
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Apologies Zero/Zero, you are right.
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Old 7th Apr 2020, 13:16
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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.
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Old 7th Apr 2020, 14:01
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Some friends of mine are returning from CPT later this week on VS
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Old 7th Apr 2020, 14:36
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Originally Posted by zero/zero View Post
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.
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Old 7th Apr 2020, 15:46
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Originally Posted by BRISTOLRE View Post
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
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Old 7th Apr 2020, 17:10
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Originally Posted by Riskybis View Post
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?)
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Old 7th Apr 2020, 17:28
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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.



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Old 8th Apr 2020, 12:08
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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?
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Old 8th Apr 2020, 12:32
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Originally Posted by farefield View Post
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.
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Old 8th Apr 2020, 13:17
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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!
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Old 8th Apr 2020, 14:55
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Originally Posted by esscee View Post
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
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Old 8th Apr 2020, 15:19
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Originally Posted by farefield View Post
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.
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Old 9th Apr 2020, 01:23
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Originally Posted by cashash View Post
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.
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Old 9th Apr 2020, 01:39
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Originally Posted by marchino61 View Post
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.
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Old 9th Apr 2020, 04:07
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Originally Posted by giggitygiggity View Post
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.
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Old 9th Apr 2020, 08:12
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'"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.
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Old 9th Apr 2020, 10:47
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Originally Posted by farefield View Post
'"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.
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Old 9th Apr 2020, 11:22
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Originally Posted by marchino61 View Post
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?
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Old 9th Apr 2020, 11:51
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Originally Posted by cats_five View Post
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.
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Old 9th Apr 2020, 12:08
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Originally Posted by marchino61 View Post
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.
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