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Virgin Atlantic

Old 16th Mar 2020, 15:09
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Virgin Atlantic

On the 10pm news here in Australia is was reported that Virgin Atlantic will ground 85 percent of its fleet.
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Old 16th Mar 2020, 17:08
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Three A340-600s ferried to Prestwick for storage in the last day or two, plus two out of use at LGW, and B789 G-VNYL was recently still donkless at LHR. There's your first 15 percent right there.

Awful times.
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Old 17th Mar 2020, 00:53
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Richard put your hand in your pocket

Now is the time to find out what type of person Branson really is. Treat your staff better Richard
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Old 17th Mar 2020, 04:24
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A friend of mine working for Virgin says they must take minimum 2 months of non paid leave.
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Old 17th Mar 2020, 08:01
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Originally Posted by pineteam View Post
A friend of mine working for Virgin says they must take minimum 2 months of non paid leave.
8weeks unpaid leave over 6 months and pension reduced to 6% ,
not bad at all !!!
and yet some of the “senior entitled pilots” still complain!! Unbelievable in times like these
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Old 17th Mar 2020, 08:12
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Originally Posted by Riskybis View Post
8weeks unpaid leave over 6 months and pension reduced to 6% ,
not bad at all !!!
and yet some of the “senior entitled pilots” still complain!! Unbelievable in times like these
As unbelievable that the billionaire boss might ride the storm for his loyal staff with the small change in his pocket.
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Old 17th Mar 2020, 08:17
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Originally Posted by Arkroyal View Post
As unbelievable that the billionaire boss might ride the storm for his loyal staff with the small change in his pocket.
that Boss only owns 20% of the business now , the real Boss is Delta that has the majority of 49% , I believe they have probably helped behind the scenes
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Old 17th Mar 2020, 08:24
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Originally Posted by Riskybis View Post
that Boss only owns 20% of the business now , the real Boss is Delta that has the majority of 49% , I believe they have probably helped behind the scenes
20% of his fortune is still a fortune.
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Old 17th Mar 2020, 08:29
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The KLM/AirFrance deal didn't happen so he still own 51%, having Branson as an owner at the moment is probably a liability as the UK tax payer won't be happy about giving a billionaire tax payer cash to keep one of his companies going, they think he needs to put his hand in his own pocket and stop using tax payers money, it will be a hard sell to the uk general public, the question is when the tide goes out is he naked?
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Old 17th Mar 2020, 09:38
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Worth noting that the Delta ceo has announced that he is taking a 100% pay cut. https://www.travelpulse.com/news/air...-cutbacks.html
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Old 17th Mar 2020, 12:10
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When did Virgin Atlantic Ltd last make a profit exactly? If it were not for the benevolence of others then all the staff would have had a 100% pay cut, 100% time off and 0% pension some time ago?
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Old 17th Mar 2020, 12:42
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Originally Posted by Private jet View Post
When did Virgin Atlantic Ltd last make a profit exactly? If it were not for the benevolence of others then all the staff would have had a 100% pay cut, 100% time off and 0% pension some time ago?
I think Virgin Atlantic has lots of smoke and mirrors going on with its finance , hasn’t made a profit for years ! A bit like how Monarch was before it got taken over by Greybull
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Old 17th Mar 2020, 12:44
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RB has made some money from a few of his ventures, but never from Virgin Atlantic, which long term seems to have consumed more money that it generated.

Old definition of How do you Become a Millionaire in Airline Ownership. Answer : Start as a Billionaire.
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Old 17th Mar 2020, 13:25
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The measures sound a bit tame to me given 85% of the fleet is going to be on the ground shortly. Maybe they know something about the upcoming government airline rescue package that we don't?
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Old 17th Mar 2020, 13:40
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It's probably not that they know something. I imagine they already have these agreements in place in case of any calamity (natural disasters, civil unrest etc) to rescue british nationals. The gov is eerily quiet about it at the moment, but I imagine there need to be rescue flights at some point as none of these countries will want to keep foreign nationals within their borders for longer than they have to. I'm chatting out of my arse though, I have friends abroad which I hope will be repatriated sooner rather than later.

Even if they do run these flights, they won't be anywhere near enough movements to sustain the business. I don't imagine they need more than 5% of their capacity to organise these flights.
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Old 17th Mar 2020, 17:35
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Who owns VA

Originally Posted by A320baby View Post
Richard still owns the 51%
Virgin Atlantic is owned by the Virgin Group (20%), Air France-KLM (31%) and Delta Air Lines (49%).
The multi jurisdictional aspect of the ownership doesn't make it a prime candidate for a Westminster bail-out.

Worrying times for all staff everywhere.



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Old 17th Mar 2020, 17:41
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Originally Posted by Maxfli View Post
Virgin Atlantic is owned by the Virgin Group (20%), Air France-KLM (31%) and Delta Air Lines (49%).
The multi jurisdictional aspect of the ownership doesn't make it a prime candidate for a Westminster bail-out.

Worrying times for all staff everywhere.
The 31% AF-KLM was announced, but fell through. https://www.airfranceklm.com/en/air-...ng-partnership
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Old 17th Mar 2020, 18:21
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Originally Posted by Maxfli View Post
Virgin Atlantic is owned by the Virgin Group (20%), Air France-KLM (31%) and Delta Air Lines (49%).
The multi jurisdictional aspect of the ownership doesn't make it a prime candidate for a Westminster bail-out.

Worrying times for all staff everywhere.
Well with an influx of cash from the US to help Delta weather the storm, then Delta can emerge strong enough to bail out Virgin later for pennies on the pound. I aint predicting that will happen but all options should be considered.

So what do the UK citizens want, pay me now or a fire sale later? For me I would rather fly on Virgin then BA after this is all over
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Old 17th Mar 2020, 20:09
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Devil

Originally Posted by lomapaseo View Post
Well with an influx of cash from the US to help Delta weather the storm, then Delta can emerge strong enough to bail out Virgin later for pennies on the pound. I aint predicting that will happen but all options should be considered.

So what do the UK citizens want, pay me now or a fire sale later? For me I would rather fly on Virgin then BA after this is all over
Don't forget that Richard made his first millian? by not paying tax on his record sales. Once you've made your first millian, your up and running.

P.S.: Meany moons ago, Peter Sellers stared in "I'm All Right Jack"! As relevent now as it was then.

Last edited by ambidextrous; 31st Mar 2020 at 10:59.
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Old 18th Mar 2020, 07:01
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Branson is a disgrace. Instead of taking cash out he should be reinvesting it in the airline to keep it going instead of going cap in hand to the govt for a handout. After all he can't take it with him!!
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