Virgin Atlantic
short flights long nights
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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.
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.
Awful times.
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Just a numbered other
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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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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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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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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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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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
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.
Old definition of How do you Become a Millionaire in Airline Ownership. Answer : Start as a Billionaire.
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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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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.
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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Who owns VA
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 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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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
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
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
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.
