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The 250 million wasn't all for the airline, it was for the group. Branson & Delta will have to step in and save Virgin Atlantic, not the UK taxpayer. Don't see BA pleading for cash, as WW said recently, only the fittest will survive this.
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Originally Posted by Count von Altibar
(Post 10744716)
Don't see BA pleading for cash
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Originally Posted by DonTrumpet2020
(Post 10745272)
BA seem happy enough to take money from the government through the job retention scheme.......and we won’t mention all the money they cost the taxpayer when they were the State Airline....
Anyway nobody in the aviation world wants to see Virgin go (apart from Willie).. |
....and we won’t mention all the money they cost the taxpayer when they were the State Airline.... Why don't we discuss the American airlines and Chapter 11 protection used in the past 20 years if we are to discuss utter irrelevancies? |
Originally Posted by cats_five
(Post 10744710)
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.
This is my last attempt to explain this. Fixed costs are things like the purchase price of ships and buildings, which have to be financed. A ship that costs a pound is a lower fixed cost than one that costs a million pounds. |
Gentlemen some help please. Do any of you have any info regarding Virgin passenger operations resuming after the 26 April? Reason for asking is we are stuck in NZ and have a flight booked back to the UK Air NZ to LAX and then Virgin back to the UK. If you have any info it would be very much appreciated as we are trying to avoid yet another cancellation and yet another flight credit for sometime in the future! Up to now that route with Air NZ and Virgin has been very successful.very many thanks
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Originally Posted by navstar1
(Post 10751310)
Gentlemen some help please. Do any of you have any info regarding Virgin passenger operations resuming after the 26 April? Reason for asking is we are stuck in NZ and have a flight booked back to the UK Air NZ to LAX and then Virgin back to the UK. If you have any info it would be very much appreciated as we are trying to avoid yet another cancellation and yet another flight credit for sometime in the future! Up to now that route with Air NZ and Virgin has been very successful.very many thanks
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Originally Posted by there she blows
(Post 10751571)
vs24 on 27 April lax lhr is operating
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Originally Posted by navstar1
(Post 10751582)
very many thanks much appreciated
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Flights ex LAX
That info is excellent thank you so much for taking the time to reply. From a lock down NZ kind regards and keep safe and well to all at Virgin Atlantic Blue skies to all
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First application knocked back..
“Virgin Atlantic has been told to resubmit its proposal for a 500 million pound ($625.35 million) coronavirus bailout package after the UK government was left unimpressed with its initial bid, Financial Times reported” https://uk.reuters.com/article/us-he...-idUKKBN21Z3D9 |
Looks like the owners need to dig a bit deeper before the UK taxpayer will even entertain their request. There will be redundancies without a doubt which is horrible for the employees, but if measures aren't taken soon the pot of cash will dry up rapidly given the continuing lack of people travelling and Virgin Atlantic will be faced with administration. Come on Sir Richard Branson, get your cheque book out again and save your airline yourself, not with taxpayers money.
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I have no idea how any airline can survive this nightmare. The way the governments have scared the crap out of people I cannot see many wanting to get crammed through an airport and then sit on an aircraft for many hours.
For what it’s worth. I would happily get on one tomorrow but looking around the general population I just can’t see it and the authorities seem he’ll bent on preventing it. The government’s have failed to balance the books with a booming economy, do they have the cash to give to the airlines? |
Originally Posted by GeeRam
(Post 10754534)
Exactly.
Not much chance of me getting my job back at Heathrow. Very little chance of me getting a job anywhere else either in the near future. |
The way the governments have scared the crap out of people Is the government overreacting you think. |
What about the other shareholder?
Originally Posted by Count von Altibar
(Post 10754353)
Looks like the owners need to dig a bit deeper before the UK taxpayer will even entertain their request. ........... Come on Sir Richard Branson, get your cheque book out again and save your airline yourself, not with taxpayers money.
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No, Delta can put their share in too.
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Originally Posted by Black Pudding
(Post 10755411)
In the last hour, I’ve found out that another (2nd) friend has passed away due to Covid19. I was speaking to him only 7 weeks ago and he was as normal as ever. No health issues and holder of a class 1 medical.
Is the government overreacting you think. |
It will be interesting to see if Richard Branson is prepared to prop up Virgin Atlantic in the UK, their balance sheet must be getting worse by the day like most. I'd say RB is wondering how much of his own wealth he'll risk in propping up his ailing airline. Virgin Australia has gone into administration according to the press, the aviation world we were used to is changing rapidly.
https://www.independent.co.uk/travel...-a9473581.html |
The British billionaire, who owns 51% of Virgin Atlantic, says the airline is seeking a commercial loan backed by the UK government, and points to similar financing awarded to budget carrier EasyJet. “It wouldn’t be free money and the airline would pay it back (as EasyJet will do for the £600 million [$748 million] loan the government recently gave them),” writes Branson. Branson points out in his blog that Virgin Group has “committed a quarter of a billion dollars to help our businesses and protect jobs”, and says it will “continue to invest” what it can. In an apparent rebuttal of criticism on social media levelled at wealthy individuals requesting taxpayer-funded bailouts, the Virgin founder adds: “I’ve seen lots of comments about my net worth – but that is calculated on the value of Virgin businesses around the world before this crisis, not sitting as cash in a bank account ready to withdraw.” |
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