Australian Politics Forum - Virgin Airlines has collapsed

Grappler Deep State Feller Gold Member Online Australian Politics Posts: 85437 Always was always will be HOME Gender:	Re: Virgin Airlines has collapsed Reply #60 - Apr 21^st, 2020 at 1:31am Jeez - I've got the Lauda Air paperweight... collector's item... but no Virgin Oz one.... buggar... What airline was that? ....... LAUDA!!
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Bobby. Gold Member Offline Australian Politics Posts: 107133 Melbourne Gender:	Re: Virgin Airlines has collapsed Reply #61 - Apr 21^st, 2020 at 7:32am Enjoy the new service from China Airlines:
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crocodile

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Re: Virgin Airlines has collapsed
Reply #62 - Apr 21^st, 2020 at 7:38am

Sir lastnail wrote on Apr 20^th, 2020 at 6:35pm:

Yes because scumo didn't want to pay goat beard Bransom his 15 million dollar a year pound of flesh to use the silly Virgin name and rightfully so. Also Virgin is majority foreign owned and we do not need another repeat of the Ford and Holden rent-a-job fiasco !!

Why would the pay Branson. He doesn't even own it. Fukkwit.

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Very funny Scotty, now beam down my clothes.

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cods

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Re: Virgin Airlines has collapsed
Reply #63 - Apr 21^st, 2020 at 8:30am

crocodile wrote on Apr 21^st, 2020 at 7:38am:

Sir lastnail wrote on Apr 20^th, 2020 at 6:35pm:

Yes because scumo didn't want to pay goat beard Bransom his 15 million dollar a year pound of flesh to use the silly Virgin name and rightfully so. Also Virgin is majority foreign owned and we do not need another repeat of the Ford and Holden rent-a-job fiasco !!

Why would the pay Branson. He doesn't even own it. Fukkwit.

China is one of the biggest stake holders 20% Branson 10%

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Stig

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Re: Virgin Airlines has collapsed
Reply #64 - Apr 21^st, 2020 at 8:33am

Bobby. wrote on Apr 21^st, 2020 at 7:32am:

Enjoy the new service from China Airlines:

https://www.webjet.com.au/site/images/ChinaAirlines_363114.jpg

I hate to point this out to you, given you've been spamming this comment throughout the thread, but "China Airlines" is a Taiwanese airline, not mainland Chinese, so quite the opposite of a mainland-owned communist-backed airline that you were probably looking for.

I've flown them, they're quite good.

The airline you were probably looking for was "Air China", which used to be CAAC ( Civil Aviation Administration of China) and was the communist Chinese flag carrier until it was split into multiple airlines today (of which air China is one)

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Stig

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Re: Virgin Airlines has collapsed
Reply #65 - Apr 21^st, 2020 at 8:43am

greggerypeccary wrote on Apr 20^th, 2020 at 8:09pm:

Gordon wrote on Apr 20^th, 2020 at 7:08pm:

John Smith wrote on Apr 20^th, 2020 at 7:03pm:

Gordon wrote on Apr 20^th, 2020 at 7:02pm:

John Smith wrote on Apr 20^th, 2020 at 7:01pm:

Should have bailed them out in exchange for equity.

The Govt may still, prob best to see if a private investor wants to step in first.

New Zealand airways? Look what they did with Ansett Roll Eyes

All well run airlines will be burning their cash reserves fast.
Bad ones will go under. Not much spare cash to go around.
Maybe Singapore ?

I hope the Govt steps in, Virgin is a decent company.
Take an equity stake and a deal for more onshore maintenance

Scotty from Marketing needs to get onto this ASAP.

Without Virgin, tourism is gonna suffer badly.

Virgin Australia, where the bloody hell are ya?

There won't be a bailout - it doesn't make any sense for the government to step in now, Virgin is heavily in debt and has no way to recover in the medium term.

Unlike Qantas, a significant proportion of Virgin's fleet is leased, meaning that they're stuck paying out million of $$$ while their fleet is sitting on the ground doing nothing. Propping them up simply means giving money away to lessors whilst foreign-owned shareholders do nothing (and to be fair, no airline has money to prop up virgin right now).

Virgin will be allowed to go into administration, which will enable them to restructure, offload a bunch of debt, reduce their fleet size, probably dump TigerAir and set them up to get back on their feet later.

It's still going to take time though, I think we won't see much action from even a "saved" Virgin until 2021.

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John Smith Gold Member Offline Australian Politics Posts: 75251 Gender:	Re: Virgin Airlines has collapsed Reply #66 - Apr 21^st, 2020 at 8:49am rhino wrote on Apr 20^th, 2020 at 11:31pm: Good post and questions. Why should the taxpayer support this airline. Because without them domestic fares will triple or more, domestic tourism will stall and the economy take that much longer to recover. Better take a stake in the company and keep it going.
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Bobby.

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Re: Virgin Airlines has collapsed
Reply #67 - Apr 21^st, 2020 at 9:51am

Stig wrote on Apr 21^st, 2020 at 8:33am:

Bobby. wrote on Apr 21^st, 2020 at 7:32am:

Enjoy the new service from China Airlines:

https://www.webjet.com.au/site/images/ChinaAirlines_363114.jpg

I hate to point this out to you, given you've been spamming this comment throughout the thread, but "China Airlines" is a Taiwanese airline, not mainland Chinese, so quite the opposite of a mainland-owned communist-backed airline that you were probably looking for.

I've flown them, they're quite good.

The airline you were probably looking for was "Air China", which used to be CAAC ( Civil Aviation Administration of China) and was the communist Chinese flag carrier until it was split into multiple airlines today (of which air China is one)

https://upload.wikimedia.org/wikipedia/commons/8/83/Air_China_B767-200.jpg

Alright - you don't need to be pedantic.

China will look with great interest to
be our 2nd carrier.

I am a kind of prophet -
that is my prediction.

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Gnads

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Re: Virgin Airlines has collapsed
Reply #68 - Apr 21^st, 2020 at 9:54am

rhino wrote on Apr 20^th, 2020 at 11:31pm:

President Elect, The Mechanic wrote on Apr 20^th, 2020 at 10:06pm:

I was reading that Virgin was 55 Billion in debt..(I think it was)

This didn’t happen over night..

They have not paid tax in Australia for at least 7 years...

Why not?

QLD and NSW (i think) were offering them Hundreds of millions of Tax payers dollars 💵.. they still folded..

The company is owned by Billionaires and Foreign Governments..

Why didn’t they put their hands in their pockets?

How much were the board members siphoning off?

How many other Airlines have folded in Australia?

10, 20? 50?

Good post and questions. Why should the taxpayer support this airline.

5 billion in debt..... not 55.

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"When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid." ~ Ricky Gervais

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Gnads

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Re: Virgin Airlines has collapsed
Reply #69 - Apr 21^st, 2020 at 9:58am

Baronvonrort wrote on Apr 20^th, 2020 at 8:57pm:

Redmond Neck wrote on Apr 20^th, 2020 at 8:27pm:

They will be saved without a doubt!

By who is the question?

Branson, Etihad and Singapore Airlines own over half of it, if they want to save it they should pay for it.

ScoMo should not bail out this foreign owned company with taxpayers money.

Qantas shares will probably go lower might be a good time to buy some when state borders are opened again.

Virgin Australia shareholders =

Branson(Virgin) 10%

Etihad 21%

Singapore Airlines 20%

HNA(Chinese) 20%

Nashan Group(Chinese) 20%

Free Float 9%

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"When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid." ~ Ricky Gervais

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Gnads

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Re: Virgin Airlines has collapsed
Reply #70 - Apr 21^st, 2020 at 10:07am

Baronvonrort wrote on Apr 20^th, 2020 at 8:03pm:

Gnads wrote on Apr 20^th, 2020 at 7:10pm:

Sir lastnail wrote on Apr 20^th, 2020 at 6:35pm:

Yes because scumo didn't want to pay goat beard Bransom his 15 million dollar a year pound of flesh to use the silly Virgin name and rightfully so. Also Virgin is majority foreign owned and we do not need another repeat of the Ford and Holden rent-a-job fiasco !!

Virgin Australia is 100% foreign owned.

40% is 2 Chinese companies at 20% each.

Bransons Virgin own only 10%.

The rest is -

Etihad Airways 21%

Singapore Airlines 20%

Free Float is 9%

What we don't need is Virgin Australia to become 90-100% Chinese owned.

Etihad and Singapore are foreign government airlines who own 41% of VA.

Why should taxpayers prop up a foreign owned company?

Might be a good time to buy shares in Qantas when we get on top of this Kung Flu

Yeah well durrrh ... that's what I indicated.

Would you then vote up that lil Oirish pillowbiters obscene remuneration package at the AGM? Grin

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"When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid." ~ Ricky Gervais

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Gnads Gold Member Offline Australian Politics Posts: 30110 Gender:	Re: Virgin Airlines has collapsed Reply #71 - Apr 21^st, 2020 at 10:13am Jasin wrote on Apr 20^th, 2020 at 8:29pm: Pecca doesn't want FD & Gordo on the Beaches. But he wants mass domestic Tourism up and running. The guy talks from his butt. There's the whole point .... domestic. Local i.e. Internal not foreign. I think your oral orifice farts just as frequently.
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Captain Nemo Gold Member Online Australian Politics Posts: 10883 Melbourne Gender:	Re: Virgin Airlines has collapsed Reply #72 - Apr 21^st, 2020 at 10:13am John Smith wrote on Apr 20^th, 2020 at 7:01pm: Should have bailed them out in exchange for equity. They wanted taxpayers to cough up $87,500 per job.
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Gnads

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Re: Virgin Airlines has collapsed
Reply #73 - Apr 21^st, 2020 at 10:17am

cods wrote on Apr 21^st, 2020 at 8:30am:

crocodile wrote on Apr 21^st, 2020 at 7:38am:

Sir lastnail wrote on Apr 20^th, 2020 at 6:35pm:

Yes because scumo didn't want to pay goat beard Bransom his 15 million dollar a year pound of flesh to use the silly Virgin name and rightfully so. Also Virgin is majority foreign owned and we do not need another repeat of the Ford and Holden rent-a-job fiasco !!

Why would the pay Branson. He doesn't even own it. Fukkwit.

China is one of the biggest stake holders 20% Branson 10%

2 Chinese companies have a 40% interest -
20% each.

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"When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid." ~ Ricky Gervais

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greggerypeccary Gold Member Offline Australian Politics Posts: 139758 Gender:	Re: Virgin Airlines has collapsed Reply #74 - Apr 21^st, 2020 at 10:17am
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