Virgin Australia: government bailout
05-21-2020, 01:44 PM
#1
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Virgin Australia: government bailout
Virgin Australia’s fast-dwindling cash reserves have rekindled union calls for a government bailout of the stricken airline ahead of a meeting of key creditors on Thursday.
The administrators, partners at big accounting firm Deloitte, say they are likely to require “interim funding” from the end of next month and have been discussing options with the federal government.
https://www.theguardian.com/business...serves-dwindle
The administrators, partners at big accounting firm Deloitte, say they are likely to require “interim funding” from the end of next month and have been discussing options with the federal government.
https://www.theguardian.com/business...serves-dwindle
05-22-2020, 08:08 PM
#2
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They won’t. For two reasons...firstly, if they loan VOz money, then Qantas will want some. Secondly, VOz has been so badly run for the last ten years, it would have gone into administration, whether COVID-19 had happened or not.
Joe Public in Australia has been conditioned over the last 20 years to hate all things union, with a passion.
Joe Public in Australia has been conditioned over the last 20 years to hate all things union, with a passion.
05-23-2020, 04:24 AM
#3
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Virgin Australia was a totally foreign owned Airline.
The group owners - Singapore Airlines, Etihad, HNA and Virgin Group. (Branson) All refused cash injections to help the airline ride out the slow down.
Singapore, Etihad and HNA are all government owned corporations. Each company has deep pockets. It would be crazy for the Australian Government to give money to foreign government owned airline just to save jobs local jobs.
As far as I am aware Virgin Aus is now in voluntary administration and the remains are being administered by Deloitte until a new buyer or buyers can be found.
On a happy note, the afore mentioned foreign owners will not receive any money for sale of the airline or its assets.
The group owners - Singapore Airlines, Etihad, HNA and Virgin Group. (Branson) All refused cash injections to help the airline ride out the slow down.
Singapore, Etihad and HNA are all government owned corporations. Each company has deep pockets. It would be crazy for the Australian Government to give money to foreign government owned airline just to save jobs local jobs.
As far as I am aware Virgin Aus is now in voluntary administration and the remains are being administered by Deloitte until a new buyer or buyers can be found.
On a happy note, the afore mentioned foreign owners will not receive any money for sale of the airline or its assets.
05-24-2020, 02:12 PM
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Position: guppy CA
Posts: 5,152
Originally Posted by Mark7
Virgin Australia was a totally foreign owned Airline.
The group owners - Singapore Airlines, Etihad, HNA and Virgin Group. (Branson) All refused cash injections to help the airline ride out the slow down.
Singapore, Etihad and HNA are all government owned corporations. Each company has deep pockets. It would be crazy for the Australian Government to give money to foreign government owned airline just to save jobs local jobs.
As far as I am aware Virgin Aus is now in voluntary administration and the remains are being administered by Deloitte until a new buyer or buyers can be found.
On a happy note, the afore mentioned foreign owners will not receive any money for sale of the airline or its assets.
The group owners - Singapore Airlines, Etihad, HNA and Virgin Group. (Branson) All refused cash injections to help the airline ride out the slow down.
Singapore, Etihad and HNA are all government owned corporations. Each company has deep pockets. It would be crazy for the Australian Government to give money to foreign government owned airline just to save jobs local jobs.
As far as I am aware Virgin Aus is now in voluntary administration and the remains are being administered by Deloitte until a new buyer or buyers can be found.
On a happy note, the afore mentioned foreign owners will not receive any money for sale of the airline or its assets.
05-24-2020, 06:38 PM
#6
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Joined APC: Mar 2006
Position: guppy CA
Posts: 5,152
Originally Posted by SD3FR8DOG
Thats Atlantic, not Virgin Australia.
Edit: I read an Aussie newsrag that stated Branson pledged his island as collateral to save Virgin Australia.
Last edited by Andy; 05-24-2020 at 07:19 PM.
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