Avelo pay year 1 beats UAL pay

Reply Subscribe

Page 2 of 5

Thread Tools

Search this Thread

01-20-2022, 11:10 AM

#11

Excargodog

Perennial Reserve

Joined APC: Jan 2018

Posts: 11,492

Quote:

Originally Posted by tailendcharlie

Spend some time on Zillow exploring home prices within an hour or so of BUR…..

or California taxes…

01-20-2022, 11:11 AM

#12

KC135

Gets Weekends Off

Joined APC: Jun 2015

Position: A-320

Posts: 680

Quote:

Originally Posted by BeatNavy

Small point of order, allegiant was founded and started first (97/98), then went thru a bankruptcy after its first couple years in 2000. Jetblue was founded in 98, started ops in 2000.

So with that said, Virgin America was the last successful startup then. Although I'm not sure they would have made it without the deep pockets backing them up...

01-20-2022, 11:38 AM

#13

hotmicoffNOW

Gets Weekends Off

Joined APC: Jan 2021

Posts: 134

Quote:

Originally Posted by BeatNavy

Small point of order, allegiant was founded and started first (97/98), then went thru a bankruptcy after its first couple years in 2000. Jetblue was founded in 98, started ops in 2000.

Is everyone gonna forget Virgin America?

01-20-2022, 11:47 AM

#14

Andy

Gets Weekends Off

Joined APC: Mar 2006

Position: guppy CA

Posts: 5,159

Quote:

Originally Posted by KC135

So with that said, Virgin America was the last successful startup then. Although I'm not sure they would have made it without the deep pockets backing them up...

I looked at their quarterly results and IIRC, there was only one quarter ever that was in the black.. They were successful as long as the investors kept pouring money into them. And they went through reorganization two or three times pre-IPO. Essentially the equivalent of Chap 11.

It's kind of like a young adult saying they're financially successful ... as long as mom and dad pay most of their bills.

01-20-2022, 11:52 AM

#15

BeatNavy

Covfefe

Joined APC: Jun 2015

Posts: 3,001

Quote:

Originally Posted by hotmicoffNOW

Is everyone gonna forget Virgin America?

2 reasons I think they were left out. 1) Virgin wasn’t exactly successful. They lost money something like every quarter except the last 2 before they were put up for sale (fact check that because I’m only 69% sure of that) despite having lower costs than the competition. If that’s your version of success, then sure, add them in there. 2) they also aren’t around anymore either. B6/G4 are. A airline that consistently loses large sums of money and gets packaged and sold is not a success imo. Allegiant wasn’t either—then they went thru BK, then became the most profitable airline in the US. So in theory Virgin might have also. But we won’t ever know.

01-20-2022, 12:23 PM

#16

ShyGuy

Gets Weekends Off

Joined APC: Dec 2005

Posts: 8,898

I want to say first quarter of profit “on paper” was Q3 2013. Also Q4 2013. IPO was Dec 2014, and I believe most of 2014 was profitable. So was 2015. Interest in acquiring started Dec 2015, culminating in a bidding war that finally Alaska won and announced April 4, 2016.

01-20-2022, 12:57 PM

#17

KC135

Gets Weekends Off

Joined APC: Jun 2015

Position: A-320

Posts: 680

Quote:

Originally Posted by Andy

True but they did become highly profitable when the training wheels finally came off in the end. They had 340 million net income off of only 1.5 billion revenue the last year before they were acquired.

01-20-2022, 01:36 PM

#18

StallWeezy

Gets his house in order

Joined APC: Sep 2017

Posts: 315

Quote:

Originally Posted by hotmicoffNOW

Is everyone gonna forget Virgin America?

We remember the stupid passenger briefing song. Profitability…eh, no.

01-20-2022, 02:16 PM

#19

BeatNavy

Covfefe

Joined APC: Jun 2015

Posts: 3,001

Quote:

Originally Posted by SpeedyT

Alaska going to absorb Avelo.

Period.

Why would they do that?

01-20-2022, 02:35 PM

#20

Andy

Gets Weekends Off

Joined APC: Mar 2006

Position: guppy CA

Posts: 5,159

Quote:

Originally Posted by KC135

Whoa. The ONLY reason they were ever profitable is because a SIGNIFICANT amount of debt was converted to equity during their multiple pre-IPO restructurings. AKA private bankruptcies.
If you were a pilot there, you may recall that the equity promised to you prior to the final restructuring was taken away and went to the investors. Does that ring a bell to any VX alumni? Congratulations, the equity taken away from you helped make that company 'successful'.