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Uh oh!! Virgin America

Old 11-16-2012, 07:43 AM
  #11  
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Originally Posted by TurboDVR42 View Post
On a personal note, I am happy to see the airline is making money.
Why are we as a pilot group want more pilots on a street? The excuse of "there low pay rates" is getting old. The airline has been in business for 5 years, what do you guys expect?
THey did not make money, they lost 12 million, 3 times last years loss. They achieved an operating profit, but not a profit.
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Old 11-16-2012, 07:47 AM
  #12  
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Virgin America Cuts Airbus Order, Delays 30 Jets - Bloomberg

Wider Loss

Virgin America also reported that its third-quarter net loss widened to $12.6 million from $3.3 million a year earlier. Revenue jumped 27 percent to $368 million. The closely held company ended the period with $75 million in unrestricted cash.
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Old 11-16-2012, 08:20 AM
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It's too bad...They are a great airline and a pleasure to fly. I remember 2 years ago I wanted to get in very badly just to be apart of something new and stay with them forever. Needless to say I have changed my mind. There is no way I would relocate for them for fear of my losing my job. I personally am worried for them.
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Old 11-16-2012, 11:18 AM
  #14  
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Originally Posted by Socal Approach View Post
It's too bad...They are a great airline and a pleasure to fly.
I agree it's a good airline - they just can't charge enough to cover expenses. Which, unfortunately, doesn't work in a business.
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Old 11-16-2012, 11:27 AM
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Originally Posted by Bucking Bar View Post
Wild crazy rumor alert!!!! XXX Airline buys (or "partners with" to keep it legal) Virgin Atlantic to get coveted Heathrow slots; has to take Virgin America as part of the deal to give Branson et. al. a face saving exit...and operates them separtely until phase out so as to avoid even the slimmest chance of a relative SLI.
There, that's more like it.
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Old 11-16-2012, 11:41 AM
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What do they have? $82M unrestricted cash on hand? Looks like Virgin will need ANOTHER large cash infusion to make it through the winter. But, I guess if you're Richard Branson, $1B here and there is chicken feed.

Must be nice to work for an airline with a Sugar Daddy with deep pockets. The rest of us have to make a profit to stay in business.
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Old 11-16-2012, 11:48 AM
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Originally Posted by Moby Dick View Post
What do they have? $82M unrestricted cash on hand? Looks like Virgin will need ANOTHER large cash infusion to make it through the winter. But, I guess if you're Richard Branson, $1B here and there is chicken feed.

Must be nice to work for an airline with a Sugar Daddy with deep pockets. The rest of us have to make a profit to stay in business.
It's all relative, eventually 1B here 1B there it becomes the last Billion, and the chicken feed becomes the world hunger feed, unsustainable.
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Old 11-16-2012, 12:02 PM
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Originally Posted by Moby Dick View Post
What do they have? $82M unrestricted cash on hand? Looks like Virgin will need ANOTHER large cash infusion to make it through the winter. But, I guess if you're Richard Branson, $1B here and there is chicken feed.

Must be nice to work for an airline with a Sugar Daddy with deep pockets. The rest of us have to make a profit to stay in business.
I remember a few years ago, a Netjets pilot told me that Warren Buffett doesn't mind operating Netjets at a loss since it's a tax write-off. That couldn't be more further from the truth. In the end, Netjets laid off a third of their force. Virgin Atlantic will not be around long term losing money.
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Old 11-16-2012, 02:38 PM
  #19  
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and Shy Guy chimes in in 3,,,2,,,,1......
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Old 11-16-2012, 02:50 PM
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Originally Posted by hockeypilot44 View Post
I remember a few years ago, a Netjets pilot told me that Warren Buffett doesn't mind operating Netjets at a loss since it's a tax write-off. That couldn't be more further from the truth. In the end, Netjets laid off a third of their force. Virgin Atlantic will not be around long term losing money.
Just a correction...........It was roughly 16% layed off... About 3100 pilots prior and 495 layed off.. Roughly 2570 still employed....
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