on 16-04-2020 10:49 AM
Keeping in mind:
Virgin Airlines is basically worthless as per the market price of the holding company that owns it: Virgin Australia Holdings LTD
share price is less than 1 cent ,
compared with Qantas being valued 355x more at $3.55 per share
What about dividends ? none paid , appears never has.
Also a major share holder HNA Group (19.82%) is being nationalised by "CHINA INC" who have the expressed objective of selling all airline assets which would include Virgin Australia Holdings
Somewhat shakey some might say.
so what about worthiness of support , the history ?
Questions of interest .. how did a new airline establish itself after a pioneering Australian airline company on home ground ( Ansett Airways/ Ansett Australia) fail dismally ?
A solution that will placate everyone and result in financially viable trading for all airlines based here is in everyones interest.
https://en.wikipedia.org/wiki/Virgin_Australia
https://en.wikipedia.org/wiki/Virgin_Australia_Holdings
https://www.bing.com/search?q=Virgin+Australia+holdings+LTD&FORM=ANCMS9&PC=U531
https://www.bing.com/search?q=qantas+shares&FORM=AWRE
on 16-04-2020 03:36 PM
my view is
australia cant support 2 airlines no matter how many experts say 'we need 2 airlines'
australians just dont fly enough!
virgin arnt the first airline to try and fail to make it here.
quantas has the market lead and they arnt giving that up anytime soon
virgin arnt even an aussie company! bail them out? let their corporate headqaurters bail them out.
they were strugging to survive before the C19 virus came, its just sped the death up.
it was only a few years ago quantas was on its knees, no govt bail outs for them then.
its no different to the auto industry, we dont buy enough aussie made cars to support an industry, so the industry was ended.
i was in favor of support for holden, it was an aussie business building aussie cars (as an arm of an american company)
virgin are one of the companys outed paying little or no taxes in australia.
now they want me to bail em out?
on 16-04-2020 03:44 PM
Get it right boys :
There were 4.60 million passengers carried on Australian domestic commercial aviation (including charter operations) in February 2020, a decrease of 2.2 per cent on February 2019. 4.36 million passengers were carried on RPT flights in February 2020, a decrease of 3.0 per cent on February 2019.
We need only - 1 Carrier - hello.
This is Feb 2020.
Bad time for flying.
What about a good time.
on 16-04-2020 03:51 PM
Looks like Virgin Airlines is about to collapse, so you are right about that Rogespeed. I really don't know how Australia will cope with only one airline though, I'm not sure it will/can.
I'd like to hear your ideas on it though.
on 16-04-2020 04:34 PM
all those who are willing to use tax payer money to prop up a non profitable company (any company) for ever, please raise your hand?
or if not forever, how long and how much tax payer money?
remember thousands of companys go bust every year because they cant compete.
your decision could cost billions of $
on 16-04-2020 05:06 PM
It would be interesting to know - when the whinger last paid any tax.
on 16-04-2020 10:15 PM
@davidc4430 wrote:my view is
australia cant support 2 airlines no matter how many experts say 'we need 2 airlines'
australians just dont fly enough!
virgin arnt the first airline to try and fail to make it here.
quantas has the market lead and they arnt giving that up anytime soon
virgin arnt even an aussie company! bail them out? let their corporate headqaurters bail them out.
they were strugging to survive before the C19 virus came, its just sped the death up.
it was only a few years ago quantas was on its knees, no govt bail outs for them then.
its no different to the auto industry, we dont buy enough aussie made cars to support an industry, so the industry was ended.
i was in favor of support for holden, it was an aussie business building aussie cars (as an arm of an american company)
virgin are one of the companys outed paying little or no taxes in australia.
now they want me to bail em out?
I agree in that looking at their origins, seems a cosy solution for the Govt of the day to be favourable in order to enable a viable multinational carrier which would enhance the image of Australia being a true blue free enterprise capitalist country . This was a time when the Australian system of direct Govt control over some industries ( the nineties era) was falling from favour with global commerce
on 16-04-2020 10:26 PM
@domino-710 wrote:Get it right boys :
There were 4.60 million passengers carried on Australian domestic commercial aviation (including charter operations) in February 2020, a decrease of 2.2 per cent on February 2019. 4.36 million passengers were carried on RPT flights in February 2020, a decrease of 3.0 per cent on February 2019.
We need only - 1 Carrier - hello.
This is Feb 2020.
Bad time for flying.
What about a good time.
So what went wrong with Virgin Australia Airlines ?
on 16-04-2020 10:39 PM
@tasfleur wrote:Looks like Virgin Airlines is about to collapse, so you are right about that Rogespeed. I really don't know how Australia will cope with only one airline though, I'm not sure it will/can.
I'd like to hear your ideas on it though.
seems someone has put out a lifeline for now
3 of the 5 owner's are definitively venture capitalist minded - 20% stake might be up for takers soon and at 1 cent a share maybe our Govt might invest with a chair on the board in order to better support on behalf of the people if they decide to pursue a 2 airline service
Can always sell the stake some time later at most likely a "poseidon" capital gain and so help refund the economy
on 16-04-2020 10:41 PM
@rogespeed wrote:
@domino-710 wrote:Get it right boys :
There were 4.60 million passengers carried on Australian domestic commercial aviation (including charter operations) in February 2020, a decrease of 2.2 per cent on February 2019. 4.36 million passengers were carried on RPT flights in February 2020, a decrease of 3.0 per cent on February 2019.
We need only - 1 Carrier - hello.
This is Feb 2020.
Bad time for flying.
What about a good time.
So what went wrong with Virgin Australia Airlines ?
They didn't have a viable business model.
Given that they are around 80% foreign owned, not including how many foreign people (as opposed to corporations) own the few shares available to the public, why would any Government want to bail them out?
The government is already stretched trying to provide money to people in Australia who need to eat, pay rent or mortgages. Why would anybody suggest they should support foreign companies? Even ScoMo wouldn't be game to do that. I hope.