eBay

rogespeed · ‎16-04-2020

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

https://www.bloomberg.com/news/articles/2020-02-19/china-said-to-near-takeover-of-hna-group-as-virus...

eol-products · ‎05-05-2020

Once they went into Voluntary Administration there is no more interest paid on the debt as far as I know.

rogespeed · ‎05-05-2020

@eol-products wrote:
Once they went into Voluntary Administration there is no more interest paid on the debt as far as I know.

So approx 12,000 creditors are suffering loss - yet the call for Govt assistance was to " survive the pandemic" , interesting .

eol-products · ‎05-05-2020

9000 are staff so will be OK. Its the local investors with unsecured bonds that will lose the most. But even those with secured debt will have to do something as selling used aircraft for some time will be hard.

rogespeed · ‎06-05-2020

@eol-products wrote:
9000 are staff so will be OK. Its the local investors with unsecured bonds that will lose the most. But even those with secured debt will have to do something as selling used aircraft for some time will be hard.

I suspect many assets are leased from US companies and under contract

https://www2.deloitte.com/au/en/pages/finance/articles/virgin-australia-holdings-limited-subsidiarie...

https://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-15-bankruptcy-basics

General Motors survived bankruptcy so there is hope of a full recovery and resumption of viable service

https://en.wikipedia.org/wiki/General_Motors_Chapter_11_reorganization

davewil1964 · ‎06-05-2020

Different legal systems.

rogespeed · ‎06-05-2020

@davewil1964 wrote:
Different legal systems.

US companies involved and possibly US creditors - as implied by lodging Article 15 of the US legal system as this enables foreign based companies protections and smoother legal negotiations within the US legal environment