Virgin Australia is running out of cash

[davidc4430]

Virgin Australia is running out of cash and facing downgrades as coronavirus grounds planes, costs jobs

https://www.abc.net.au/news/2020-04-03/virgin-australia-is-running-out-of-cash-downgrade-coronavirus...

i believe virgin were on shakey ground before the virus, the virus has just sped up their crash.

as much as comentators say we need at least 2 ailines in australia history shows we cant support 2 airlines.

just like we couldnt support car making.

i dont think the tax payer should be giving this multi nation company any bail outs.

let them get it from their mega wealthy boss

[eol-products]

Last year Virgin carried 25 million passengers which to me seams like we need 2 airlines.

[davidc4430]

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@eol-products wrote:

Last year Virgin carried 25 million passengers which to me seams like we need 2 airlines.

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it would appear 25 million isnt enough?

any ideas how many quantas flew?

[davidc4430]

acording to wikipedia 2019 quantas flew 56 million

[twyngwyn]

I've posted this radar tracking elsewhere.....interesting to watch where all the planes are: drag over worldwide map

https://www.flightradar24.com/QFA693/24504850

[rogespeed]

Maybe bail then out for non-controlling shares in the company , then when this problem is resolved and the share price rises , sell them for a capital gain which will pay for the bail out and hopefully some left over for the start of a sovereign fund ( like we had and drew upon during the last economic challenge ) 

[eol-products]

Don't forget Qantas is 49% foreign owned.

[icyfroth]

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@eol-products wrote:

Don't forget Qantas is 49% foreign owned.

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Which means Australia is the main shareholder @ 51%

[davidc4430]

how much of virgin is foreign owned?