Search found 69 matches

  • 1
  • 2
by Morrofinch
Thu Jun 25, 2020 2:27 am
Forum: Civil Aviation
Topic: Qantas to sack 6000 employees, ground 100 aircraft until mid 2021, retires 747 fleet early
Replies: 79
Views: 14211

Re: Qantas to sack 6000 employees, ground 100 aircraft until mid 2021, retires 747 fleet early

2GB reporting that by the end of this year, especially if domestic borders stay closed for longer (2nd wave), the cuts will "possibly double"

Jump to post
by Morrofinch
Wed Jun 24, 2020 10:55 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - June 2020
Replies: 495
Views: 69324

Re: Australian Aviation Thread - June 2020

https://www.smh.com.au/business/compani ... 555st.html
-->

My thoughts are with the over 5000 QANTAS staff set to be axed on Friday.

https://www.smh.com.au/business/compani ... 555st.html

Jump to post
by Morrofinch
Fri Apr 24, 2020 5:46 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Virgin Australia's administrators find that on an early preliminary examination $6.84 billion is owed to 10,247 known creditors - banks & secured lenders top the scoreboard owed $2.28b. Says creditors could rise to 12,000 https://pbs.twimg.com/media/EWV3bUlUcAENqmd?format=jpg&name=medium Mo...

Jump to post
by Morrofinch
Fri Apr 24, 2020 5:45 am
Forum: Civil Aviation
Topic: Virgin Australia to enter voluntary administration
Replies: 342
Views: 58194

Re: Virgin Australia to enter voluntary administration

Nine, through its newspapers, is reporting that BGH is in discussion with AustralianSuper about its bid. They had led an aggressive campaign against US firms mainly arguing around the "Australian owned" argument. The link about this is below. It has been further revealed on the Nine TV cha...

Jump to post
by Morrofinch
Fri Apr 24, 2020 4:30 am
Forum: Civil Aviation
Topic: Virgin Australia to enter voluntary administration
Replies: 342
Views: 58194

Re: Virgin Australia to enter voluntary administration

Virgin Australia's administrators find that on an early preliminary examination $6.84 billion is owed to 10,247 known creditors - banks & secured lenders top the scoreboard owed $2.28b. Says creditors could rise to 12,000 https://pbs.twimg.com/media/EWV3bUlUcAENqmd?format=jpg&name=medium

Jump to post
by Morrofinch
Fri Apr 24, 2020 4:29 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Virgin Australia's administrators find that on an early preliminary examination $6.84 billion is owed to 10,247 known creditors - banks & secured lenders top the scoreboard owed $2.28b. Says creditors could rise to 12,000 https://pbs.twimg.com/media/EWV3bUlUcAENqmd?format=jpg&name=medium

Jump to post
by Morrofinch
Thu Apr 23, 2020 1:48 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Two updates I have come across today: Fox Sports News Channel has reported that Scurrah is "keen" to keep AFL sponsorship going despite the AFL CEO actively seeking other sponsors. Sky News in AM Agenda reported that the Govt is actively pushing against a full service foreign airline as th...

Jump to post
by Morrofinch
Thu Apr 23, 2020 1:48 am
Forum: Civil Aviation
Topic: Virgin Australia to enter voluntary administration
Replies: 342
Views: 58194

Re: Virgin Australia to enter voluntary administration

Two updates I have come across today: Fox Sports News Channel has reported that Scurrah is "keen" to keep AFL sponsorship going despite the AFL CEO actively seeking other sponsors. Sky News in AM Agenda reported that the Govt is actively pushing against a full service foreign airline as th...

Jump to post
by Morrofinch
Wed Apr 22, 2020 12:12 pm
Forum: Civil Aviation
Topic: Virgin Australia to enter voluntary administration
Replies: 342
Views: 58194

Re: Virgin Australia to enter voluntary administration

eta unknown wrote:
John Thomas wont be going anywhere if Elizabeth Bryan remains on the board- she's the one rumoured to have ejected him.


If I was a gambling man, I would bet that the board will either get a complete makeover or cease to exist.

Jump to post
by Morrofinch
Wed Apr 22, 2020 12:05 pm
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

John Thomas is considered a likely option to be the new CEO of VA on the other side according to AFR. https://www.afr.com/companies/transport/ex-virgin-australia-heir-mulls-running-recapitalised-airline-20200422-p54m1d All I got was a headline report and nothing more. I am not trying to make this p...

Jump to post
by Morrofinch
Wed Apr 22, 2020 10:46 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

https://www.afr.com/companies/transport ... 422-p54m1d
-->

John Thomas is considered a likely option to be the new CEO of VA on the other side according to AFR.

https://www.afr.com/companies/transport ... 422-p54m1d

Jump to post
by Morrofinch
Wed Apr 22, 2020 10:45 am
Forum: Civil Aviation
Topic: Virgin Australia to enter voluntary administration
Replies: 342
Views: 58194

Re: Virgin Australia to enter voluntary administration

https://www.afr.com/companies/transport ... 422-p54m1d
-->

John Thomas is considered a likely option to be the new CEO of VA on the other side according to AFR.

https://www.afr.com/companies/transport ... 422-p54m1d

Jump to post
by Morrofinch
Wed Apr 22, 2020 6:31 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Just in: It is understood that NH has approached SQ to try and reach a deal for VA. It is understood NH was interested in a 50/50 arrangement which SQ knocked back. SQ has reportedly given assurances it will not stand in the way of NH however. Source: Reuters Link to this? Or literally "just i...

Jump to post
by Morrofinch
Wed Apr 22, 2020 5:10 am
Forum: Civil Aviation
Topic: Virgin Australia to enter voluntary administration
Replies: 342
Views: 58194

Re: Virgin Australia to enter voluntary administration

moa999 wrote:
Morrofinch wrote:
SQ has reportedly given assurances it will not stand in the way of NH however.


SQ has no power now. administrator in control.


Probably more in terms of Star Alliance issues. Like dating your cousins ex in layman terms.

Jump to post
by Morrofinch
Wed Apr 22, 2020 5:02 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Just in: It is understood that NH has approached SQ to try and reach a deal for VA. It is understood NH was interested in a 50/50 arrangement which SQ knocked back. SQ has reportedly given assurances it will not stand in the way of NH however.

Source: Reuters

Jump to post
by Morrofinch
Wed Apr 22, 2020 5:01 am
Forum: Civil Aviation
Topic: Virgin Australia to enter voluntary administration
Replies: 342
Views: 58194

Re: Virgin Australia to enter voluntary administration

Just in: It is understood that NH has approached SQ to try and reach a deal for VA. It is understood NH was interested in a 50/50 arrangement which SQ knocked back. SQ has reportedly given assurances it will not stand in the way of NH however.

Source: Reuters

Jump to post
by Morrofinch
Wed Apr 22, 2020 3:42 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

https://www.theaustralian.com.au/inquirer/virgin-on-a-wing-and-a-prayer/news-story/6f5d3e851a62c0a9e2649e20c60663d7 Quite an article. It is such a complex issue. Did JB make mistakes? Absolutely But did he do what he promised? Yes and he did it well. Ultimately the Board accepted his vision when the...

Jump to post
by Morrofinch
Wed Apr 22, 2020 3:41 am
Forum: Civil Aviation
Topic: Virgin Australia to enter voluntary administration
Replies: 342
Views: 58194

Re: Virgin Australia to enter voluntary administration

https://www.theaustralian.com.au/inquirer/virgin-on-a-wing-and-a-prayer/news-story/6f5d3e851a62c0a9e2649e20c60663d7 Quite an article. It is such a complex issue. Did JB make mistakes? Absolutely But did he do what he promised? Yes and he did it well. Ultimately the Board accepted his vision when the...

Jump to post
by Morrofinch
Wed Apr 22, 2020 12:12 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Breaking: The majority of bond holders are likely to block any bid which does not get them larger than a 60 cent return on their dollar investment. This makes it likely that many buyers will no longer interested and increases the chances of liquidation occurring.

Source: Nine Group

Jump to post
by Morrofinch
Wed Apr 22, 2020 12:10 am
Forum: Civil Aviation
Topic: Virgin Australia to enter voluntary administration
Replies: 342
Views: 58194

Re: Virgin Australia to enter voluntary administration

Breaking: The majority of bond holders are likely to block any bid which does not get them larger than a 60 cent return on their dollar investment. This makes it likely that many buyers will no longer interested and increases the chances of liquidation occurring.

Source: Nine Group

Jump to post
by Morrofinch
Tue Apr 21, 2020 9:25 am
Forum: Civil Aviation
Topic: Virgin Australia to enter voluntary administration
Replies: 342
Views: 58194

Re: Virgin Australia to enter voluntary administration

Its a sad day for the employees of VA, great airline friendly FA's yes badly ran through the JB years. I don't know the ins and outs or running a business let alone an airline but by a lot of the posts on here seems like a lot of people are glad that VA is going down. Going by the news tonight it s...

Jump to post
by Morrofinch
Tue Apr 21, 2020 9:25 am
Forum: Civil Aviation
Topic: Virgin Australia to enter voluntary administration
Replies: 342
Views: 58194

Re: Virgin Australia to enter voluntary administration

SCFlyer wrote:
Morrofinch wrote:
JUST IN: It has been reported that NH is the preferred choice by Scurrah and the board.


What source or news show?


ABC Radio

Jump to post
by Morrofinch
Tue Apr 21, 2020 9:22 am
Forum: Civil Aviation
Topic: Virgin Australia to enter voluntary administration
Replies: 342
Views: 58194

Re: Virgin Australia to enter voluntary administration

JUST IN: It has been reported that NH is the preferred choice by Scurrah and the board.

Jump to post
by Morrofinch
Tue Apr 21, 2020 8:02 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Big update: https://www.smh.com.au/business/compani ... 54lv1.html Most interesting line "Budget airline group Arizona-based Indigo Partners is another speculated to have registered " Second most interesting line "although according to insiders this number has swollen closer to 20 as ...

Jump to post
by Morrofinch
Tue Apr 21, 2020 8:01 am
Forum: Civil Aviation
Topic: Virgin Australia to enter voluntary administration
Replies: 342
Views: 58194

Re: Virgin Australia to enter voluntary administration

Big update: https://www.smh.com.au/business/companies/bidders-line-up-as-virgin-clears-the-debt-20200421-p54lv1.html Most interesting line "Budget airline group Arizona-based Indigo Partners is another speculated to have registered " Second most interesting line "although according to...

Jump to post
by Morrofinch
Tue Apr 21, 2020 6:53 am
Forum: Civil Aviation
Topic: Virgin Australia to enter voluntary administration
Replies: 342
Views: 58194

Re: Virgin Australia to enter voluntary administration

I have a question for everyone. If you were in Scurrah/Deloitte shoes, which direction would you take?

Jump to post
by Morrofinch
Tue Apr 21, 2020 4:43 am
Forum: Civil Aviation
Topic: Virgin Australia to enter voluntary administration
Replies: 342
Views: 58194

Re: Virgin Australia to enter voluntary administration

https://www.executivetraveller.com/news/virgin-australia-mk-ii-everything-is-on-the-table Including the obvious stuff such as reduced fleet, most firms had varying "domestic-only" proposals such as 1-class LCC, 1-class Hybrid, and the odd proposal or two had a 2-class domestic carrier wit...

Jump to post
by Morrofinch
Tue Apr 21, 2020 2:09 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

The Govt has appointed Nicholas Moore to be the govt's representative in this process. He is known for playing hard ball and being ruthless at all costs.

Jump to post
by Morrofinch
Tue Apr 21, 2020 1:43 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Further to my above comments: "Virgin's administrator says there are more than ten parties interested in the airline, with some coming forward overnight #auspol" - @MattDoran91 (ABC SENIOR JOURNO) At this stage, it seems positive. Now is not the time to panic that VA will be liquidated. Th...

Jump to post
by Morrofinch
Tue Apr 21, 2020 1:34 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Etihad will not buy into VA without significantly cashed-up backing, likewise for SQ however, HNA, well let's say they have a somewhat unlimited gold reserve in Beijing. It's almost like you could track bankrupt airlines by looking at EY's investment portfolio, perhaps QR could look into it I don't...

Jump to post
by Morrofinch
Tue Apr 21, 2020 12:51 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Take the leased assets? then leave all the owned assets with the Administrators to sell off to recoup some of the debt left behind by VA MK1. Lemme guess, the usual suspects of SQ, EY (or DL). The SQ saga has been a 5 year saga of "Fake News". I heard it was ETD which was interested. (May...

Jump to post
by Morrofinch
Tue Apr 21, 2020 12:41 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Just an interesting pick up in the ASX statement: "Velocity Frequent Flyer, while owned by the Group, is a separate company and is not in administration." To me personally, this reads they expect the group to largely survive and they do not want Velocity to be touched as it will be key to ...

Jump to post
by Morrofinch
Tue Apr 21, 2020 12:38 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

I think we are going to see a very quickly moving story. Expect the unexpected. I can see that being the case already with new reports surfacing that one or two major shareholders may try and buy back into VA minus the debt and with a bigger stake. Take the leased assets? then leave all the owned a...

Jump to post
by Morrofinch
Tue Apr 21, 2020 12:29 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

I think we are going to see a very quickly moving story. Expect the unexpected. I can see that being the case already with new reports surfacing that one or two major shareholders may try and buy back into VA minus the debt and with a bigger stake. Take the leased assets? then leave all the owned a...

Jump to post
by Morrofinch
Tue Apr 21, 2020 12:05 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

I think we are going to see a very quickly moving story. Expect the unexpected.

I can see that being the case already with new reports surfacing that one or two major shareholders may try and buy back into VA minus the debt and with a bigger stake.

Jump to post
by Morrofinch
Mon Apr 20, 2020 1:06 pm
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

The ol 'SQ' fake news chestnut that's been ongoing for the past 5 years. The other I'm assuming Virgin Group/Branson but isn't contributing for numerous (and 'arguably' selfish reasons) SQ has basically said no to taking over VA. There are some rumours I have heard they may chase TT AOC to open Sco...

Jump to post
by Morrofinch
Mon Apr 20, 2020 1:02 pm
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

The rebirth was stillborn. After pouring all this money (sugardaddy funded) into becoming an upmarket carrier, they still didn't manage to charge more than QF- it was a stupid strategy that the board should have stopped, but rather than recognise their own failures continued to let it roll. Nobody ...

Jump to post
by Morrofinch
Mon Apr 20, 2020 12:47 pm
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

JB did do a good thing for VA but he probably stayed on for one or two years too long. I think one of the saddest things of all of this (obviously other than job losses etc) is the capital and time invested into VA to make it into what it is today. It never really will get its chance for the second...

Jump to post
by Morrofinch
Mon Apr 20, 2020 12:20 pm
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

I think one thing that is a genuine shame is that Scurrah never will get to turn his vision into a reality. I feel like if he was given time then he probably would have turned VA into a profitable airline. He knew VA had some strong areas and some weak areas and he seemed like he really was going to...

Jump to post
by Morrofinch
Mon Apr 20, 2020 12:10 pm
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Not really sure if that's true or if we'll be able to tell 10 is making a profit for ViacomCBS. Nevertheless, VA already has five cashed up indirect owners. Two of them with strategic reasons to still want to be involve, but even they don't want to stay on. The ol 'SQ' fake news chestnut that's bee...

Jump to post
by Morrofinch
Mon Apr 20, 2020 12:06 pm
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Well I mean the last big company to go into administration was Channel 10. They returned stronger. All it takes is one keen buyer and because Aus has such a lucrative domestic market in terms of monetary value and feeder value, I think VA very well may get a cashed up owner who takes it to QANTAS N...

Jump to post
by Morrofinch
Mon Apr 20, 2020 11:59 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

I think you're quite optimistic. One in 4 companies in voluntary administration survive. VA has $5 Billion in debt. Most of its viable assets can probably currently be found on sale. Its lucrative SYD slots will be put back into a pool for another airline to come and use at their disposable. Even V...

Jump to post
by Morrofinch
Mon Apr 20, 2020 11:51 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Definitely. It remains highly likely that it will re-emerge from administration though it will be smaller operation. In addition, Voluntary Administration isn't always a death knell, but is certainly a better option than a creditor/court appointed Receivership. I've seen voluntary administration us...

Jump to post
by Morrofinch
Mon Apr 20, 2020 11:26 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Does anyone know who major VA bond holders are? They very may well decide its fate.

Jump to post
by Morrofinch
Mon Apr 20, 2020 11:12 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

TN486T wrote:
Morrofinch, do you have a confirmed source re your post 815?


Anecdotally was mentioned by some News Corp (I think News Corp) journo on the radio. May of meant it figuratively or literally.

Jump to post
by Morrofinch
Mon Apr 20, 2020 10:54 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

I have heard reporting that Joyce and his senior staff are having celebratory drinks tonight......

EDIT: This appears to be of been figurative speech

Jump to post
by Morrofinch
Mon Apr 20, 2020 7:31 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Some more positive speculation- RN drive: Apparently VA asked all interested suitors to have a representative to video call into the Board meeting tonight: The following airlines are rumoured to have agreed to appear so far: MU NH QR TK EK AF So is this becoming a “Claytons Auction” whereby the abo...

Jump to post
by Morrofinch
Mon Apr 20, 2020 7:18 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Some more positive speculation-

RN drive: Apparently VA asked all interested suitors to have a representative to video call into the Board meeting tonight:
The following airlines are rumoured to have agreed to appear so far:
MU
NH
QR
TK
EK
AF

Jump to post
by Morrofinch
Mon Apr 20, 2020 7:07 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

I would like to publicly acknowledge the 10000 people who are going to have an absolute shattering day tomorrow. All of them, from the CEO to Flight Crew to the Maintenance to HR will be going through possibly the worst days of their live and probably much worse than many ever experience. It is a sh...

Jump to post
by Morrofinch
Mon Apr 20, 2020 6:40 am
Forum: Civil Aviation
Topic: Australian Aviation Thread - April 2020
Replies: 1158
Views: 117825

Re: Australian Aviation Thread - April 2020

Sky just reported just has reported some stuff about this next stage if administration occurs: (Apparently a Deloitte insider) - All leases to broken - Management given the boot - Not one employee will receive pay from 1st May - A "fire sale" of 737 and 777/ AOC etc to one buyer (wether th...

Jump to post
  • 1
  • 2