What is Virgin Australia's strategy (post-administration)?

[MooTime]

That's exactly why you fight for better conditions with your current employer.

Well I was being sarcastic.

QF employee's been fighting for better conditions for years n years n years to no avail.
They end up being sacked.
The sooner AJ departs the better I imagine for many lower end staff.
Shirley couldn't be worse.

 

[Must...Fly!]

We try but when we're tired then we pull the plug. Gotta look after ourselves when the company doesn't

Completely agree with you, operational environments can be a really hard slog. And eventually, sometimes your family or personal life needs to win out when you work what feels like non-stop early/late/weekend/night. Look after yourself otherwise you can't really do your job. I see the same patterns at my employer.

 

[PERLHR]

That's exactly why you fight for better conditions with your current employer.

Could be...but also when in the service industry don't forget who actually makes the job alive. Screw me up to much and I'll go somewhere else to take me from A to B. We all have choices in life.

 

[twinaisle]

Sounds like you may need a change of employer.

Why? I love working with VA but will fight for better conditions.

The grass isn't Greener on the other side.

 

[PERLHR]

Why? I love working with VA but will fight for better conditions.

The grass isn't Greener on the other side.

Short memories I think. What was it ... two years ago lucky the airline survived, now it's we want more.

 

[eastwest101]

Short memories I think. What was it ... two years ago lucky the airline survived, now it's we want more.

A lot of the VA staff took pay freezes and /or negotiated away pay rises and or worked longer hours to keep the operation going, the ones who didn't get involuntary or take voluntary redundancies, it's not like the cost of living has gone down since 2020, and the airline must be profitable at the moment, so no reason why modest pay rises combined with efficiency gains couldn't be negotiated.

 

[Must...Fly!]

Short memories I think. What was it ... two years ago lucky the airline survived, now it's we want more.

That's a poor attitude. Yes it was lucky that VA survived, but that shouldn't stop staff from exercising their right to appeal for better pay and conditions. The staff had a part in ensuring the airline maintained the ability to fly and function, they have been somewhat rewarded for that through bonuses etc, however they did also trade things away during the sale process to ensure survival of the airline.

 

[Saab34]

however they did also trade things away during the sale process to ensure survival of the airline.

I don’t see any reason why they shouldn’t get those entitlements back. I mean, the company was down the toilet, they have fixed those major issues, the company is currently very profitable according to some.

It doesn’t sit well with me especially in regards to Private Equity, in that front line staff trade away entitlements to keep the place alive during the bad times, then the good times return, they get nothing back (a few bonus bribes), then the executive team walk off with tens of millions (each!) when it’s floated.

 

[twinaisle]

Short memories I think. What was it ... two years ago lucky the airline survived, now it's we want more.

We basically had no choice. Maybe we should have let them collapse.

With the long work hours and fatigue/sickness then I'm surprised safety hasn't been compromised, yet.

I hope whatever it is you do, you don't have conditions cut. It's best to stay in your own lane and not comment pay or work conditions that personally impact you.

 

[PERLHR]

We basically had no choice. Maybe we should have let them collapse.

With the long work hours and fatigue/sickness then I'm surprised safety hasn't been compromised, yet.

I hope whatever it is you do, you don't have conditions cut. It's best to stay in your own lane and not comment pay or work conditions that personally impact you.

No. Comment from the paying public that actually fly the airline is very important and airline staff actions does impact me if you decide to stop services. Here is the crux: strike and frankly I and many others will simply look for the alternatives and not return then where will you be? Maybe no job at all. I see it often in Australia, far to unionised and some quite frankly not willing to even do a day's work without moaning. For information I actually went nearly 7 years working with the UK government with something like 1 percent wage increase if any at all for quite a few years. You decide what you have to do but sympathy will be sort lived.

 

[Must...Fly!]

You decide what you have to do but sympathy will be sort lived.

I don't believe @twinaisle ever posted looking for sympathy.

 

[twinaisle]

No. Comment from the paying public that actually fly the airline is very important and.do.impact me if you decide to stop services. Here is the crux, strike and frankly me and many others will simply look for the alternatives and not return then where will you be? Maybe no job at all. I see it often in Australia, far to unionised and some quite frankly not willing to even do a day's work without moaning. For information I actually went nearly 7 years working with the UK government with something like 1 percent wage increase if any at all for quite a few years. You decide what you have to do but sympathy will be sort lived.

That's totally fine, if we can't get better working conditions then we all go down together.

There's other airlines in Australia for you to fly with. Why not start now?

Post automatically merged: Jul 5, 2023

I don't believe @twinaisle ever posted looking for sympathy.

You are correct

 

[PERLHR]

That's totally fine, if we can't get better working conditions then we all go down together.

There's other airlines in Australia for you to fly with. Why not start now?

Post automatically merged: Jul 5, 2023

You are correct

Your attitude in comment shows that you actually have no respect for the flying public who fly VA and wish pax away. . Indeed all fall on your sword. How noble and antiquated .

 

[dajop]

Wow, Just wow.

 

[Must...Fly!]

Your attitude in comment shows that you actually have no respect for the flying public who fly VA and wish pax away. . Indeed all fall on your sword. How noble and antiquated .

@twinaisle may be able to correct me if I am wrong, but I don't believe it is written in to their contract to provide all the useful information they do on various VA-related topics on this forum. Funny way of showing no respect to the travelling public.

 

[RAM]

Short memories I think. What was it ... two years ago lucky the airline survived, now it's we want more.

...said the VA II CFO while looking at how Bain & partners have now paid out more in dividends to themselves than the total equity they put in to buying out VA from the administrators. They have now got VA II for no cost.

The pervasive attitude of M$$ has poisoned that global business view of balance between ethics, business and fairness.

After all, in M$$'s case they managed (donated much) to get a global 'Get out of Jail free' pass allowing them to sell a product that is known to have serious flaws that can lead to business failure. Contrast that with their original business model against the original IBM PCDos operating system. The M$$ flawed product perhaps ultimately led to the massive industry that are today's (State-sponsored &/or organised crime) hackers.

Back to workers daring to ask for more - senior management used to acknowledge that without their employees putting in a good effort - the business wouldn't be there to manage. So the idea of some 'give back' (aka profit share with more than just the senior executive and Director's remuneration pool) was a fair and even positive business practice.

Yet today in Australia, in particular, the share of profits going to workers has never been lower since records began. Standing in stark contrast with the ratio of CEO's total remuneration to median remuneration within their respective industry.

Lest we forget...

 

[MooTime]

...said the VA II CFO while looking at how Bain & partners have now paid out more in dividends to themselves than the total equity they put in to buying out VA from the administrators. They have now got VA II for no cost.

The pervasive attitude of M$$ has poisoned that global business view of balance between ethics, business and fairness.

After all, in M$$'s case they managed (donated much) to get a global 'Get out of Jail free' pass allowing them to sell a product that is known to have serious flaws that can lead to business failure. Contrast that with their original business model against the original IBM PCDos operating system. The M$$ flawed product perhaps ultimately led to the massive industry that are today's (State-sponsored &/or organised crime) hackers.

Back to workers daring to ask for more - senior management used to acknowledge that without their employees putting in a good effort - the business wouldn't be there to manage. So the idea of some 'give back' (aka profit share with more than just the senior executive and Director's remuneration pool) was a fair and even positive business practice.

Yet today in Australia, in particular, the share of profits going to workers has never been lower since records began. Standing in stark contrast with the ratio of CEO's total remuneration to median remuneration within their respective industry.

Lest we forget...

out of interest where do yo get the info that Bain & partners have paid out significant dividends to themselves?

hardly a warranted use of "Lest we forget" so many dying for their country & you compare that to some profit share pool of $$ failure, my goodness, hold your head in shame.

 

[Bagpuss]

out of interest where do yo get the info that Bain & partners have paid out significant dividends to themselves?

Bain Capital gets its money back as Virgin soars towards IPO

Virgin’s shareholders – including Bain, the Virgin Group, and Queensland Investment Corp – will each take a share of a $730 million capital return proportionate to their stakes in the airline, or 93 per cent, five per cent, and two per cent respectively.

australianaviation.com.au

 

[MooTime]

Bain Capital gets its money back as Virgin soars towards IPO

Virgin’s shareholders – including Bain, the Virgin Group, and Queensland Investment Corp – will each take a share of a $730 million capital return proportionate to their stakes in the airline, or 93 per cent, five per cent, and two per cent respectively.

australianaviation.com.au

Thankyou for that article.

The previous poster inferred that "Bain & partners have now paid out more in dividends to themselves than the total equity they put in to buying out VA from the administrators. They have now got VA II for no cost."
said in past tense as monies have already been paid to themselves, so much that fully recouped.

The poster above must show evidence of this or edit his the post.

We all know once listed at IPO they are selling a decent portion of their holdings & will recoup $$ in their investment.
standard PE adventure.

 

[RooFlyer]

Your attitude in comment shows that you actually have no respect for the flying public who fly VA and wish pax away. . Indeed all fall on your sword. How noble and antiquated .

Wow. Such perception from a brief 3 line post. Pretty off, actually.