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    Virgin Australia to be sold to Bain Capital

    I would think that Velocity Australia makes the most sense as an alternative name.
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    Virgin Australia to be sold to Bain Capital

    I'm not sure what this means? Bain could of course change their business plan ... but to what end? Presumably their goal is to get the airline in a position where it is profitable, then sell it. So they will steer the airline in such a way that minimises costs, while attracting the most amount...
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    Virgin Australia to be sold to Bain Capital

    I have no idea. I assumed (before receiving this email) that a credit was a credit - i.e. could be applied to any dollar value on any fare, as you would expect (keeping in mind, they have my money and cancelled my flight). Now, its not the same as a credit, because there is limited use -...
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    Virgin Australia to be sold to Bain Capital

    Here's what got my attention in an email I've just received: "The Future Flight credit can be used for booking on Virgin Australia ... bookings using your credit will be subject to seat availability within the fare class reserved for Future Flight credits ...." So essentially - Virgin has...
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    Virgin Australia to be sold to Bain Capital

    Apologies if this has previously been asked and answered; but are customers with funds owing (e.g. travel bank) 'creditors' and if so, what voting rights do we have?
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    VA no longer issuing credits to travelbank (or anywhere else)

    Curious whether any bank has done what's right by their cardholders and processed and finalised a chargeback? My tickets were paid for with an ANZ Visa and have not only had a disappointing reply (declined chargeback) but ANZ didn't even pass on Virgin's response to the chargeback - just...
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    Virgin Australia Financially Secure? [Now in Voluntary Administration]

    The most interesting bits in the AFR (Virgin leaves workers in the dark) article to me are about the process :
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    Virgin Australia Financially Secure? [Now in Voluntary Administration]

    Given Indigo Partners employs a ultra low cost carrier model, what would buying VA get them? Wouldn't it be in their interest for VA to be liquidated? The airlines they own (Frontier, JetSmart, Volaris, Wizz) all have Airbus A320 (and derivative) fleets. As an ultra-low cost airline, they don't...
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    Virgin Australia Financially Secure? [Now in Voluntary Administration]

    Well, that sounds like there is some alignment between bond holders and lessors.
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    Virgin Australia Financially Secure? [Now in Voluntary Administration]

    So is voting by share of debt? Because that would mean that two of the three groups (if working together): secured creditors (31%), bonds (27%) and lessors (25%); would essentially control the outcome?
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    Virgin Australia Financially Secure? [Now in Voluntary Administration]

    To clarify - I thought the Indigo being discussed is Indigo Partners, which owns airlines like Frontier, Volaris and Wizz. I don't believe that is the same company as IndiGo, the Indian airline.
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    Virgin Australia Financially Secure? [Now in Voluntary Administration]

    The assumption is that their primary driver is profit. But for the Government owned SQ and EY it presumably is ensuring people fly by their cities (for the broader economic benefits, rather than the benefit of the airline itself specifically); and for the Chinese carriers, who knows what the CCP...
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    Virgin Australia Financially Secure? [Now in Voluntary Administration]

    How much of that cash is actually left? And will that money essentially be transferred through voluntary administration from customers to secured creditors? Edit: The Australian says they sought "$100m from the federal government over the weekend so it could keep paying bills for another week —...
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    Virgin Australia Financially Secure? [Now in Voluntary Administration]

    I'm genuinely curious to know how their partnership with Delta works around revenue sharing? For example, if I book a VA codeshare flight on Delta metal, how much difference is there financially compared to if I booked directly with Delta but entered a Velocity FF number? At the moment (i.e...
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    Virgin Australia Financially Secure? [Now in Voluntary Administration]

    Also it is currently a paddock, and won't exist as an airport for another 6 years (2026) ... assuming it is built on time!
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    Virgin Australia Financially Secure? [Now in Voluntary Administration]

    Oh Ma Gawd! Pauline and the Daily Mail called it weeks ago :eek:🤣🤪 https://www.dailymail.co.uk/news/article-8153379/Pauline-Hanson-warns-mass-Chinese-buy-Australia-amid-coronavirus-recession.html
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    Virgin Australia Financially Secure? [Now in Voluntary Administration]

    Yes, he specifically suggested the Transport Workers Union (TWU) super fund should step in. Which I suspect was a little disingenuous and probably intended as a barb at the union/Labor - I took it to essentially be a "if you think this is so important, why don't you put your money where your...
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    Virgin Australia Financially Secure? [Now in Voluntary Administration]

    Firstly, they're both quotes from the same article. Secondly I think you're splitting hairs. My original point in all this is that people were saying that there is a lot of 'negative' posting online (e.g. Facebook) opposing giving Virgin Government assistance. I was pointing out that I had...
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    Virgin Australia Financially Secure? [Now in Voluntary Administration]

    Here's a more detailed quote:
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    Virgin Australia Financially Secure? [Now in Voluntary Administration]

    No, I was right: Qantas boss enlists staff for ‘equal treatment’ fight with Virgin
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