One step closer to an IPO?

[Brizz]

Hi All - in the SMH today...

Bain picks UBS, Goldman and Barrenjoey on potential Virgin IPO

The potential float of Australia’s second-biggest carrier is inching closer, with its private equity owner expected to seek a valuation of more than $3 billion if the IPO goes ahead.

www.smh.com.au

They are picking their partner(s) to provide advice on the IPO etc...

 

[cove]

Will wait for the prospectus. Virgin simplified their business and are making profits. Qantas has antagonized their customers with very ordinary service and have a CEO who is pretty useless at fixing staff morale.
Virgin in 2023 is a much better proposition than the previous model.
I just wish they had some wide body planes for the longer flights as Sydney to Perth in a 737 flying into the headwind is a struggle.

 

[Saab34]

with very ordinary service and have a CEO who is pretty useless at fixing staff morale.

From what I picked up talking to a VA Captain recently, grass isn’t much greener on the other side (he made out like it’s worse). Pretty disgraceful things I heard about how some employees (long loyalty) have been treated, pushed around, completely ignored. Must be an aviation thing, I work for a top 10 ASX and have never witnessed such morale issues at my employer to the scale that goes on in these places.

 

[jakeseven7]

From what I picked up talking to a VA Captain recently, grass isn’t much greener on the other side (he made out like it’s worse). Pretty disgraceful things I heard about how some employees (long loyalty) have been treated, pushed around, completely ignored. Must be an aviation thing, I work for a top 10 ASX and have never witnessed such morale issues at my employer to the scale that goes on in these places.

There has been a mass exodus of VA2 frontline staff from the BNE base that has compounded their poor service reliability of late, but my understanding was it was actually a misc of newcomers and long-timers, so I’m not sure what you are referring to specifically?

 

[Saab34]

The person I spoke to has been an employee for 15 years, got sent to another base forced to commute (otherwise don’t come), then asked the company for old base back family falling apart, mental health etc, they said no dice stiff. Meanwhile they are hiring positions. Pretty poor if you ask me.

Pretty disgraceful treatment, I mean imagine someone buying out your company and re hiring everyone, except sending you to another city. Then hiring people for your old job while you’re paying out of your own pocket commuting expenses just to please the company. I was made redundant once, they told me the same job exists xx km away, no problem I said, but your paying for me to travel to this new location, not coming out of my pocket while the executive team earns together $20m a year.

Front line staff busting their chops and paying xx $ to suit the company while executives pull in millions me really pisses me off.

 

[antycbr]

Will wait for the prospectus. Virgin simplified their business and are making profits. Qantas has antagonized their customers with very ordinary service and have a CEO who is pretty useless at fixing staff morale.
Virgin in 2023 is a much better proposition than the previous model.
I just wish they had some wide body planes for the longer flights as Sydney to Perth in a 737 flying into the headwind is a struggle.

Your statements contradict themselves. They simplified their business but you want widebodies which VA have a poor track record of using profitably?

 

[cove]

Yes we live mostly in Perth so wide body planes keep us with Qantas.

 

[Must...Fly!]

The person I spoke to has been an employee for 15 years, got sent to another base forced to commute (otherwise don’t come), then asked the company for old base back family falling apart, mental health etc, they said no dice stiff. Meanwhile they are hiring positions. Pretty poor if you ask me.

Pretty disgraceful treatment, I mean imagine someone buying out your company and re hiring everyone, except sending you to another city. Then hiring people for your old job while you’re paying out of your own pocket commuting expenses just to please the company. I was made redundant once, they told me the same job exists xx km away, no problem I said, but your paying for me to travel to this new location, not coming out of my pocket while the executive team earns together $20m a year.

Front line staff busting their chops and paying xx $ to suit the company while executives pull in millions me really pisses me off.

It's not uncommon in the industry and related ones. It's sad.