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VA Running low on Cash?

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esquire

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Re: QANTAS's domestic sale(s)

Current "Australia-Wide" sale has some great Flexi fares on sale - considerably undercutting VA flexis on PER routes... interesting !
 

Sprucegoose

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Current "Australia-Wide" sale has some great Flexi fares on sale - considerably undercutting VA flexis on PER routes... interesting !
They only have a months cash flow in hand according to the media
 

Must...Fly!

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Re: QANTAS's domestic sale(s)

They only have a months cash flow in hand according to the media
To be clear that's Virgin, which I wasn't actually aware of.

Paints a somewhat concerning picture but everyone seems confident they are on track long term, and other financiers are apparently happy to back them in in the short term.
 

anat0l

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Re: QANTAS's domestic sale(s)

They only have a months cash flow in hand according to the media
This might have to be moved to another thread, but.... what does that mean?

Virgin (or Qantas) only have a month's worth of money left in the sock drawer? Didn't they just get a $90M loan? Apart from that, surely they must have some other cash in the bank.
 

Must...Fly!

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Re: QANTAS's domestic sale(s)

This might have to be moved to another thread, but.... what does that mean?

Virgin (or Qantas) only have a month's worth of money left in the sock drawer? Didn't they just get a $90M loan? Apart from that, surely they must have some other cash in the bank.
This explains it and is what I based my reply on - Virgin Australia Gets Samoa, Etihad Debt to Fight Qantas - Bloomberg

Spin-off thread is probably a good idea, if a mod could organise it.
 

pauly7

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Re: QANTAS's domestic sale(s)

To be clear that's Virgin, which I wasn't actually aware of.
Yes lucky Virgin have that emergency loan from their international owners lines up just in case!
 

toowongman

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Re: QANTAS's domestic sale(s)

Too early to ask if we should start using up all our points? :p
 

yohy?!

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Re: QANTAS's domestic sale(s)

Don't think it's really a concern given the AR terms for airlines are basically prepayment for everything - as long as their forward bookings don't collapse (like QF's did after the grounding) it's not really an issue just a quirk of the industry
 

lovestotravel

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Re: QANTAS's domestic sale(s)

Apart from points I earn from Lumo Energy and other partners of the Velocity program I am not putting any more points towards VA

They can only keep spending and burning cash for so long and as I have over 2 Million Velocity points and really need to burn them ASAP

I'll add that I am not overly concerned just yet, as their much better run partners Air NZ, Etihad and Singapore Air have given them more $$ but either way it can only continue for so long...

VA continue to chase the corporate market, but to me, they don't seem to be able to retain them for that long.....

I believe they have tried to bite off more than they can handle!
 
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eastwest101

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Re: QANTAS's domestic sale(s)

They can only keep spending and burning cash for so long and as I have over 2 Million Velocity points and really need to burn them ASAP
That is a scary amount of points - I would encourage you to use some of them in the next year or so.
 

lovestotravel

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Re: QANTAS's domestic sale(s)

That is a scary amount of points - I would encourage you to use some of them in the next year or so.
Was a result of lots of previous VA flying and transfers to take advantage of % bonus offers and taking advantage of the shop and earn store "glitches"

Even burning them MEL-LAX-MEL in J that's 10 return flights, and most other redemptions are a waste.

Shame that burning them on SQ is WAY overpriced
 

Ansett

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Re: QANTAS's domestic sale(s)

I'll add that I am not overly concerned just yet, as their much better run partners Air NZ, Etihad and Singapore Air have given them more $$ but either way it can only continue for so long...

And who had ownership of Ansett at the time of its collapse???? I do belive it was one of the above better run airlines! One that has also just increased its shareholding in Virgin

Be afraid very afraid :D :D :D
 

lovestotravel

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Re: QANTAS's domestic sale(s)

I'll add that I am not overly concerned just yet, as their much better run partners Air NZ, Etihad and Singapore Air have given them more $$ but either way it can only continue for so long...

And who had ownership of Ansett at the time of its collapse???? I do belive it was one of the above better run airlines! One that has also just increased its shareholding in Virgin

Be afraid very afraid :D :D :D
Air NZ and Singapore Air would love to get full ownership of VA

No idea if that's possible, but if things go further downhill at VA.
 

casanovawa

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Re: QANTAS's domestic sale(s)

Jmmm, just i start to try and earn a few Velocity points....

I'd rather keep a good portion of VA in Australian hands as those other two airlines will just do what's best for them...

Are there still some of those glitches in the shop and earn store???
 

AdMEL

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Re: QANTAS's domestic sale(s)

I'll add that I am not overly concerned just yet, as their much better run partners Air NZ, Etihad and Singapore Air have given them more $$ but either way it can only continue for so long...

And who had ownership of Ansett at the time of its collapse???? I do belive it was one of the above better run airlines! One that has also just increased its shareholding in Virgin

Be afraid very afraid :D :D :D
Not to mention if I remember correctly, the very same airline which owned Ansett had to be bailed out by their country's government!
 

lukenet

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Re: QANTAS's domestic sale(s)

Tiger Airways (before VA purchase) was not really a shining example of how to run an Airline. That was SQ owned if I remember correctly.
 

Supersonic Swinger

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Re: QANTAS's domestic sale(s)

And who had ownership of Ansett at the time of its collapse???? I do belive it was one of the above better run airlines! One that has also just increased its shareholding in Virgin
People who blame Air NZ for Ansett's demise seem to forget that from 1979 until February 2000, managerial control of Ansett was held by News Corporation. Say what you will about Rupert Murdoch's ability to run a media business, but he sure couldn't run an airline. It had a expensive mix of planes of almost every type and size and capital expenditure to upgrade the fleet was almost non-existent. Some say Air NZ should have known better what they were getting into as they had owned 50% since 1995, but News Corp still had managerial control and as anyone who has only a 50% interest in a business will know, it restricts how much information you get. Ansett was already a steaming heap before Air NZ bought the remaining 50%, some argue that News hid the extent of it from Air NZ so that Murdoch had a sucker to pay them cash to exit the Ansett investment before it fell over.

Air NZ should never have bought into Ansett and let it go under under Murdoch's watch like anything else he touches that isn't a newspaper or TV station (hello, Myspace).
 
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