Virgin Australia AGM/financials

[flydoc]

Some interesting info out of the VA AGM today:
- still losing money- $36.4 million dollar loss for Q1 2016-17 ($224 million dollar loss FY 2015-16)
-JB foreshadows fleet and people restructures to save $300 million in the next 3 years and to align with increased US (MEL-LAX) and Asian focus
- 3 new board directors added from Asian partner/shareholder groups

 

[Melburnian1]

flydoc, if I'm not mistaken the first two of those three items were previously highlighted in media reports.

A concerning situation. As I have elsewhere commented, one wonders if VA will ever make any money, and whether it will ever come remotely close to covering the cost of its capital.

 

[anat0l]

A concerning situation. As I have elsewhere commented, one wonders if VA will ever make any money, and whether it will ever come remotely close to covering the cost of its capital.

I doubt it's that grim. I think they are on an upswing, a la Qantas during their recent restructure.

It would be interesting to see how much of the loss was mitigated due to the price of fuel. We know VA's hedging has not been the best, but the cheaper fuel price must have meant some improvement on the bottom line.

It'd be also interesting to see what VA have in mind for capital works in the next year or so. They seem to be doing quite a lot for a carrier whose outlook seems all negative (except to those who are in charge).

Anyway, this is probably the umpteenth thread talking about the VA financial situation.

 

[nlagalle]

I'd say it's certainly not as rosy as Qantas, things look far worse at VA. I still think there was more truth to that article than many think

 

[Melburnian1]

I still think there was more truth to that article than many think

To which article are you referring?

 

[nlagalle]

The one that appeared mysteriously talking about the poor state of the VA financials.