Virgin Australia Financially Secure? [Now in Voluntary Administration] | Page 41 | Australian Frequent Flyer
Australian Frequent Flyer

Welcome to Australia's leading independent Frequent Flyer and Travel Resource since 1998!
Our site contains tons of information that will improve your travel experience.

Joining AFF is fast, simple & absolutely free - register now and take immediate advantage of these great BENEFITS.

Once registered, this box will disappear. And you will see fewer advertisements :)

Login Now to remove this and all advertisements (GOLD and SILVER members)
Not a member? Register Now for free

Virgin Australia Financially Secure? [Now in Voluntary Administration]

SheikYerbouti

Member
Joined
Mar 15, 2017
Messages
112
Unless you get outta Dodge now and transfer your points to SQ. Sure, you'll lose a few in the transfer but better than nothing IMO.
Yeah I used up all my points to book a dream trip to Iceland on SQ in Sept... only 50% confident it'll happen though :(

But all that Status etc, gorne.

Post automatically merged:

I don't know a lot about Ansett but have read a few articles and wonder why you feel there are similarities between the two.
Because for most people, they had status, FF points, etc, and then within a couple of weeks (it seemed), the airline was gone and all that hard-earned status etc vanished and you were left with flying Qantas up the back of economy. That's what I fear is about to happen to us.

But on the other hand, for loads of people, their employers/jobs won't be around in 3 months' time anyway so it's not like they'll be worried about business travel.
 

davidj

Active Member
Joined
May 9, 2009
Messages
530
Yeah I used up all my points to book a dream trip to Iceland on SQ in Sept... only 50% confident it'll happen though :(
Was that ticketed by VA? Be cautious, as the operating airline may not honour the ticket when VA is no longer around.
 

hydrabyss

Active Member
Joined
Jan 31, 2012
Messages
625
Flights
My Map
Yeah I used up all my points to book a dream trip to Iceland on SQ in Sept... only 50% confident it'll happen though :(

But all that Status etc, gorne.

Post automatically merged:



Because for most people, they had status, FF points, etc, and then within a couple of weeks (it seemed), the airline was gone and all that hard-earned status etc vanished and you were left with flying Qantas up the back of economy. That's what I fear is about to happen to us.

But on the other hand, for loads of people, their employers/jobs won't be around in 3 months' time anyway so it's not like they'll be worried about business travel.
From what I read about Ansett it was just a matter of time before they where finished. Their running cost base was so high compared to others no wonder Virgin came along as there was money to be made. It would not have made sense to help them out as fundamentally there was too much wrong with it.

I feel Virgin is in a different position than Ansett with much too offer the broader tourism industry the only issue I see is what will tourism be in six months time. Until a cure is made I doubt the border restrictions will be lifted and domestic is anyone's guess.

I see airlines as being important infrastructure and having two keeps the consumer cost down which encourages further spending in other areas. Having Qantas on its own would just benefit executives and share holders.
 

p--and--t

Established Member
Joined
Sep 28, 2008
Messages
1,997
Qantas
Bronze
Virgin
Red
From what I read about Ansett it was just a matter of time before they where finished. Their running cost base was so high compared to others no wonder Virgin came along as there was money to be made. It would not have made sense to help them out as fundamentally there was too much wrong with it.

I feel Virgin is in a different position than Ansett with much too offer the broader tourism industry the only issue I see is what will tourism be in six months time. Until a cure is made I doubt the border restrictions will be lifted and domestic is anyone's guess.

I see airlines as being important infrastructure and having two keeps the consumer cost down which encourages further spending in other areas. Having Qantas on its own would just benefit executives and share holders.
If things really turn to 💩 economically & the guvment has a choice between having one of the very few remaining operational airlines in the world to restart things up or following a PC anti-competitive line of trying to stimulate a competitive environment from empty federal coffers, pretty sure I know what they will be doing.
 

Must...Fly!

Established Member
Joined
Jan 12, 2010
Messages
3,833
Qantas
Bronze
Virgin
Platinum
Well I am sure VA and QF will qualify for today's announcement by the federal government for wage assistance. This will assist as VA will not be under obligation to pay out leave or (as I understand it) pay at the normal rate of wages, unless staff choose to do so. This will preserve cash.
 

jase05

Established Member
Joined
Jan 24, 2018
Messages
2,155
Qantas
Gold
Virgin
Platinum
Very interesting article in the Australian on VA seeking a $1.4bn loan package to ensure survival and that the plan would see the government take an ownership stake in the company if the loan was unable to be paid within 2-3 years
 
Last edited:

Must...Fly!

Established Member
Joined
Jan 12, 2010
Messages
3,833
Qantas
Bronze
Virgin
Platinum
Very interesting article in the Australian on VA seeking a $1.4bn loan package to ensure survival and that the plan would see the government take an ownership stake in the company if the loan was unable to be paid within 2-3 years
Is this in tomorrow's Aus?
 

Must...Fly!

Established Member
Joined
Jan 12, 2010
Messages
3,833
Qantas
Bronze
Virgin
Platinum
Thanks.

VA stocks are in a trading halt this morning. It's not immediately clear who implemented/requested it.
 

Must...Fly!

Established Member
Joined
Jan 12, 2010
Messages
3,833
Qantas
Bronze
Virgin
Platinum
They are running out of money and unless Govt intervenes VA is going to be wiped off from ASX as it cannot survive this for long.
That is not the reason for the pause in trading, the news articles themselves state VA have at least 6 months cash on hand.
 

Coops1

Member
Joined
Nov 20, 2012
Messages
343
Flights
My Map
Transferred 200k to SQ last week to cover more bases......transfer button has disappeared now.
 

JJS

Newbie
Joined
Jul 9, 2019
Messages
7
Was able to transfer points 15 minutes ago and points are appearing in KF account. And just checking now - transfer page remains active.
 

knagelli

Active Member
Joined
Jul 26, 2019
Messages
509
Qantas
Bronze
Virgin
Platinum
Flights
My Map
That is not the reason for the pause in trading, the news articles themselves state VA have at least 6 months cash on hand.
That is true but without revenue being generated , the operating costs ( maintaining the aircrafts) over weigh the cash on hand. Also with all the cancellations/reschedules and majority of flight operations halted , it is not far for them to be struggling for revenue/financial resources.
 

ramboflyer

Member
Joined
Dec 14, 2004
Messages
237
Flights
My Map
Transferred 200k to SQ last week to cover more bases......transfer button has disappeared now.
Interesting. I transferred all mine to SQ last night which I was 95% sure of doing with or without CV. Just checked and transfer link is still there.
 

hydrabyss

Active Member
Joined
Jan 31, 2012
Messages
625
Flights
My Map
That is not the reason for the pause in trading, the news articles themselves state VA have at least 6 months cash on hand.
I found this

Virgin Australia shares have been placed in a trading halt pending an announcement from Air New Zealand regarding its shareholding on Tuesday.
 

AisleSeat

Established Member
Joined
Nov 11, 2016
Messages
1,140
Flights
My Map
I've decided to stick with Velocity for the time being, but have created and linked a Krisflyer account just in case.
 

Community Statistics

Threads
85,715
Messages
2,036,082
Members
52,974
Latest member
Andy114
Top