You are quite right.Not inconsistent with what QF have done, which has practically ceased as well.
No doubt better off, PS has been quite good in the worst crisis aviation has ever seen.My current thinking: better chance of VA surviving with PS in charge, than the last guy...
I - and this is just my gut - is that VA will survive. Would think more likely that current shareholder(s) are diluted with a new investor(s).
Also strategic in that it sends a government a clear message bail us out or else. Theyhave the long weekend to think about it.Strategic timing being just after 16:00 and therefore closure of ASX before a long weekend.
This was almost inevitable, it doesn't really change anything or bring up anything we didn't already know.
I presume NW WA flying will remain intact (at least the charter operations). Need more detail on that part of the operation which has largely operated at pre-COVID levels since the other cutbacks began.
Oh Juddles your posts always make for an interesting readI am starting to join those that think that Virgin will not actually successfully re-emerge from this catastrophe in travel. I have been plagued by the previous world reality where most of us believed in a need for competition to QF. I am now moving towards the reality that even QF may not survive. So to me, all old bets are now out the window.
Virgin's survival will be a miracle.
Pauly7, I am delighted that you feel my posts are fun I am unashamed of putting myself out there with predictions... someone has to do itOh Juddles your posts always make for an interesting read
QF will absolutely come through this.
The government will ensure that - if it comes to that. In what form they come through is not clear of course. QFi may be grounded and with a very limited network for a while. If QF group was the sole survivor then I think we’d see a forced divesture of Jetstar if nothing new rose from the ashes of VA.
But my personal opinion is that VA will come through too... I’m a little constrained about what I can post in this forum now but what I can say is the AU government will be placing a very firm foot on the neck of their foreign government controlled owners to see what they can make them cough up. Again what form VA will come through this mess in is uncertain.
VA’s biggest weakness right now is that they are not ‘too big to fail’. There are bigger companies that are in equal dire straits.
The government won’t be able to save everyone and they also can’t be seen to be be inequitable in their approach.
They will also be holding back to the absolute last minute to do anything drastic as well, they will expect companies to do as much heavy lifting as possible and yes that might mean the VA and QF FF stores limiting redemptions even further.