Virgin Australia loses $69M Q3 2017

[Melburnian1]

There are two separate threads where the VA A$69 million third quarter 2016-17 loss is discussed.

Perhaps the moderators might please consider combining them.

 

[melb78]

I wonder if it time for JB to be replaced and if the airline should become privately owned.

 

[pauly7]

I wonder if it time for JB to be replaced and if the airline should become privately owned.

Think it's pretty clear he is on the way out / question now is timing.
Privately owned - money is on when rather than if..., and the front runners are now the Chinese with Etihad and Singapore having their hands full trying with their own problems. How a few years changes so much! - then it was NZ, EY and SQ all battling for control, now NZ has dumped VA and run, SQ is being gutted by the Chinese and EY has made awful business investments in their 'equity' alliance that is coming back to bite. Very interesting!

 

[melb78]

yeh it is i am still hoping that singapore will take control of VA out of all the airlines i think they would turn it around

 

[Justchecking]

yeh it is i am still hoping that singapore will take control of VA out of all the airlines i think they would turn it around

Why would they bother? To take control of a loss making AU airline, doesn't sound like a great investment and I don't think the Singaporeans are known for throwing good money after bad. I guess we'll never know how much of VA's 'strategy' was a requirement of their cash injections by other airlines though.

 

[melb78]

i would not go as far as saying bad i am sure Va will retuen to profit soon. if not SQ i suppose one of the 2 chinese carrires would buy it

 

[flydoc]

VA records $185 million loss but stops burning through cash.
The result for the 12 months to June 30 is an improvement on the airline's $224.7 million loss for the same period in 2016. Debt is down. Heading in the right direction but slow progress and a long way to go.
http://www.theage.com.au/business/aviation/virgin-australia-records-185-million-loss-but-stops-burning-through-cash-20170809-gxsv92.html

 

[smeacs]

I'd have to chime in here and say often their flights are at the wrong times, mainly ADL, HBA and CBR. QF seems to just have more options and hence better timing.

 

[cove]

You might want to buy a share or two now that they sell between 10 and 20 cents. I won't bother.