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Virgin Australia to be sold to Bain Capital

HappyFlyerFamily

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Feb 25, 2020
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I agree. The offer is tempting, but the key is, whether we can redeem Velocity points for SQ and other airlines' premium flights.
Just feeling it’s awfully unlikely that you can get other airlines’ award flights. Also unclear when the other airlines will resume more regular flights.
 

flydoc

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Apr 24, 2015
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Interesting. Plans for quite a continued regional presence, including
- ADL-ASP 3 days a week from 6/7 (unsure where that aircraft will go until the return ASP-ADL services start from 20/7?)
-BNE-ISA 3 days a week from 20/7 with the aircraft overnighting at ISA
-LST-MEL return and HBA-MEL return both 3 days a week; LST-SYD return and HBA-SYD return both 2 days a week
 

jamescara

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Jul 18, 2013
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Interesting. Plans for quite a continued regional presence, including
- ADL-ASP 3 days a week from 6/7 (unsure where that aircraft will go until the return ASP-ADL services start from 20/7?)
-BNE-ISA 3 days a week from 20/7 with the aircraft overnighting at ISA
-LST-MEL return and HBA-MEL return both 3 days a week; LST-SYD return and HBA-SYD return both 2 days a week
The other interesting thing about the ADL ASP route is it appears to be exclusively a 737 where as we have quite often copped a F100 on that route (which sucks).
 

jase05

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Just feeling it’s awfully unlikely that you can get other airlines’ award flights. Also unclear when the other airlines will resume more regular flights.
If I was a betting man and I am I would think SQ, DL and NH will jump aboard VA2 and I wouldn’t be surprised if a few old friends also join the fray
 

oliver_adl

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Oct 15, 2019
Messages
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The other interesting thing about the ADL ASP route is it appears to be exclusively a 737 where as we have quite often copped a F100 on that route (which sucks).
Yeah the routes overall look good. I read that they will have plenty of 737's anyway so if standardising on those they can also ensure aircraft sitting around are available in case of problems.

Pretty impressed with what is coming out of VA for July so far.
 

jakeseven7

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Sep 9, 2005
Messages
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The other interesting thing about the ADL ASP route is it appears to be exclusively a 737 where as we have quite often copped a F100 on that route (which sucks).
Its cheaper and simpler for them this way rather than having multiple aircraft types zipping around.
 

HS-TQE

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Apr 5, 2018
Messages
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If I was a betting man and I am I would think SQ, DL and NH will jump aboard VA2 and I wouldn’t be surprised if a few old friends also join the fray
I would say the big 3 "SQ, DL, EY" would be first to jump on as partners under a 'scaled back' arrangement, even if 2 of the 3 mentioned partners are no longer equity partners.

Whilst the old arrangement was great for International FFs, I suspect some of the benefits such as the Velocity-Krisflyer points transfer would be considered 'unsustainable' under the Bain ownership era. Much like how the A330s were condemned to history by pretty much all bidding parties.
 

dajop

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It will be interesting to see the end up doing with Velocity. In the short term the partnerships are meaningless, essentially for the next 6 months, maybe more, in terms of partner benefits and awards. But aspirations are still important to keep the cash coming in and people directing their CC spend to Velocity cards. I
 

serfty

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Aviation analyst Neil Hansford said the acceptance of the Bain proposal did not completely rule out the possibility of a bondholder bid.
This post may be relevant:

 

AustraliaPoochie

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Feb 9, 2014
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4,289
Lets hope Bain capital will make a statement, faster the better, after the 2nd creditors meeting, in concrete, what they plan to do with VAversion2, ie, if they will continue to let it have a FF program, ...
I mean, set in stone so to speak, or in concrete, what their plans are for VFF.
I have 18000 VFF points, and some 8000 FB points.
The sooner Bain announces their plans for VFF, the faster I can plan my next sojourn, apart from going to/via Victoria that is.
 

oz_mark

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Unless the other current airline shareholders agree, Bain's deal will be going nowhere - correct?
Not really a matter the current shareholders have any influence over. They have pretty much done their money.

At the end of the day, at the creditors meetings, it is the creditors that count, by both number and by value.

I think it is more likely that Bain will get the bid up, but is not a certainty just yet.
Post automatically merged:

Lets hope Bain capital will make a statement, faster the better, after the 2nd creditors meeting, in concrete, what they plan to do with VAversion2, ie, if they will continue to let it have a FF program, ...
I mean, set in stone so to speak, or in concrete, what their plans are for VFF.
I have 18000 VFF points, and some 8000 FB points.
The sooner Bain announces their plans for VFF, the faster I can plan my next sojourn, apart from going to/via Victoria that is.
They have already said they will keep the program, and its basic architecture. I'd hope ther plans would come out before the creditors meeting. I'm hoping we'll have a clearer picture in a week or two.
 

RooFlyer

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I assume that its the Deed of Company Arrangement that will formally cancel the shares in Virgin? Does it, or could it, cancel all securities, including bonds (with suitable pay-out arrangements)? ? @RAM
 

drron

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Jul 4, 2002
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As has been pointed out before if Bain win the vote by creditor value but lose the vote by creditor number then the Administrator has the casting vote.As the secured creditors are the most by value and the Bain deal gives them certainty I can't see the Bain deal losing.
 

jakeseven7

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Not really a matter the current shareholders have any influence over. They have pretty much done their money.

At the end of the day, at the creditors meetings, it is the creditors that count, by both number and by value.

I think it is more likely that Bain will get the bid up, but is not a certainty just yet.
Post automatically merged:



They have already said they will keep the program, and its basic architecture. I'd hope ther plans would come out before the creditors meeting. I'm hoping we'll have a clearer picture in a week or two.
Given Bain are now paying VA1’s bills for them, surely they can open up the Velocity store shortly, there are many many people waiting.....
 

Must...Fly!

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Given Bain are now paying VA1’s bills for them, surely they can open up the Velocity store shortly, there are many many people waiting.....
Which means less money available for the restarting of the operation.

They need to settle the airline first and create confidence in frequent flyers that the airline is here for the long haul to prevent another "run on the bank" scenario. I suspect it will be quite some time before anything other than flight redemptions become available
 

jakeseven7

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Which means less money available for the restarting of the operation.

They need to settle the airline first and create confidence in frequent flyers that the airline is here for the long haul to prevent another "run on the bank" scenario. I suspect it will be quite some time before anything other than flight redemptions become available
But Velocity is run as a separate company, P&L in a trust format. There actually should be no issue....
 

Must...Fly!

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But Velocity is run as a separate company, P&L in a trust format. There actually should be no issue....
Which gets contributed to VA when someone redeems a flight. That money can't get there if everyone buys toasters.
 

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