Virgin Australia to be sold to Bain Capital

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jakeseven7

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This was a post from Jayne on their internal social network.

Might explain a few things.... a couple of prominent people we deal with have evaporated....

Sorry for the poor employees there, its really an awful time for everyone in aviation, but especially Virgin with all of this ongoing restructuring, knifes hovering over your head still.... Stressful.
 

HS-TQE

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Is there a source?

It's hardly surprising and there was no guarantee of further cuts. (Also with Jetstar moving B787 fleet into long term storage paints the current bleak picture as they could have been used domestically.)

Unfortunately I can't see at least half of JQ's 788 fleet returning to JQ service. At most some of the 788s 'might' be refurbished for QF service (but not adding the Crew Rest), so that QF could use the 788s for some PER-SYD/MEL TransCons alongside flying them for Medium-Haul Asia and New Zealand (e.g MNL, CGK, PER-SIN)
 

HS-TQE

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What about the promises to Qld government re jobs when the government invested the $$?
If I recall the 'promise' was to 'save as much jobs' as possible, which ofc many thought it was ballony considering it was made during the height of the pandemic.
 

jakeseven7

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Well this might explain partially why the latest round of job cuts....

Due to state border closures, Bain/VA2 was only able to get to 40% capacity (QF got to 60%)....

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Virgin Australia's January domestic capacity misses forecast due to state travel curbs​

Virgin Australia said on Wednesday it was operating at 40% of its pre-pandemic domestic capacity in January, missing a forecast of 60% due to state-based travel restrictions that are hampering an aviation market recovery.

Australia recorded a 10th straight day of no new local COVID-19 cases on Wednesday, but many states have left some travel restrictions in place following an outbreak in Sydney last month.

 

Bundy Bear

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Jobkeeper runs out end of March and I am sure there will be extensions for certain industries but Bain will probably know what staff they need and so will be letting go the extras.
 

RAM

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I am not sure that I am quite so keen on being inundated with new VFF points earning emails every few days announcing new partners/opportunites when there's really very little opportunity to use existing points balances for worthwhile (>0.5 cent) redemptions.

The Air Canada announcement being the one exception.

Why not a positive (hopefully it could be) announcement that other discussions are underway to expand international airline earn & burn agreements once CV is more manageable?

Perhaps some information about how many reward seats will be available once operations finally (eventually) return to the new post-CV normal?

The results so far see me diverting 90+% of spending away from VFF earning cards/stores.
 
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jakeseven7

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Personally I'd just prefer Bain/VA2 to just focus more on maintaining a workable schedule.... but I know its going to be a hard slog for them.
 

jakeseven7

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I am not sure that I am quite so keen on being inundated with new VFF points earning emails every few days announcing new partners/opportunites when there's really very little opportunity to use existing points balances for worthwhile (>0.5 cent) redemptions.

Ok, now I know what you are talking about, I have had 3 emails from VFF today alone.... mostly on rats and mice people joining the program....
 

dajop

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Personally I'd just prefer Bain/VA2 to just focus more on maintaining a workable schedule.... but I know its going to be a hard slog for them.

Is it a matter of "they would if they could" ? Depending on what Ms P and Mr's A,G M,& McG have to say.
 

RAM

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Ok, now I know what you are talking about, I have had 3 emails from VFF today alone.... mostly on rats and mice people joining the program....
As we joined VFF right at the start - perhaps that's why we get the delight of seeing the emails (often sent pre-6am) early.

Looks like Bain might be montioring social media a little more closely.

Late this afternoon I received another email, & this one referred to the future for international partners.

The way it was worded looks like it was a last minute add-on to what was otherwise quite a well constructed email, or just a coincidence. ;)
 

Bagpuss

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Virgin is making another 350 staff redundant in head office and ground based roles.
From the media sources it sounds like these aren't additional and part of the original forecast, though they didnt pull the trigger.
The vast majority already on stand down.

What is more interesting is some commentary of reviewing the new Brisbane Head Office with a possible relocation which sounds like further downsizing and/or cheaper rent.

(Paywalled) https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=newssearch&cd=&cad=rja&uact=8&ved=0ahUKEwjX_LWD97_uAhXqyzgGHZnLC0gQxfQBCDIwAA&url=https://www.couriermail.com.au/business/prime-site/virgin-australia-is-scanning-candidates-for-its-potential-new-brisbane-headquarters/news-story/0f972f42268c974d028f8da94f1de16b&usg=AOvVaw1_HryOUCLajL2Gf21UgT11
 

ANstar

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Might explain a few things.... a couple of prominent people we deal with have evaporated....

Sorry for the poor employees there, its really an awful time for everyone in aviation, but especially Virgin with all of this ongoing restructuring, knifes hovering over your head still.... Stressful.
Not a great time to be in the industry. I wouldn't be surprised if QF announce more redundancies at their half year results.
 

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