Virgin back in the black, ‘as profitable as QF’

cambriamarsh

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AJ must be thinking how he parachutes out of QF and maybe this is the answer. Richard Goyder must also be thinking along similar lines.
SMH has a story AJ is there until at least the end of 2023 and could be there longer. That would make it 15 years plus, a long time in public company circles
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Slightly OT but AJ is going nowhere and plenty within believe he has another 3-4 years in him
Beat me to it
 

SYD

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Good on them. So far a better outcome than the AN collapse!

As for this….
Virgin Australia could make IPO as early as next year: Jayne Hrdlicka says”

It reminds of the quote:

“If you want to be a Millionaire, start with a billion dollars and launch a new airline.” Richard Branson
 

HS-TQE

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Chances of 'Mum & Dad' shareholders getting involved in Bain's Virgin 2.0 partial float would be very minimal if not close to zero.

I would be guessing UA would be the leading contender for the minor stake from the partial float next year, perhaps followed by either QR or slim chance of 'investment banks'.
 
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As an aside, he (AJ) can live in Aust for ever, he is married to an Aust, so would be able to claim PR/and go for Aust citizenship, if he hasn't already got Aust PR status/Aust citizenship.
So even *IF* he leaves QF, he would probably still be involved with other companies in a board position, who knows he might step down off the CEOship but stay on the board.
As with JH, she has been involved with JQ...
Not that I have checked out if these 2 CEO have residency rights.
Edit:
SMH does say that AJ is "strapped in for the long haul", so it might be to 2025 when we get the A350s.
 
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clifford

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I would be guessing UA would be the leading contender for the minor stake from the partial float next year, perhaps followed by either QR or slim chance of 'investment banks'.
I don't believe that UA would be in the slightest bit interested. They don't need to be and it's not their core business. Won't happen.
 

HS-TQE

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Although, in the end, we can't say never never.

True. Long time enemies such as QF/CX and SQ/UA for example can eventually become the best of 'buddies' with codeshare/FF/maintenance contracts/etc over the time.

REX and UA were also interline buddies for a few years alongside VB not along after AN liquidated. Back then UA MP could redeem on VB on selected flights to other capitals + OOL/CNS but the other way wasn't available.

Who would have thought that a major airline in OW would ever begin an agreement with VA.
Meaning QR.
VA 1.0 did have a codeshare/FF deal with AB, also a Oneworld member prior to liquidation, and a fellow EY equity airline under James Hogan.
 
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SCM

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Since Qantas is literally losing money right now (both month and quarter), I'm not too sure why anyone would be bragging to be at least that profitable.
 

ozstamps

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AJ will stay, only as long as he makes money for shareholders.

And he is not.

What Qantas staff and the SMH thanks on his tenure length is irrelevant. CEOs are there to produce profits. He cannot even organise staff to answer phone calls after a year of complaints about how bad it is. The new wave of cancelled flights will not assist the bad vibe.

The past year has produced more bad PR for Qantas than the past 20.


I was Broome this week, and Qantas have totally cancelled 3 evening fights with no notice this month. Front page news there. Left passengers to find accommodation in THE dearest hotel market in the country. The Community there rallied to provide assistance with spare rooms etc, and a terrible look for an airline.

'Writer and commentator Phillip Adams has demanded the boss of Qantas remove the national airline’s ‘Spirit of Australia’ tagline from all branding immediately, as multiple crises engulf the company.

The 82-year-old, who had been appointed an officer of the Order of Australia and received six honorary doctorates from Australian universities, made his mark during an illustrious career in film production and advertising, during which time he says he came up with the iconic tagline.

An incensed Adams made the demand on Thursday, addressing Qantas CEO Alan Joyce directly on Twitter:


“I’m the author of ‘the spirit of Australia’,” Adams wrote. “Then deserved, now tragically inappropriate.”

“My slogan is hereby vetoed. Please remove it from all fuselages, tickets and advertising.”


It comes amid a torrid time for the national airline, with the public relations crises stacking up like lost luggage in the wrong terminal.

Qantas cancelled a staggering one in every 13 flights in May as it battled reliability issues. This morning the airline confirmed it was slashing domestic flight schedules by up to 15% through to September, and 10% to March next year.

This week Qantas also apologised to a grieving passenger who was left waiting for bag containing her mother’s ashes for more than four days after flying Heathrow Airport to Sydney, after a hefty social media pile-on.'


In large corporations, the buck stops at the top. Joyce is several years past his "Best By' date. Dead man walking right now.
 
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Saab34

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In large corporations, the buck stops at the top. Joyce is several years past his "Best By' date. Dead man walking right now.
History has well and truly proved that most Board’s have no clue and no control.

The chairman of QF is a retailer. Has no experience with airlines. Wouldn’t know what to do if Alan went missing tomorrow. Promote one of Alan’s own who operate no different.

The joint certainly needs a a culture shift. From what I was told the employees are sick and tired about being talked in the media, especially around pay. Just get on with it.
 

SCM

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What are the odds he actually gets removed by the board though? I guess the reputational damage would have to translate through to the bottom line first.
 

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