VAH 2014 results announcement

[samh004]

I for my email yesterday about the sale of VFF and had to laugh. Had to assume it was because of a big loss...

 

[AustraliaPoochie]

QFs Leslie Grant said no sale off of QFF and VA brings it in in lieu!
There she goes, they say no changes to VFF with the sale, but wonder if its true, down the track.

 

[Plutonus]

ABC showed a Virgin 737 yesterday that didn't have winglets. Goes back 10+ years!!

They also had CGI of a 747 Virgin pulling away from the gate instead of a traditional graph...

No wonder they're losing money, got all these 747s just sitting around!

 

[AustraliaPoochie]

Certainly hope the VFF buyer will be happy with their ROI in the 12 months after the sale, and down the track.
In the positive, I hope Velocity Global Wallet can be 1 point per Aud$1 spent in Aust...
In the negative, it could be a worst case scenario of 1 point per Aud$2.50 spent in Aust, as opposed to 1 point per $2 spent in Aust as it is now.

 

[Deleted member 29185]

VIRGIN Australia will move to slash costs by $1 billion over the next three years

Well that's gone and torn it. How does a company slash $1Bil big ones in just 3 years? If that report is true, we'll all be flying ATRs, even C2C. As for the VFF sale............. I predict nothing good for the next umpteen years. I can see why JB is so optimistic about TT.......it'll probably be the only affordable choice left.

 

[amaroo]

Well that's gone and torn it. How does a company slash $1Bil big ones in just 3 years? If that report is true, we'll all be flying ATRs, even C2C. As for the VFF sale............. I predict nothing good for the next umpteen years. I can see why JB is so optimistic about TT.......it'll probably be the only affordable choice left.

Direct quote in todays Oz Cookies must be enabled. | The Australian

Mr Borghetti also revealed that the airline was expanding its cost-cutting target from $400m by 2015 to $1bn by 2017.

He noted that the airline had already accumulated $200m of the productivity gains.

Virgin executives expect the new $1bn target to allow them to maintain a “significant’’ cost *advantage over Qantas, which is predicting a narrowing of the gap.

Mr Borghetti said the cost cuts would not mean job losses but would see gains through initiatives such a joint procurement with partners, the integration of the airline’s New Zealand operations with its international business and better aircraft utilisation.

The airline is bringing forward the delivery of new fuel-efficient Boeing 737 MAX aircraft by a year to 2018 and is retiring two leased older Airbus A330s to reduce the A330 fleet from seven to six.

Mr Borghetti did not provide guidance but said the airline was well placed to capitalise on a market recovery and pointed to longer-term plans to deliver “a sustainable, profitable business’’.

 

[777]

If "cost cutting" means fixing the bloody website so i don't need to call all the time i'm all for it.

 

[Deleted member 29185]

If "cost cutting" means fixing the bloody website so i don't need to call all the time i'm all for it.

Game change plan has been concluded. What you see is what you get. They haven't managed to fix it yet, so what chance is there now that they're slashing $1b out of operational expenditure. Invest in carrier pigeons, I say!

The chance of spirits in the lounge will be just put down to a tad bit of false advertising and Hobart getting a lounge.......?