Virgin Australia Financially Secure? [Now in Voluntary Administration]

[Plutonus]

Someone's research is really bad... Virgin Australia enters trading halt pending announcement

Air New Zealand sold their shares in 2016.

Undoubtedly the halt is related to all the rumours in the press about government assistance.

 

[hydrabyss]

Someone's research is really bad... Virgin Australia enters trading halt pending announcement

Air New Zealand sold their shares in 2016.

Undoubtedly the halt is related to all the rumours in the press about government assistance.

I did not want to mention the news channel as their stories are bad enough as it is.

 

[dajop]

I found this

Virgin Australia shares have been placed in a trading halt pending an announcement from Air New Zealand regarding its shareholding on Tuesday.

But Air NZ no longer have a shareholding in Virgin Australia, hasn't for some time since it sold out to the Nanshan Group in 2016.

 

[andrewpf]

I found this

Virgin Australia shares have been placed in a trading halt pending an announcement from Air New Zealand regarding its shareholding on Tuesday.

Ummmm ... are you referring to this article?

Virgin Australia shares enter trading halt pending Air NZ announcement - Australian Aviation

Virgin Australia shares have been placed in a trading halt on the Australian Securities Exchange (ASX) ahead of an announcement from Air New Zealand about its shareholding in the Australian-based carrier.…

australianaviation.com.au

Because its from 30 March 2016

 

[ozstamps]

Standard and Poors rated Virgin Australia shares as Junk Bond status, and rated them CCC minus on weekend.

The Feds seem to have made it very clear there is no lifebuoy being thrown to them. It is a near wholly foreign owned business correct?

Seems like the trading halt is real -

virgin australia trading halt - Google Search

 

[hydrabyss]

But Air NZ no longer have a shareholding in Virgin Australia, hasn't for some time since it sold out to the Nanshan Group in 2016.

Here is the link, not sure if it will work. You will also notice dates issues towards the end.
https://7news.com.au/lifestyle/health-wellbeing/virgin-australia-shares-enter-trading-halt-pending-announcement-c-900717

 

[dajop]

You will also notice dates issues towards the end.

Yes, reference to "Thursday 31 March, 2020". Maybe in a parallel universe the 31 March 2020 is a Thursday? Symptomatic of the race to push out content.

 

[andrewpf]

Standard and Poors rated Virgin Australia shares as Junk Bond status, and rated them CCC minus on weekend.

The Feds seem to have made it very clear there is no lifebuoy being thrown to them. It is a near wholly foreign owned business correct?

Seems like the trading halt is real -

virgin australia trading halt - Google Search

The trading halt is real: https://www.asx.com.au/asxpdf/20200331/pdf/44gk2pqktnndll.pdf

 

[Must...Fly!]

The Feds seem to have made it very clear there is no lifebuoy being thrown to them. It is a near wholly foreign owned business correct?

With the greatest of respect to the author of the article that lead to all that speculation, for mine when reading the comments of the MP I did not take that position. It was clear they wanted to avoid it, but I didn't read it as no way no how, they'll go bust on our watch. Just me, though

 

[Mr Pumblechook]

Yes, reference to "Thursday 31 March, 2020". Maybe in a parallel universe the 31 March 2020 is a Thursday? Symptomatic of the race to push out content.

Although 31 March 2016 was a Thursday and in fact it's specifically mentioned in the AA article from 30 March 2016. It's not the best journalism but I admit I've made the same sort of error once before

 

[Coops1]

I just logged in and it's still there... How many points do you have left?

Your right, button is still there. Unlock big red button was active, but the transfer button was just a bold text “transfer now”, which has the hyperlink.

Have 350k left, will now leave 140k for a 2x HBA-MEL-PER trip in the future. Partner still has a few as well, and flybuys transfer can replenish if they survive. Edit: be ordinary/sad if Virgin survive with full points value and something goes awry with SQ

 

[Rangalad]

The trading halt is real: https://www.asx.com.au/asxpdf/20200331/pdf/44gk2pqktnndll.pdf

VA has issued a ‘Response to Media Reporting’ via the ASX. No ‘new’ news.

 

[Must...Fly!]

Sounds like some public servant leaked it then.

Makes sense as the ASX themselves seemed to have placed the hold on VAH.

 

[Coops1]

Sounds like some public servant leaked it then.

Makes sense as the ASX themselves seemed to have placed the hold on VAH.

VAH created the trading halt themselves.

Edit: and have now lifted the trading halt and up 10% for the day from 8c to 8.8c as at ~12.57pm

Edit: 1.16pm up 25% to 10c.

 

[Must...Fly!]

Alan Joyce demands a "survival of the fittest"

Hope the government give him the middle finger. I've grown exceedingly tired of his ramblings over the years despite being fine with his remuneration and share options etc. He ought to concentrate on managing his own airline, and demanding $4.2 billion from taxpayers will be viewed almost universally by the entire country as pathetic playground behaviour.

If he really wants to go hard at this he'd be better off doing most of it in private. I'm sure his army of lobbyists are doing their bit, why not leave it to them and just manage the airline. The next crisis for both will be the drop in receipts from banks to the frequent flyer programs as consumer and business spending takes a dip.

 

[serfty]

Alan Joyce demands a "survival of the fittest"...

I'm sure three times the bailout amount would make Qantas 'fitter'.

Partial Paywall: Qantas wants $4.2b from government to 'level playing field' if Virgin gets bailout

Qantas wants $4.2 billion if government grants Virgin payout
Qantas has told the Morrison government it expects a $4.2 billion loan to "level the playing field" if it bails out smaller rival Virgin Australia with a $1.4 billion coronavirus rescue package, The Sydney Morning Herald and The Age's Patrick Hatch reports.

 

[p--and--t]

I'm sure three times the bailout amount would make Qantas 'fitter'.

Partial Paywall: Qantas wants $4.2b from government to 'level playing field' if Virgin gets bailout

If you are significantly bigger with far more employees and more at risk and the government covid restrictions are imposed the same way on both companies and if the government is not going to play favourites and not pick winners and losers in companies in the same industry then isn't that a fair ask?

That's a question - not a statement

 

[glasszon]

If you are significantly bigger with far more employees and more at risk and the government covid restrictions are imposed the same way on both companies and if the government is not going to play favourites and not pick winners and losers in companies in the same industry then isn't that a fair ask?

That's a question - not a statement

But Qantas' messaging has been inconsistent, on the one way Qantas said they don't want govt money as it comes with strings attached, on the other hand they now request $4.2 billion from the govt after VA submitted its request.

Your viewpoint is valid, but some would feel Qantas did this just to increase the total bill so VA is less likely to be rescued by the govt.

 

[33kft]

That's a question - not a statement

I suspect you'd get differing opinions on this one depending on which part of the forum you were to ask it.

That said - consider the pub test. What do you think the average punter would have to say? They might find it a bit obnoxious, but if you were to pitch $1.4b to prop up one airline (and consider its ownership) vs $0 for another, would that pass the pub test instead?

It's complex because it's complex

 

[serfty]

If you are significantly bigger with far more employees and more at risk and the government covid restrictions are imposed the same way on both companies and if the government is not going to play favourites and not pick winners and losers in companies in the same industry then isn't that a fair ask?
That's a question - not a statement

Sure, but the "Level Playing Field" does not imply "pro-rata" - so it is incongruous.