The little Leprechaun will have a few tricks up his sleeve, he won't want his cash cow giving up the cream just yet! Virgin however are in BIG trouble! Tigers are clinging by a thread due multiple miss management at all levels, plenty of jobs being cut lose there!Going to be interesting to see now, what the $24M man does to keep the Red Rat out of the reams of red ink, and to keep it solvent.
As with all airlines, they run a fine line between bankruptcy and profitability, and it only takes an upset from out of left field to make them nose-dive.
Some airlines will only survive this crisis with Govt input, or Govt backed debt guarantees.
I trust the $24M man doesn't pack his suitcase, and do a "runner" as the ordure hits the fan, and he cheerfully leaves the problems to someone else. This is fairly typical corporate CEO behaviour.
I wouldn't be surprised to see the big V go under if the crisis continues, they are already in talks with bondholders, who are getting very nervous and ready to bail.
The big V were already in deep red ink long before this crisis, and this is probably all it needs to tip it over the edge.
The airline says it is reviewing all routes as it tries to cut costs and bounce back from a $349 million loss. Aviation analysts take a look at which ones are most likely to be cut back, or chopped altogether.www.abc.net.au
From Virgin Australia to US-based cinema chains and casino operators, the companies most vulnerable to the coronavirus outbreak are facing mounting pressure in global credit markets. An escalating outbreak that…fntalk.com
Interesting times ahead, time to buy more toilet paper!