New All Time Low, page-68

Which is ironic that you don't hold..

Don't worry, not having a go at you. The irony is that many pilots wouldn't touch airline shares at the best of times!!

I fit the above category too.

JB did as what you said, but he did it at any cost. The leases on the A330 and ATR72s are horrendous. VAH still haven't cleaned the mess up from that.

Buying VARA at the peak of the resources boom. Never should have bought SkyWest.

JB was great domestically, internationally he didn't have a clue. He was basically Captain Ahab after his whale after getting beaten by Joyce at QF. VAH are paying for it now.

Scurrah is going to need all the luck he can get. I'd expect another announcement on deferral of the MAX deliveries to push out capital expenditure. I expect there will be more redundancies at VA, and not just in the head office, but out on the front line.

Shareholder support is very uncertain, but that's a large amount of money to write off. (Singapore, Etihad, HNA and Qingdao).
Branson doesn't have much interest and wouldn't bail out VAH. It's uncertain what will happen with HNAs holding as the Chinese government has effectively taken control and started selling off their assets.


Buying back Velocity will help diversify income streams. Just this morning I saw they're offering 20% off purchase of Velocity points. Velocity will at least bring cash when an airline isn't flying, as long as consumer confidence remains in your ability to remain solvent.

S&P expect that to happen. As they said, sources of liquidity are 1.2x current requirements, even after a drop of 30% of EBITA...