I feel sorry for the investors that stand to lost their shirt on this one. If you bought shares when they were trading at .15c as recently as 10th Feb, they were trading at half that just a month later. I did make money out of my VAH shares as I got out of all my holdings at 9c. Though QAN plummeted as well...on 10th Feb QAN was around $6.40, 30 days later $4.45, another week and QAN was around $2.20...but at least they may recover.
To see Virgin go is a shame, to see thousands of people lose their jobs is a far bigger shame. When Ansett went under, thanks imo to Air NZ, same thing happened and many people lost everything as they were too old to be re employed elsewhere. Fortunately I think a greater number of Virgin employees are younger than the ex Ansett employees back then.
The pre paid tickets will be lost no doubt which will hurt a lot of people, along with those with velocity points. I cannot believe my luck on that one, my far better half and I used up our Velocity points on a trip to Tasmania in early March just prior to the lockdowns.
Borghetti imo was the beginning of the end for Virgin as he tried to take on Qantas on their own turf, he should have stayed with Jetstar. Scurrah was the sacrificial lamb, too little too late...
VAH Price at posting:
8.6¢ Sentiment: None Disclosure: Not Held
