Virgin America QOL

[azcz10]

VA Hiring

I live in ATL. What are the chances of getting JFK? What is your quality of life on reserve? (days off, long call, etc) How long on reserve? Days off with your first line.....all that kind of stuff.

Thanks a bunch!

 

[bri5150]

I live in ATL. What are the chances of getting JFK? What is your quality of life on reserve? (days off, long call, etc) How long on reserve? Days off with your first line.....all that kind of stuff.

Thanks a bunch!

JFK is junior right now. I know for fact there is a new hire there that lives in LA but was forced out there. 12 days off on reserve, long call is available and is 14 hours. New rules don't allow scheduling to use you past your reserve period on your last day without paying you. The start late on your first day and end early on your last is going away unfortunately because of 117. To me that was the biggest good thing about reserve here. Everyone hates reserve everywhere, but there seems to be a stigma of special suckiness here. I have been on reserve for a year and haven't had a huge problem with it. Reserve sucks...period. How long on reserve? No way we can predict that. As of right this second, about a year, but a year ago the predictions were I would be on reserve for three years (and I will hopefully be off real soon), so who knows. Days off with first line have traditionally been 16 or 17, but FAR 117 may mess stuff up.

Despite better financial news recently, morale is low. I am one that makes up my own mind on how I think we are treated and how I think this company is run. I have personally not seen much to complain about. Rumor has it we will see what our compensation package will look like for the next three years this month. That will be very telling of where management thinks we "should be at". A lot of things will be telling in the next six months about the direction of this company and what it will be like working here going forward.

 

[Andy]

So I just want to make sure...it is okay for the majors to go through bankruptcy, gut their contracts, take state governments for all they can, then post monster profits (then take state and federal governments for more)...but VX moves some money around so our finances are more in line with a public company and it's lipstick on a pig?

I honestly have no idea about the maintenance cost. I am sure what you have been insinuating is true...it must be illegal accounting :beer:.

VX didn't 'move some money around'. VX received ~$400 million in new money/loan conversion in a corporate restructuring (most would call it an out of court bankruptcy). For a company of VX's size, $400 million is a HUGE amount of money; 2Q2013 revenues were $376 million.

Maintenance costs are clearly listed on 2Q2013's financial results press release. http://www.virginamerica.com/press-...ts-second-quarter-2013-financial-results.html

I find it incredulous that you would be doing a victory dance so soon after the massive amount of money poured into VX to keep it alive.

 

[bri5150]

VX didn't 'move some money around'. VX received ~$400 million in new money/loan conversion in a corporate restructuring (most would call it an out of court bankruptcy). For a company of VX's size, $400 million is a HUGE amount of money; 2Q2013 revenues were $376 million.

Maintenance costs are clearly listed on 2Q2013's financial results press release. http://www.virginamerica.com/press-...ts-second-quarter-2013-financial-results.html

I find it incredulous that you would be doing a victory dance so soon after the massive amount of money poured into VX to keep it alive.

I wouldn't call it a victory dance. It is just interesting to see people's opinions from a year ago and how things have ended up this year. As my quote shows, I was a bit skeptical as well.

The question still remains, how is our restructuring worse than any other carrier that goes through bankruptcy. At least they didn't gut our rules (in fact we got a raise) and screw anyone but themselves out of money. Again, you obviously know more about finance than me, so I just make crap up based on logic. Is it possible this was the plan all along? Invest in a company, charge a crap ton on interest while writing off loss, then convert it the way they did, IPO and get your original money back? Of course it is risky, but could that be a way to make some money? Everyone I have ever talked to here (pilotwise) has said there is more than meets the eye here.

Lastly, I am sorry I can't answer your maintenance question. I wish I could. Was there a big aircraft update 2q last year? Maybe there was a fleetwide issue? Was it something to do with the Sabre transition? I wasn't here. I don't know the answer.

 

[NEDude]

Despite what Andy has to say there are two simple and indisputable facts - Virgin America is still here and Virgin America reported a net profit in Q2.

This place has been going out of business since I started nearly four years ago. In fact just before I interviewed I read a mock epitaph for Virgin America. Regardless of how things turned around - I have heard the phrase 'private bankruptcy' used by many both inside and outside the company - the fact is we have reported a net quarterly profit. Management assured us in the last 'All-Hands' meeting just a few weeks ago that Q3 will show profit as well. I am not going to name the numbers presented, but the ones presented mean an annual net profit is very much in the cards. Of course the operational effects of the Nov 1 shooting in LAX may affect that. In short though we have made it through some very dark times and we appear to have turned the corner and have started to become a profitable and viable company.

My own opinion is that VX is not going to be the airline that was presented to me when I got hired. The plan/goal was to be at 100-120 airplanes by 2016. We have ten airplanes coming in 2015-16 and then another four year gap for deliveries. The company has made no secret of its desire to get rid of the ten A319s and Cush has said he will get rid of them as soon as he can (but that it is a few years off). As things stand today I can very well see there being zero growth for another six to seven years. All bets are off after an IPO. But for now anyone coming to VX needs to look at where we are and where we are going. If I recall correctly Frontier sat at about 50 airplanes for close to a decade. We are looking at that as a strong possibility as well.

PS- I also still have serious doubts about our remaining independent long term. I still think a merger/buyout is in the cards.

 

[Flyer1015]

VX didn't 'move some money around'. VX received ~$400 million in new money/loan conversion in a corporate restructuring (most would call it an out of court bankruptcy). For a company of VX's size, $400 million is a HUGE amount of money; 2Q2013 revenues were $376 million.

Maintenance costs are clearly listed on 2Q2013's financial results press release. http://www.virginamerica.com/press-...ts-second-quarter-2013-financial-results.html

I find it incredulous that you would be doing a victory dance so soon after the massive amount of money poured into VX to keep it alive.

The conversion is a simply adjustment of how the investors -the debt holders- get paid. VX pays their interest expense on the loans as best they can every quarter and the investors have made money on that. Converting their debt into equity stock will have them score once on the company IPOs. Or they could have had that approx. 300 million in loan amount and accrued interest payments on that debt. Now that money doesn't have to have interest paid on it but the 'loss' will be the payout to these investors after IPO. But then again that is the point of the IPO and everyone scores when they hold shares for a company. The real liquidity was $75 million. Andy that's where you can get your pants in a wad because that was a pure addition. I give you some credit, you did say VX would "need" $100 million before 2013 was over and it seems we got 75 million. Not bad. VX had several instances where there was an operational profit but the massive interest payment would end up in a net loss. Now with the restructuring of the company to be more in line with how a public company is, things look a lot better. Great news was the net positive cash flow generated during the second quarter. 3rd quarter results should be out soon and I have a feeling they will meet or exceed 2nd quarter numbers.

 

[NEDude]

$33.5 million net profit in Q3.

 

[rfa]

Hi all, quick question:

What is training pay like?

 

[bri5150]

I believe it was $2500 a month. They get you in and out in a month and a half...first day until LOFT.

 

[rfa]

^ Cheers! Thanks a bunch.

 

[bri5150]

VX didn't 'move some money around'. VX received ~$400 million in new money/loan conversion in a corporate restructuring (most would call it an out of court bankruptcy). For a company of VX's size, $400 million is a HUGE amount of money; 2Q2013 revenues were $376 million.

Maintenance costs are clearly listed on 2Q2013's financial results press release. http://www.virginamerica.com/press-...ts-second-quarter-2013-financial-results.html

I find it incredulous that you would be doing a victory dance so soon after the massive amount of money poured into VX to keep it alive.

I actually think I remember something as to one reason why maintenance costs may have went down. I believe we used to have a tech meet the aircraft after every arrival no matter what station. I think they cut back having a tech at all the outstations, so they just have contract maintenance when needed...I think. I am sure there is other stuff as well. As you can tell by my wording, I am not certain about any of what I wrote. Maybe someone else can chime in...if they care.

 

[AEROSQUADRON69]

Any latest and greatest about what is happening at VA? Thanks.

 

[Ralph Cramden]

Refresh starts in February. Yippe!

To answer your question we are hearing that H is dusting off the hiring machine. Guys are getting the call to interview, but there still remains quite a few in to pool waiting on class dates.

 

[Flyby1206]

Refresh starts in February. Yippe!

To answer your question we are hearing that H is dusting off the hiring machine. Guys are getting the call to interview, but there still remains quite a few in to pool waiting on class dates.

Did you guys get a pay review for the next 3 years as someone mentioned up thread? Just curious how the rates are looking.

 

[bri5150]

Board won't commit to three years right now...at least that is the word. We were suppose to find out about this years raise on Jan 23rd. It sounds like it is delayed a week to "make additional changes". Most feel like this raise won't be much. We'll see in a week or so.