Just read where Virgin A has to disclose its financial perfomance by JAN 30(YESTERDAY). Anyone seen their financial performance numbers, just curious if they can make money in this market, because everyone else lost last yr except SW.
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Virgin America discloser?
- Thread starter bluefin
- Start date
http://www.regulations.gov/fdmspubli...0000648083eeda
This consent order concerns reporting delinquencies by Virgin America Inc. (Virgin America) that constitute violations of 49 U.S.C. § 41708 and the accounting and reporting requirements specified in 14 CFR Part 241. This order directs Virgin America to cease and desist from future violations of this statute and this regulatory provision, and assesses the carrier a compromise civil penalty of $40,000. the DOT
This consent order concerns reporting delinquencies by Virgin America Inc. (Virgin America) that constitute violations of 49 U.S.C. § 41708 and the accounting and reporting requirements specified in 14 CFR Part 241. This order directs Virgin America to cease and desist from future violations of this statute and this regulatory provision, and assesses the carrier a compromise civil penalty of $40,000. the DOT
Fly4hire
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Feb 3rd 1000 EST. Expect Ch11 or 7 within weeks...
Paul R. Smith
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From an Alpa blastmail...You don't need to read the whole thing. I thought the 30th was the date as well.
"On January 28, the DOT denied Virgin America’s petition to withhold its Form 41 filings from public disclosure. Although lower-level staff had rejected VA’s request for confidential treatment back in June 2008, the airline had appealed that decision to higher-level staff, and the Department’s failure to act on that request allowed VA to keep its filings out of the public eye. A number of airlines, including Alaska, Delta, and United had protested the Department’s inaction and had pointed out that DOT was giving VA an unwarranted competitive advantage by allowing it to keep its performance information confidential while requiring the public disclosure of theirs. Under DOT’s ruling, VA’s information should be released on January 30."
The question I have is why everyone thinks that VA is going to go bankrupt so quickly? do they lack creditors? Certainly their costs are low considcering they lack any sort of legacy cost and their compensation is comparatively low(er). I'm not trying to be a jerk by saying that. I just don't smell fire from VA. Disagree by all means...I might learn something.
I don't work for VA BTW.
"On January 28, the DOT denied Virgin America’s petition to withhold its Form 41 filings from public disclosure. Although lower-level staff had rejected VA’s request for confidential treatment back in June 2008, the airline had appealed that decision to higher-level staff, and the Department’s failure to act on that request allowed VA to keep its filings out of the public eye. A number of airlines, including Alaska, Delta, and United had protested the Department’s inaction and had pointed out that DOT was giving VA an unwarranted competitive advantage by allowing it to keep its performance information confidential while requiring the public disclosure of theirs. Under DOT’s ruling, VA’s information should be released on January 30."
The question I have is why everyone thinks that VA is going to go bankrupt so quickly? do they lack creditors? Certainly their costs are low considcering they lack any sort of legacy cost and their compensation is comparatively low(er). I'm not trying to be a jerk by saying that. I just don't smell fire from VA. Disagree by all means...I might learn something.
I don't work for VA BTW.
ImbracableCrunk
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Zing!
What exciting info are we likely to find out? That they really are foreign owned and must cease operations.
ImbracableCrunk
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Zing!
What exciting info are we likely to find out? That they really are foreign owned and must cease operations?
Fly4hire
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That they are digging a deep red hole and are short on cash. Additional investment sources will dry up, and credit card agreements may not float them on ticket sales. Speculation on my part, but I think it will be like when you are late on your CC payments and all your other creditors raise their rates, cut off credit, and demand cash payments. It will unravel quickly IMO.
JumpersAway
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Another crap outfit bites the dust- can't wait.
Because you got yours?
Not only does VA have to have financing like every other airline, but their financing must specifically be American. 51% American in fact. There is talk of their current financiers are considering pulling their cash.
That's bad because they need the money but it's worse in that they will now be in violation of foreign ownership laws which would presumably shut them down.
Frankly, they're not good for the industry or the profession. I'm not wishing them out of business but it won't break my heart to see them go away.
That's bad because they need the money but it's worse in that they will now be in violation of foreign ownership laws which would presumably shut them down.
Frankly, they're not good for the industry or the profession. I'm not wishing them out of business but it won't break my heart to see them go away.
Fly4hire
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I am. The surviving airlines would re-gain market share and revenue, possibly expand and hire again, making the feeders and smaller carriers what they started out as - a stepping stone to a major airline job, while making a major airline job worth aspiring to again.
No, because they suck.
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This message is hidden because clippyrip is on your *********************************** list.
Better than kool aid.
Hey spinproof. Come out from under that rock and tell us all how wonderful VA is to work for.
Better than kool aid.
Hey spinproof. Come out from under that rock and tell us all how wonderful VA is to work for.
Scope out RJ's This message is hidden because Scope out RJ's is on your ignore list.
Sweeter than yoohoo!
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This message is hidden because clippyrip is on your *********************************** list.
Better than kool aid.
I'm sure this moron had something stupid as usual to say. Must be the lack of sunlight!:laugh:
Better than kool aid.
I'm sure this moron had something stupid as usual to say. Must be the lack of sunlight!:laugh:
clickclickboom
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Wow you guys are brutal.. I start a post with some factual info and a rumor i heard and these va guys are going bonkers yet they are no in this thread...
regionaltard
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Because we're tired of hearing "Ooooo, we can't compete unless you pilots are willing to work for peanuts too!" Really, they can't go the way of Skybus soon enough.
