Virgin America down to 22 million in unrestricted cash

[Ralph Cramden]

And I love how a thread bashing VA stays on the major's board since April.

However, let anyone ask for interview info or say anything positive and Bill jumps in saying this should be off the major's board pronto.

Happy New Year Bill. Your lack of consistency is showing.

 

[NEDude]

Sorry to disappoint you all, but Richard Branson does not own Virgin America. He is an investor, and owns the brand, but is not the "owner", or even a majority shareholder. The multiple investigations by the DOT and lawsuits filed other airlines have pretty well cleared that up. If a handful of Branson's other companies are struggling, that does not mean it is tied to Virgin America. I mean what on earth does the failure of a soft drink company in Europe have to do with an airline in the USA other than sharing a logo?

As for making money, last financial report available shows Virgin America made money in the 3rd quarter, in fact significantly more money than the "experts" predicted they would make. The predictions were at best small operating profit but an overall net loss. The results were a significant operating profit (for an airline with 28 aircraft at the time) and an overall net profit as well.

Virgin increased its cash position in the third quarter and has over $100 million in total liquidity.

The original business plan did not call for a profitable quarter until over 40 aircraft were on property, the company beat that.

I have been around several failing airlines and I can tell you with absolute certainty that failing companies do not announce orders for new aircraft, announce new cities, ramp up hiring, expand headquarters, and sign contracts on new training facilities. Virgin America has done all of these in the past six months. Failing companies start pulling out of cities, deferring deliveries, postponing classes, consolidating office space, and cutting corners wherever possible. Those are clearly not the actions of Virgin America.

As for the mood of the investors, how many of you have had conversations with the Virgin America investors lately? They are a privately held company and I would wager very few, if anyone at all, on this board even know the names of the major investors, let alone know them well enough to have conversations about their feelings on their investment in the company.

 

[Dan Roman]

Sorry to disappoint you all, but Richard Branson does not own Virgin America. He is an investor, and owns the brand, but is not the "owner", or even a majority shareholder. The multiple investigations by the DOT and lawsuits filed other airlines have pretty well cleared that up. If a handful of Branson's other companies are struggling, that does not mean it is tied to Virgin America. I mean what on earth does the failure of a soft drink company in Europe have to do with an airline in the USA other than sharing a logo?

As for making money, last financial report available shows Virgin America made money in the 3rd quarter, in fact significantly more money than the "experts" predicted they would make. The predictions were at best small operating profit but an overall net loss. The results were a significant operating profit (for an airline with 28 aircraft at the time) and an overall net profit as well.

Virgin increased its cash position in the third quarter and has over $100 million in total liquidity.

The original business plan did not call for a profitable quarter until over 40 aircraft were on property, the company beat that.

I have been around several failing airlines and I can tell you with absolute certainty that failing companies do not announce orders for new aircraft, announce new cities, ramp up hiring, expand headquarters, and sign contracts on new training facilities. Virgin America has done all of these in the past six months. Failing companies start pulling out of cities, deferring deliveries, postponing classes, consolidating office space, and cutting corners wherever possible. Those are clearly not the actions of Virgin America.

As for the mood of the investors, how many of you have had conversations with the Virgin America investors lately? They are a privately held company and I would wager very few, if anyone at all, on this board even know the names of the major investors, let alone know them well enough to have conversations about their feelings on their investment in the company.

Well said.

 

[Grandpa +65]

"I have been around several failing airlines and I can tell you with absolute certainty that failing companies do not announce orders for new aircraft, announce new cities, ramp up hiring, expand headquarters, and sign contracts on new training facilities. Virgin America has done all of these in the past six months."

Skybus does too
http://www.ahoycargo.com/airline-ne...kybus-airlines-on-new-airbus-a319-orders.html


Skybus Announces Richmond-Columbus Service Starting May 23 - News ...


Skybus Announces Richmond-Columbus Service Starting May 23, 2007 ... Richmonders will soon have a nonstop option aboard new 150-seat aircraft ... Skybus has agreements in place to acquire more than 70 aircraft over the next five years. ...

 

[Gear Down]

I have been around several failing airlines and I can tell you with absolute certainty that failing companies do not announce orders for new aircraft, announce new cities, ramp up hiring, expand headquarters, and sign contracts on new training facilities. Virgin America has done all of these in the past six months. Failing companies start pulling out of cities, deferring deliveries, postponing classes, consolidating office space, and cutting corners wherever possible. Those are clearly not the actions of Virgin America.

No one is ever safe. A more recent company-Mexicana Click Airlines. Read up. They went bankrupt after leasing 717's (ex-Midwest) from Boeing and had big growth plans. All gone within a year. And there was a promising new marketing/business plan of Skybus, the established spin off Independence, Valuejet, Vanguard, Air South, and so on and so on with big plans......and should oil rise as expected, customers will reduce their travel. And don't forget about the many Chapter 11's. No company is safe no matter how much management sugar coats the employees.

.

 

[BILL LUMBERG]

And I love how a thread bashing VA stays on the major's board since April.

However, let anyone ask for interview info or say anything positive and Bill jumps in saying this should be off the major's board pronto.

Happy New Year Bill. Your lack of consistency is showing.

And the most off-topic post to date belongs to RALPH.....WTF?

pssst. Ralph.....hate to tell ya, you aren't a major yet....no matter what Sir Richard says!

 

[hyflyin]

"I have been around several failing airlines and I can tell you with absolute certainty that failing companies do not announce orders for new aircraft, announce new cities, ramp up hiring, expand headquarters, and sign contracts on new training facilities. Virgin America has done all of these in the past six months."

Skybus does too
http://www.ahoycargo.com/airline-ne...kybus-airlines-on-new-airbus-a319-orders.html


Skybus Announces Richmond-Columbus Service Starting May 23 - News ...


Skybus Announces Richmond-Columbus Service Starting May 23, 2007 ... Richmonders will soon have a nonstop option aboard new 150-seat aircraft ... Skybus has agreements in place to acquire more than 70 aircraft over the next five years. ...

Interesting G. They're gone and we are still here, after/during a major recession, taking our orders and firming up more. So to understand your logic, once an airline starts ordering more airplanes, it means they are going out business?? Got it thanks.

I would try a different business school there chief....

I won't pretend to know all about every airline in this industry, unlike most of the hacks on this site, but I do know what's going on at my airline. Will it survive, I don't know, I'm just a pilot, I don't know all their plans.

I'm guessing all the know-it-all's on FI made millions on the recent SWA announcement to merge with AAI?? Then again, probably not.

Good luck in your fantasies and Happy New Year.

 

[Fubijaakr]

Failing companies start pulling out of cities...

How's that SNA service going?

 

[pilotpm]

hate to tell ya, you aren't a major yet

"Yet" is the opperative word in your statment. I'm glad that you agree that we soon will be.

 

[xjhawk]

Sorry to disappoint you all, but Richard Branson does not own Virgin America. He is an investor, and owns the brand, but is not the "owner", or even a majority shareholder. The multiple investigations by the DOT and lawsuits filed other airlines have pretty well cleared that up. If a handful of Branson's other companies are struggling, that does not mean it is tied to Virgin America. I mean what on earth does the failure of a soft drink company in Europe have to do with an airline in the USA other than sharing a logo?

As for making money, last financial report available shows Virgin America made money in the 3rd quarter, in fact significantly more money than the "experts" predicted they would make. The predictions were at best small operating profit but an overall net loss. The results were a significant operating profit (for an airline with 28 aircraft at the time) and an overall net profit as well.

Virgin increased its cash position in the third quarter and has over $100 million in total liquidity.

The original business plan did not call for a profitable quarter until over 40 aircraft were on property, the company beat that.

I have been around several failing airlines and I can tell you with absolute certainty that failing companies do not announce orders for new aircraft, announce new cities, ramp up hiring, expand headquarters, and sign contracts on new training facilities. Virgin America has done all of these in the past six months. Failing companies start pulling out of cities, deferring deliveries, postponing classes, consolidating office space, and cutting corners wherever possible. Those are clearly not the actions of Virgin America.

As for the mood of the investors, how many of you have had conversations with the Virgin America investors lately? They are a privately held company and I would wager very few, if anyone at all, on this board even know the names of the major investors, let alone know them well enough to have conversations about their feelings on their investment in the company.

Now if only I could get an interview