Virgin America down to 22 million in unrestricted cash

[AA717driver]

Word from a friend on the inside is that their Flt. Ops. management is a disaster--Amateur Hour.

More politics than happy hour in D.C.

People with high flight time and anything bigger than an RJ on the resume need not apply.

TC

ETA: I'll be the first on to admit that I had high hopes for this company. They had a great concept and got exactly the wrong people for the job from the get go.

 

[jonjuan]

Virgin, or any airline who gives away seats, is a cancer to this industry. It it is corporate irresponsibility that has wrecked our profession and left the industry drowning in debt. Nothing against Virgin pilots but their demise would be beneficial to the overall industry. Their model is simply not sustainable and the dumping of capacity on to the marketplace serves to undermine the long-term viability of our business.

So any airline that "gives away seats" is a "cancer to the industry?" If so, EVERY airline is culpable.
http://www.jetblue.com/UBF/flights/flights.asp

Jetblue is constantly giving away seats for nada, therefore they are a "cancer to the industry."
http://travel.southwest.com/specialoffers/topOffers.html?int=GNAVSPCLOFFR

Check out the deals from WN.

Checking out a Virgin flight, I see a NYC-LAX-NYC RT next Mon-Fri in F going for $2,850 RT. It appears that they are selling most of their F seats into the major business markets and getting premium fares.
To add to your comment, the demise of a number of airlines would be beneficial to the overall industry. Heck, if there were one airline, they could have a pricing premium. The question is, which airline/s should decide to close up shop to benefit the others?

 

[jonjuan]

ETA: I'll be the first on to admit that I had high hopes for this company. They had a great concept and got exactly the wrong people for the job from the get go.

They'll be around the block a bit longer than you will, FWIW.

 

[waveflyer]

Virgin, or any airline who gives away seats, is a cancer to this industry. It it is corporate irresponsibility that has wrecked our profession and left the industry drowning in debt. Nothing against Virgin pilots but their demise would be beneficial to the overall industry. Their model is simply not sustainable and the dumping of capacity on to the marketplace serves to undermine the long-term viability of our business.

Not commenting on your political beliefs bc I have no idea. But this post's sentiment is widely held in our industry. A good majority of pilots are also conservative so called capitalists.

Pilots are walking contradictions. Competition is great, for everyone else...

That said- I have heard that VA flt ops has devolved from not a very high place

 

[comrcap]

I believe they have Salvagio over there. He was useless at Comair and was the designer of Delta's failed Song. Great leadership!

 

[jayme]

Never heard of Sylvagio. What is he supposed to be doing for us?

 

[NEDude]

http://industry.bnet.com/travel/100...ings-still-losing-money-but-less-than-before/

This blogger/reporter (clearly the lines are blurred these days) mentions that VA now has a 107 million dollar line of credit available on five days notice and ends the article with the following quote:

"Not a great quarter for the airline, but it was certainly better than last year. That breathing room in terms of cash position must be nice, and with industry revenue trends looking up, it could end up being a much better year for Virgin America in 2010."

Clearly this guy thinks things are looking up, not down for VA.

Also VA is not acting like an airline that is desperate - two new destinations confirmed, three more to be announced by the end of the year, six new airplanes the remainder of this year and one per month next year.

Too bad many on this board gleefully wish for the demise of a new carrier that provides a high quality product, while at the same time accepting the growth of regional carriers that take take away the entry level narrow body jobs at the majors and pay significantly less than VA. Republic, Mesa, Skywest, Comair, Expressjet and the entire lot of them have done far more damage to pay and career advancement in this profession than VA could ever have. And they all did it long before VA took to the skies. Yet they all get a near free pass on this board. Well except for Mesa.

PS- According to the San Francisco Business Times, total liquidity in the present quarter is now $129 million (22 cash - 107 credit) compared to $57.6 million in the previous quarter. So even better news. Looks like we will be around a little bit longer.

 

[NEDude]

Never heard of Sylvagio. What is he supposed to be doing for us?

Nobody by that name in the company directory.

 

[mach none]

If United or USAir have not failed yet, I cannot find a reason why VA would fail either.

 

[waveflyer]

http:// Too bad many on this boar...tail? I agree too. VA isn't going anywhere.