Virgin America down to 22 million in unrestricted cash

[OurMoney1]

Yep-if they can live while paying industry standard wages and aren't artifically propped up and can compete with profitable fares without dumping $139 coast-coast-capacity, then great. It's a free country, however. Funny how people bash the regionals for replacing major airline flying and yet, some here don't see the similarities here. How is this venture any different than Skybus or Mesa? If the upgrade there was 10 years, they wouldn't see a soul applying.

I agree with you on all points. But keep in mind, in all industries, someone is always going to come into practice that bucks the status quo. Before Virgin we had Skybus, before that we had Tower Air, and yet before that we had Peoples Express, and dozens between those mentioned! Like many before it looks like Virgin will have its day. As said earlier I dont want anyone to lose their job but Virgin has been a sore spot for labor for several years now. If they go away we can corrrect capacity and possibly raise some fares. More money in the coffers means healthier operations which positions our labor groups to ask for more money.

 

[Cheeta]

Virgin America will be sold to Jetblue in 90 days...you heard it here first!

Virgin Atlantic is in the final phases of being sold....Virgin Mobile sold to T Mobile...Virgin Records sold an shut down....Virgin Cola gone!

The Virgin brand is being carved up and sold off...Branson is bleeding cash world wide in this global recession and he has no choice but to sell to the walls and preserve cash.

And this moron is still dumping money in space tourism? Good luck fellows.

 

[Fubijaakr]

Perhaps the jetBlue guys will staple the Virgins.

 

[waveflyer]

I love all the "capitalists" here-

I don't mind new entrants- but youre damn right I'm working and competing and doing my small part to put them out of business-

It's why 1st year pay is so awful in our industry. One shouldn't work for just one company their whole life in a capitalistic society and we've set it up that except for those who work for a good few companies will be punished severely for changing companies when that's what a capitalistic system strives for

 

[Mr.B]

Virgin America will be sold to Jetblue in 90 days...you heard it here first!

Virgin Atlantic is in the final phases of being sold....Virgin Mobile sold to T Mobile...Virgin Records sold an shut down....Virgin Cola gone!

The Virgin brand is being carved up and sold off...Branson is bleeding cash world wide in this global recession and he has no choice but to sell to the walls and preserve cash.

And this moron is still dumping money in space tourism? Good luck fellows.

Nope... It's Spirit.

 

[tzskipper]

Virgin America will be sold to Jetblue in 90 days...you heard it here first!

Virgin Atlantic is in the final phases of being sold....Virgin Mobile sold to T Mobile...Virgin Records sold an shut down....Virgin Cola gone!

The Virgin brand is being carved up and sold off...Branson is bleeding cash world wide in this global recession and he has no choice but to sell to the walls and preserve cash.

And this moron is still dumping money in space tourism? Good luck fellows.

Just curious, could you please post a link to the information you provided? I think Virgin is involved in close to 400 different companies, and I have not read anything indicating that Branson is "bleeding cash world wide".

Thanks in advance,

S

 

[Cheeta]

Just curious, could you please post a link to the information you provided? I think Virgin is involved in close to 400 different companies, and I have not read anything indicating that Branson is "bleeding cash world wide".

Thanks in advance,

S

Virgin Atlantic suffers £132million loss as demand falls


By Daily Mail Reporter
Last updated at 10:49 PM on 30th July 2010


Read more: http://www.dailymail.co.uk/money/ar...2million-loss-demand-falls.html#ixzz1A2YpTpff

 

[tzskipper]

Virgin Atlantic suffers £132million loss as demand falls


By Daily Mail Reporter
Last updated at 10:49 PM on 30th July 2010


Read more: http://www.dailymail.co.uk/money/ar...2million-loss-demand-falls.html#ixzz1A2YpTpff

Thanks, but I fail to see how you drew your conclusion(s) from that article...

Regards,

S

 

[BILL LUMBERG]

I love all the "capitalists" here-

I don't mind new entrants- but youre damn right I'm working and competing and doing my small part to put them out of business-

It's why 1st year pay is so awful in our industry. One shouldn't work for just one company their whole life in a capitalistic society and we've set it up that except for those who work for a good few companies will be punished severely for changing companies when that's what a capitalistic system strives for

I'm trying to figure out where it says a capitalist makes you buy your way into an interview and job by paying for your own training. I figure you must be part of the problem then......

I just love how you preach from on high o wise one!

 

[Blue Dude]

The mods have been relentless with moving JetBlue threads out of the Majors forum. Why is this one still here?

 

[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