Virgin America down to 22 million in unrestricted cash

[BILL LUMBERG]

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

Depends on when the creditors have had enough of the shenanigans and pull the plug......my money is on that....

Cool Uni's though!!

 

[Dizel8]

Why would the creditors/investors pull the plug? From what I read somewhere, Sir Richard has personally guaranteed a return on their money!

"Two firms with no prior history in the aviation industry finally pledged backing: Cyrus Capital Partners, based in New York, and Black Canyon Capital in Los Angeles. Both minimized their risk by structuring their investments with put options, which guaranteed them the right to sell their shares back to the airline with an 8 percent gain if the startup did not meet certain benchmarks"

Of course, that pesky "foreign ownership" issue will always be a point of contention. Both investors sold back to Sir Richard, at guaranteed profits, yet the DOJ saw no problems,good thing Mr.Skinner was on board, could he have greased the skids?

"After such a tortured launch, both U.S. investors exercised the option to sell their stakes back to the airline. The company faced a simultaneous cash and regulatory crisis, since Branson's stake now exceeded 50 percent. In the ensuing refinancing, the Virgin Group lent Virgin America another $60 million (which did not ease its stake), and Cyrus Capital agreed to step back in with a $20 million loan and assume the majority ownership position. Virgin America board members like Cush, Carty, and Samuel K. Skinner, a former Secretary of Transportation under George H. W. Bush, also took a collective 21 percent share of the company to keep it in regulatory compliance."

Yes, I know the DOJ investigated, but with Mr. Skinner onboard, who served under Bush , well, lets just say that investigation is questionable at best.

http://www.businessweek.com/magazine/content/11_02/b4210064436433.htm

 

[NEDude]

How's that SNA service going?

Well considering your comprehension skills are lacking, the point is that Virgin America is not shrinking like failing companies. We lost SNA but added YYZ, MCO, DFW, SJD and CUN. That is called growth.

Sorry, but your attempt at a burn failed.

Next...

 

[NEDude]

"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. ...

Another lame attempt. So I am going to give you an assignment that will hopefully teach you how bad your response is. Please check the dates of your articles, compare those to the date Skybus launched service.

Come back when you realize your Skybus articles come from pre-launch. Then also tell me how many orders for airplanes Skybus was making three years after they launched? Tell me when Skybus reported a profit?

Thank you for your time.

 

[NEDude]

Depends on when the creditors have had enough of the shenanigans and pull the plug......my money is on that....

Cool Uni's though!!

Virgin America has been very aggressive about paying down debt, which has been part of the profitability issues. But the creditors have been very happy, which is why they have been willing to finance further expansion.

 

[NEDude]

More FYI for the naysayers-

At the end of 3rd quarter 2009, Virgin America has $23.2 million in cash and $57.6 million in liquidity.

At the end of 3rd quarter 2010, Virgin America had $25 million in cash (a 7.7% improvement) and $100 million in total liquidity (a 73.6% improvement).

For all of you doomsday folks, that represents a financial improvement. Virgin America is gaining cash and liquidity, not losing it.

 

[jetbluedog]

Lahdy Friggen Dah NEDude......VA is going DOWN on based on Crude Oil. $4 - $5 gas by July of this year, 100% guaranteed.

Crude Oil Price Will Reach $120 a Barrel Before End of 2011


Oil will advance to $120 a barrel before the end of 2011 as consumption grows in emerging economies.
The Organization of Petroleum Exporting Countries, which is responsible for about 40 percent of global supplies, is unlikely to increase production in the first half of next year unless prices surge through $100 a barrel, the bank said in a report today.

 

[Ralph Cramden]

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!

Hi again Bill!

Let me be clearer. I agree with you! We aren't a major. I was pointing out how you howled on the last thread about us in the major's forum, and wondering why you haven't done the same here.

Could it be this one is a bash fest as opposed to the last one, where hiring info was requested? I am calling you a hypocrite.

There, understand me now?

Cheers!

Ralph.

 

[waveflyer]

I love the dig on Uni's when airline pilots are the only geeks still rocking the short sleeve and tie- you'd get kicked out of an Intel geek office if you wore that-

 

[Fubijaakr]

So how IS that SNA service going?

 

[jonjuan]

Jesus H. Christ....Take a look at ANY SFO/LAX-DFW flight anytime over the next 6 weeks. Selling for $104 OW and have maybe 10 seats on each flight sold. Talk about over expansion.
At least they pay industry standard wages.

 

[Fubijaakr]

So, how's that SNA service going?

 

[gutshotdraw]

I lost my Virginity yesterday. Jet was packed. Crew was nice. And one F/A had the BEST backside of ANY woman I have EVER seen. In perfectly fitted, skintight uniform pants.

Overall, it was a nice ride but it's just another airline...

 

[Chairman]

[QUOTE[/COLOR][/URL]


Oil will advance to $120 a barrel before the end of 2011 as consumption grows in emerging economies.
The Organization of Petroleum Exporting Countries, which is responsible for about 40 percent of global supplies, is unlikely to increase production in the first half of next year unless prices surge through $100 a barrel, the bank said in a report today.[/QUOTE][/B]

VA is 85% hedged through 2011 and 75% hedged through 1Q 2012

 

[spacecadet1]

I lost my Virginity yesterday. Jet was packed. Crew was nice. And one F/A had the BEST backside of ANY woman I have EVER seen. In perfectly fitted, skintight uniform pants.

Overall, it was a nice ride but it's just another airline...

Did you score her phone no.?
Of course on her salary, it might cost you some money, since she probably has to turn some tricks to pay rent.
Heck, the cockpit crew probably does also.

 

[hyflyin]

I lost my Virginity yesterday. Jet was packed. Crew was nice. And one F/A had the BEST backside of ANY woman I have EVER seen. In perfectly fitted, skintight uniform pants.

Overall, it was a nice ride but it's just another airline...

Very true, and NJA is just another fractional. Actually, the most expensive fractional, and with no extras for all that extra money.

 

[hyflyin]

I love the dig on Uni's when airline pilots are the only geeks still rocking the short sleeve and tie- you'd get kicked out of an Intel geek office if you wore that-

And "bitched slapped". LOL

 

[hyflyin]

Lahdy Friggen Dah NEDude......VA is going DOWN on based on Crude Oil. $4 - $5 gas by July of this year, 100% guaranteed.

Crude Oil Price Will Reach $120 a Barrel Before End of 2011


Oil will advance to $120 a barrel before the end of 2011 as consumption grows in emerging economies.
The Organization of Petroleum Exporting Countries, which is responsible for about 40 percent of global supplies, is unlikely to increase production in the first half of next year unless prices surge through $100 a barrel, the bank said in a report today.

Thats funny, MSNBC had 2 different investment advisers predict prices would hit 100 and come back to between 50-90 bucks a barrel by the middle of the year.

100% sure.... yeah and the market is going to 6000. I can't stand blow hole, dooms dayers like you. You don't know sh*t and you cost people a lot of money. I witnessed guys pull out of their 401Ks because people like you were "100%" sure. Stick to what you know, FLYING!!! Your a joke!! Nobody knows, we all have to wait and see.

OMG, I'm turning in BL. I better put in a Delta app!!

 

[IAHERJ]

Rumor has it Virgin Atlantic is being shopped around for a buyer. Singapore owns 49% but several players are lining up to make a play for VA. Don't know what this means for Virgin America but makes for interesting speculation...

 

[waveflyer]

I heard a rumor that continental is going to merge with united and then fly 70 seaters out IAH???