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Virgin America hangs as its hedge fund owners get antsy

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OurMoney1 said:
Anybody wanna take a guess on when VA will cease operations?

Yesterdays news reads that the US shareholders are out yet still on the board filling a seat. Alaska is claiming the board members have no fiduciary value to the airline and Virgin Group is in violation of ownership regulations.

Is anybody familiar with the enforcement code on this? How long does VA have to get investors to occupy those board seats? Is there performance required? How long can Branson play games searching for new investors to sit at the table?
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Read the DOT show cause order granting the certificate. The recall rights and redemption process were spelled out in advance.
 
Splert said:
I'll take that as you don't have any.

Question #2: What are your vacation and sick time accrual rates and maximums?
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That wasn't in response to you. Our standard daily rig is the greater of what you work, where scheduled to work, or 3.5 hours. We get 125% over 82 hours or when offered by scheduling.

Vacation is essentially 1 week of vacation for every year with the company.

We have unlimited sick time.
 
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I wonder what Southwest paid their employees/pilots when they started 25 years ago and where a crappy outfit with a couple of old planes. Now they are a respectable airline with great work rules.I just do not understand why a 1.5 year old airline is compared to companies that are around for years and have gone through several contract negotiations to get where they are now....
I hope VA survives, have flown on them several times and they are the best. can't stand the other carriers with old equipment and employees with sh$tty attitudes, oh wait the all work for excellent wages and workrules, not....
 
metro,

Someday when you have some experience in the airline industry you'll realize that scumbag outfits like VA drag the industry down to their level.
 
mvedepo said:
That wasn't in response to you. Our standard daily rig is the greater of what you work, where scheduled to work, or 3.5 hours. We get 125% over 82 hours or when offered by scheduling.

Vacation is essentially 1 week of vacation for every year with the company.

We have unlimited sick time.
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Industry Norms are:
TAFB Trip Rig is 1 for 3.5, VA = ?
Daily/Duty Period = 5 hours, VA = 3.5
Duty Time = 1 for 2, VA = ?

SWA rigs are much better than those.

What is your sick time accural rate?

Question #3: Loss of License Plan?

The point is that pay values are only 1/8 the story. Super you get $100 an hour for a 4 day trip that credits 14 hours ($1,400) vs 22.8 hours (2,285.00).

As long as pilots only point to airlinepilotcentral.com pay charts this profession is screwed.
 
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Amen, splert, amen.

You're my new FI hero.
 
metroplex said:
I wonder what Southwest paid their employees/pilots when they started 25 years ago and where a crappy outfit with a couple of old planes. Now they are a respectable airline with great work rules.I just do not understand why a 1.5 year old airline is compared to companies that are around for years and have gone through several contract negotiations to get where they are now....
I hope VA survives, have flown on them several times and they are the best. can't stand the other carriers with old equipment and employees with sh$tty attitudes, oh wait the all work for excellent wages and workrules, not....
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Oh no Mplex...you're going to ruin all the "my airline's better than yours" banter with talk like that.
:)
 
mvedepo said:
That wasn't in response to you. Our standard daily rig is the greater of what you work, where scheduled to work, or 3.5 hours. We get 125% over 82 hours or when offered by scheduling.

Vacation is essentially 1 week of vacation for every year with the company.

We have unlimited sick time.
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You sound like the band on the Titanic.
 
Based on the news today about VA. I am sure they will find new investors and continue normal ops. But, I have to say the one tiny thing that stands out is that VA is not completely honest. IN a news report dated March 3rd. the denied to the death that the (2) US investors would be bailing out. Today they did. I am not that naive to think that VA had no clue as to this March 3rd. Please. It just goes to show that VA management is no different than any other airlines. VA really is not a different airline after all. They hide the truth and tried to hide their financials. It is sad because I really thought they would be different. Just smoke and mirrors and some mood lighting. Take heart employees....VA is lieing to you all about their future. I wish them no ill, just be honest. You knew you were going to lose your investors and you lied about it a week ago. (sigh)
 
LOL...never mind...it's still going strong.
 
I find it very interesting that in the linked SF Chronicle article above that Cush was quoted saying that (and I paraphrase) look, we are still 75% controlled by Americans that hasn't changed. What he pointedly left out was the fact that there are two requirements. You have to be 75% controlled by Americans and 51% owned by Americans. Why didn't he say that they were still 51% owned by Americans? Because they aren't.
 
Singlecoil said:
I find it very interesting that in the linked SF Chronicle article above that Cush was quoted saying that (and I paraphrase) look, we are still 75% controlled by Americans that hasn't changed. What he pointedly left out was the fact that there are two requirements. You have to be 75% controlled by Americans and 51% owned by Americans. Why didn't he say that they were still 51% owned by Americans? Because they aren't.
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Maybe this interview will answer a few questions:

http://cbs5.com/video/[email protected]

What I don't get is that ALK management is making their case based on a newspaper article. Any idea of what their response will be if/when the DOT rules that there is no issue?

Skipper
 
tzskipper said:
Maybe this interview will answer a few questions:

http://cbs5.com/video/[email protected]

What I don't get is that ALK management is making their case based on a newspaper article. Any idea of what their response will be if/when the DOT rules that there is no issue?

Skipper
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What questions did this answer? That Cush knows how to dodge question and give no real answers. It was simply a marketing interview hoping to draw some actual U.S. investors to bail them out.

Good or bad, Alaska doesn't do anything without researching it to death first. This includes moving into a new market, negotiations, etc...and includes pressing the DOT about Virgin possibly being in violation on foreign ownership laws. It's highly doubtful they got this ball rolling because someone in management picked up a newspaper one morning.
 

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