Virgin America QOL

[Flyer1015]

VX didn't 'move some money around'. VX received ~$400 million in new money/loan conversion in a corporate restructuring (most would call it an out of court bankruptcy). For a company of VX's size, $400 million is a HUGE amount of money; 2Q2013 revenues were $376 million.

Maintenance costs are clearly listed on 2Q2013's financial results press release. http://www.virginamerica.com/press-...ts-second-quarter-2013-financial-results.html

I find it incredulous that you would be doing a victory dance so soon after the massive amount of money poured into VX to keep it alive.

The conversion is a simply adjustment of how the investors -the debt holders- get paid. VX pays their interest expense on the loans as best they can every quarter and the investors have made money on that. Converting their debt into equity stock will have them score once on the company IPOs. Or they could have had that approx. 300 million in loan amount and accrued interest payments on that debt. Now that money doesn't have to have interest paid on it but the 'loss' will be the payout to these investors after IPO. But then again that is the point of the IPO and everyone scores when they hold shares for a company. The real liquidity was $75 million. Andy that's where you can get your pants in a wad because that was a pure addition. I give you some credit, you did say VX would "need" $100 million before 2013 was over and it seems we got 75 million. Not bad. VX had several instances where there was an operational profit but the massive interest payment would end up in a net loss. Now with the restructuring of the company to be more in line with how a public company is, things look a lot better. Great news was the net positive cash flow generated during the second quarter. 3rd quarter results should be out soon and I have a feeling they will meet or exceed 2nd quarter numbers.

 

[NEDude]

$33.5 million net profit in Q3.

 

[rfa]

Hi all, quick question:

What is training pay like?

 

[bri5150]

I believe it was $2500 a month. They get you in and out in a month and a half...first day until LOFT.

 

[rfa]

^ Cheers! Thanks a bunch.

 

[bri5150]

VX didn't 'move some money around'. VX received ~$400 million in new money/loan conversion in a corporate restructuring (most would call it an out of court bankruptcy). For a company of VX's size, $400 million is a HUGE amount of money; 2Q2013 revenues were $376 million.

Maintenance costs are clearly listed on 2Q2013's financial results press release. http://www.virginamerica.com/press-...ts-second-quarter-2013-financial-results.html

I find it incredulous that you would be doing a victory dance so soon after the massive amount of money poured into VX to keep it alive.

I actually think I remember something as to one reason why maintenance costs may have went down. I believe we used to have a tech meet the aircraft after every arrival no matter what station. I think they cut back having a tech at all the outstations, so they just have contract maintenance when needed...I think. I am sure there is other stuff as well. As you can tell by my wording, I am not certain about any of what I wrote. Maybe someone else can chime in...if they care.

 

[AEROSQUADRON69]

Any latest and greatest about what is happening at VA? Thanks.

 

[Ralph Cramden]

Refresh starts in February. Yippe!

To answer your question we are hearing that H is dusting off the hiring machine. Guys are getting the call to interview, but there still remains quite a few in to pool waiting on class dates.

 

[Flyby1206]

Refresh starts in February. Yippe!

To answer your question we are hearing that H is dusting off the hiring machine. Guys are getting the call to interview, but there still remains quite a few in to pool waiting on class dates.

Did you guys get a pay review for the next 3 years as someone mentioned up thread? Just curious how the rates are looking.

 

[bri5150]

Board won't commit to three years right now...at least that is the word. We were suppose to find out about this years raise on Jan 23rd. It sounds like it is delayed a week to "make additional changes". Most feel like this raise won't be much. We'll see in a week or so.