Given Virgin Australia is "90 per cent China owned" and "paid no tax" on $23.4 billion revenue for five years, the Australian government need to "take a share in the company" rather than giving it a bailout says Centre Alliance Senator Rex Patrick. The airline, which recently stood down 8,000 employees, has lobbied the government for a $1.4 billion rescue package.
Senator Patrick said Australia does need to "protect our aviation industry" and ensure there are "two players in the market," but the answer is not a federal loan, rather the government needs to "take an equity stake" in the airline. He told Sky News host Peta Credlin given Virgin "has paid no tax over the five years [between 2013/14 and 2017/18] on $23.
Senator_Patrick 🙄
BaronBlacky Senator_Patrick Don’t just give this lot, what tantamounts to free cash, bail it out for 51% of shares in the company, put that deal on the table, take it or leave it option.
Senator_Patrick Just let it go broke. Why would taxpayers want a stake in it?
Senator_Patrick Why aren't these capitalists abiding by their own mantra? Seems to me they're capitalists in good times and socialist in bad times.
Senator_Patrick Let it fail then buy up its assets cheap.
jjp666 Senator_Patrick Virgin is also asking the U.K. to bail them out as well. Bransons US net worth is $4 billion
MRobertsQLD Senator_Patrick No. Let them go broke and buy from administrator as fire sale but definitely no bailout.
Senator_Patrick Unbelievable. Why should Australian pay tax if foreign companies pay no tax?
Senator_Patrick If the government was a shareholder; any sensible investor would not buy into the company because the Government doesn't have the shareholders interest to heart it has it's own.
Senator_Patrick Nationalize Virgin as its worth zero
Senator_Patrick Let Air New Zealand into Aus domestic market. There’s the competition you desire.
Senator_Patrick Hecs style loan
Senator_Patrick Absolutely, they have now gone cap in hand to the UK government looking for help. I agree that the UK government should also take a shareholding in the company SkyNews
Senator_Patrick Take ownership stakes in both.m Virgin and Qantas and see how much they really need our dollars..
MRobertsQLD Senator_Patrick Nationalize the airlines!
Senator_Patrick Same for private child care centres All owned by huge companies All making a fortune out of subsidies Now they want to be bailed out No ..... they are not special We are all suffering
MRobertsQLD Senator_Patrick 90% foreign own sorry let them sink.
MRobertsQLD Senator_Patrick Just let it sink. Not an investment worth owning
Senator_Patrick Just close it down!!
Senator_Patrick Another dumbass idea from one of our brain dead Senators. Virgin Australia is not worth anything as evidenced by their share price. Why would taxpayers want equity in a worthless enterprise. One day it would be nice to find a Senator who had even a modicum of business sense.
Senator_Patrick Makes total sense to me
Senator_Patrick Wise advice, it’s vital infrastructure and then sell it again once all this is over and pay back the citizens.
Senator_Patrick
PeterDo76549714 Senator_Patrick
Senator_Patrick ✔️
Senator_Patrick ....don’t really care who owns it....care about the hundreds of thousands of people it employs directly and indirectly....bailout it out for them...
Senator_Patrick Take a share and make the fuckers pay tax
Senator_Patrick Let it sink or let Branson use some of his Milti Millions to keep it afloat. ScottMorrisonMP PaulineHansonOz
Senator_Patrick China you.made this Virus so it's time your held accountable for your in actions towards this problem ..and how many have died in your country ...
Senator_Patrick Biggest con going hey Branson You cook the books to pay no taxes in five years time to close this airline down ..Bring back Ansett
Senator_Patrick Not sure why the reference to revenue, completely irrelevant.
Senator_Patrick 70%
Senator_Patrick Not Australian Not in titled
Senator_Patrick In that case let it fail Refuse sale to overseas company Then start our own.
Senator_Patrick Um no!
Senator_Patrick scomo stupidity to bailout this tax-evading scum.
Senator_Patrick Where are all the capitalists to save them now?
Senator_Patrick True farkin right it does!
Senator_Patrick I wonder if quantas is looking for a cheap airline...🤔
Senator_Patrick Nekilnojamo turto paslaugos Vidaus apdaila kaunas Statybos-Griovimo darbai Kaune
Senator_Patrick I pay taxes and don’t have a plane. They don’t pay taxes so why should they have a plane
Senator_Patrick
Senator_Patrick Why bail out on overseas owned company ... how unaustrailian is that !!!!
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Virgin Australia seeks $1.4bn govt bailout | Sky News AustraliaVirgin Australia has released a statement to the ASX confirming reports it’s seeking $1.4 billion bailout from the government to help it get through the coronavirus pandemic.\n\nThe statement said the financial assistance will be part of a broader package to the aviation industry.\n\nVirgin also said it is a preliminary proposal and would need approval by the board and the Australian government.\n\nIn response to the coronavirus crisis already, Virgin has suspended all international flights and cut domestic capacity by 90 per cent.\n\nIt also stood down 80 per cent of its 10,000 employees. We need this to happen , We cannot afford another Ansett What are the large cap/sovereign VA shareholders doing... laughing at ScottMorrisonMP and JoshFrydenberg... bcoz they certainly aren’t stumping up any of their own abundant cash. Aussie Scott, we’ll save ya! TAA
Source: SkyNewsAust - 🏆 7. / 78 Read more »
'Beware of complacency' amid COVID-19 news | Sky News AustraliaSky News host Peta Credlin says although there are early signs of Australia's daily infection rate plateauing, 'beware of any sense in the media … that we've done anywhere near enough to bring this crisis under control'.\n\nFederal Health Minister Greg Hunt and his state counterparts struck a deal on Tuesday to integrate private and public hospitals to increase Australia's health care capacity amid the ongoing coronavirus pandemic.\n\nThe minister also announced an increased capacity of ventilators, and intensive care beds.\n\nMs Credlin said it has always been 'absolutely essential' Australia avoided an 'Italian-style meltdown of our health system'.\n\nShe also mentioned how after a 'couple of weeks of ever-tightening social distancing rules' there are early signs in Australia 'that new infections, are starting to plateau'.\n\n'Beware of complacency,' Ms Credlin said because the experts in this field - epidemiologists - will want to 'see days and days of plateauing, and then falls' before there are any moves 'to ease social distancing rules'.\n Failed Abbott Chief of Staff Peta Credlin... Fixed. I feel dirty, I agree with Peta Credlin. Trust Credlin to rain on any good news!
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Australia is 'leading the charge' in finding a cure for coronavirus | Sky News AustraliaAustralia was the first nation to be able to 'grow the coronavirus outside of China,' which will greatly improve the prospects of developing a vaccine for the deadly virus says Science Minister Karen Andrews.\n\nMs Andrews told Sky News host Peta Credlin, Australia's scientists are 'leading the charge to look at a potential vaccine and of course a cure' for the virus.\n\nShe also said Australia has 'some outstanding scientists,' with the coronavirus highlighting the work of these professionals which is usually 'taken for granted'.\n\nImage: AP karenandrewsmp 'developing a vaccine' Here it comes idiots. ANewNineEleven Covid1984 Event201 PLANdemic GlobalEconomicCrash ID2020 MandatoryVaccination Blanket5GRadiation CentralizedGlobalDigitalCurrency SocialCreditScore UBI ForcedAusterity 24HourSurvelliance Agenda2030 Goatboy641 karenandrewsmp The fake new virus. karenandrewsmp Since when do you listen to a scientist?
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Govt should 'take an equity stake' in Virgin Australia | Sky News AustraliaCentre Alliance Senator Rex Patrick says the government should “take an equity stake” in Virgin Australia rather than just granting a loan to the company, which was struggling to keep afloat amid the coronavirus pandemic. \n\nMr Patrick told Sky News “there are similar downsides for a loan and an equity stake but significant upsides for an equity stake”.\n\nHe said “the taxpayer would likely make a profit” once the pandemic passed and the market “restores back to normal”. \n\n“It is not the same thing as owning a company outright,” he said. \n\n“The Australian government should not simply be handing out money to companies left, right and centre.\n\n“We do need to have a multifaceted approach.”\n\nImage: Getty Senator_Patrick So they get lumbered with a stake in an under performing airline and then have the political problems when you have to continually have to contribute funds when needed or go to offload its stake. Senator_Patrick Nationalise it all. Senator_Patrick I hope the Government does not entertain this option, with or without healthy competition. If they go under, someone else will come and start up a new airline in Australia !
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Tens of thousands of Britons ‘desperate to get home’ from Australia | Sky News AustraliaAn estimated 35,000 Britons on tourist visas, working holidays and others on short-term stays in Australia are “desperate to get home” right now, British High Commissioner to Australia Vicki Treadell says.\n\n“We also know that in the last three, four weeks, about 30,000 have managed to get back on the commercial flights that are available and continue to be available,” she said.\n\n “Just in the last week, about 7,000 managed to get on those flights.”\n\nMs Treadell told Sky News Britain’s first priority is to keep commercial airlines flying but would consider chartered options if a lack of airlines required such a mission.\n\n“We have been working with the airlines to try to persuade them to keep flying,” she said.\n\n“Where the government will lay on what are called repatriation flights is really only where the commercial options have ceased to exist and there is no other way home.\n\n“Only in that context will we look to facilitate a chartered airline to compensate for the lack of commercial options.\n\n“That is not currently the situation here in Australia.”\n\nFor British people capable of remaining in Australia through the COVID-19 pandemic, Ms Treadell said “maybe it is best to try to stay here and see this out”.\n\n“The people we really want to focus our attention on are those who need to go home – particularly our most vulnerable.” Send em back Let Britain arrange for and pay to bring them home. Send them home the way they sent us here..... for shits n giggles....
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Excessive coronavirus regulations 'could have the reverse effect' | Sky News AustraliaLiberal MP Craig Kelly says police shouldn't be overzealous when enforcing social distancing rules as it could mean Australians start ignoring warnings and holding authorities in 'contempt'.\n\nThe New South Wales Police Commissioner Mick Fuller recently defended his officers after they raided parks and beaches on Tuesday and Wednesday to enforce social distancing rules.\n\nPeople are currently allowed to be outside in groups of two, or more if they are from the same household.\n\nUnder new laws, anyone caught doing the wrong thing faces a fine of up to $11,000 or six months in prison. \n\n'It’s really got to be common sense in this,' Mr Kelly told Sky News host Chris Kenny. \n\nHe said if the regulations are enforced 'it in a way that’s overkill, you’ll have the reverse effect'. \n\n\n CraigKellyMP As that the Media admitting this illegal Legislation is infact contempt? CraigKellyMP That's right Kelly, one law for the majority and another for wackers that may hold authorities in contempt. Not real smart thinking, but true to form. CraigKellyMP Speaking of contempt...
Source: SkyNewsAust - 🏆 7. / 78 Read more »