Finance Minister Mathias Cormann says Virgin Australia's "substantial foreign shareholders" had "the first responsibility" to bail out the airline.
Mr Cormann said the government wished to "continue to see two airlines in Australia" but believed the government had provided substantial support "on an economy-wide or sector-wide basis". "There is a clear public interest to have competition in the aviation sector," he said. "Administration offers an opportunity to deal with the challenges Virgin had been dealing with since before the COVID-19 pandemic.
Source: News Formal (newsformal.com)
MathiasCormann I can understand the angst of all of the Virgin staff but ask why are they not angry with Virgin management and not the feds who are doing a great job for the majority of us.
MathiasCormann Absolutely
MathiasCormann Yes let it fold. Who gives a stuff about the 100's of thousands in the tourism industry that will be badly impacted. The 16,000 Virgin staff, well they are just collateral damage. But we must save the 1,000 Adani jobs, they are so important.
MathiasCormann Say that to the 1000s of Australian Virgin employees.
MathiasCormann The cost terrible the job losses in 1000s tourism etc
MathiasCormann What is happening to Tiger Air?
MathiasCormann Mathias ... Doesn't that contradict what your colleagues been saying? I think they liked the idea of Aussie job retention. But I must give you credit for at least realising and acknowledging who actually owns Virgin. The media and politicians seem to have avoided that one.
MathiasCormann Richard Branson facing backlash over plea for £500m UK government bailout of Virgin Airlines. He's got a personal fortune of £4.2bn & is a tax exile who pays no UK income tax. OutRageous! Now he’s asking Australians to do the same! Are you kidding!
MathiasCormann Got a Airline person talking about saving this airline they have not paid one cent in taxes in seven years
MathiasCormann TWU it's was Virgin that sunk Ansett dip stick
MathiasCormann Labor Spin doctors just go away your all full of it ..Talk about Ansett it was Virgin that sunk Ansett. Unions bullshit
MathiasCormann The shit that this group saying what they are saying ...Labor Your not power that God...look what you did with Holden lost over two billion dollars tax payers money
MathiasCormann Great reply Cormann smart move ...not.like Labor fools
MathiasCormann Australian taxpayers shouldn’t foot the bill for an 90% foreign owned company!! Etihad Airways (20.94%) Singapore Airlines (20.09%) Nanshan Group (19.98%) HNA Group (19.82%) Virgin Group (10.42%)
MathiasCormann Pretty sure the Chinese company with 20% interest is owned by a billionaire.enough said.
MathiasCormann But if they don’t then the airline should be restructured and recapitalised as a majority government owned airline to ensure that rapacious Qantas has effective competition. Most Australians would see that this is a time when ideology has to be set aside.
MathiasCormann Same here. USA, Holland, France. Its not up to us to bail parasite Branson out.
MathiasCormann They set the standard with GM. A bail out was never going to happen.
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NSW government flags conditional Virgin bailout | Sky News AustraliaThe New South Wales treasurer has flagged the possibility the state government may offer Virgin Australia financial support if it moves its headquarters to the state.\n\nDominic Perrottet confirmed to Sky News he had been in discussions with the cash-strapped airline over its future and would like to see them become a tenant at the new Western Sydney Airport when it opens.\n\nThe Queensland government already offered $200 million - on several conditions - including it keeps its headquarters in Brisbane.\n\nBut the offer comes well short of the $1.4 billion the airline has sought out to survive the coronavirus crisis.\n\nImage: News Corp Australia\n\n Before the Corona Virus Virgin Airlines $Billion in turnover & payed NO corporate Tax in Aust Now Aust tax payers R asked to subsidise Virgin? And Qantas supports Labor zero emissions by 2050 Hmm that would shut down flights, Will Today U get a taste of zero emissions Qantas No bailouts let it go into liquidation it was failing before the virus hoax
Source: SkyNewsAust - 🏆 7. / 78 Read more »
NSW government negotiates with Virgin to relocate HQ to Sydney: Treasurer | Sky News AustraliaSky News host Sharri Markson has revealed NSW Treasurer Dominic Perrottet is in negotiations with Virgin Australia regarding “financial support” but the airline would “have to have the HQ of both Virgin and Tiger at the Western Sydney Airport site”.\n\nMr Perrottet told Sky News exclusively he has raised the possibility of Virgin moving its headquarters to the new aerotropolis facility at the new airport and it is “obviously part of the discussions we are having at the moment” regarding a potential bailout.\n\nThe Queensland Government have announced it would hand the airline $200 million in a bid to boost and maintain competition in Australia’s airline industry.\n\n“Virgin should have their headquarters for both Virgin and Tiger in Sydney,” Mr Perrottet said.\n\n“I’m always open for businesses right across the country to relocate to New South Wales and create jobs here in our state”.\n\nImage: Getty If the NSW government wants to commit treason like the Queensland government then they should go ahead. Nothing like bailing out foreign owned corporations in exchange for business deals while your constituents lose their livelihoods. If the NSW Government has hundreds of millions dollars spare to bale out a foreign airline why cant they feed and house thousands of people who are homeless in NSW. Dominic Perrottet in negotiations or Alan Joyce....are we going to have Virgin terminals at Mascot or are the poor people being encouraged to slog it to western Sydney on a bus
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Virgin Australia set for voluntary administrationThe Morrison government's refusal of further financial support for Virgin has sealed the carrier's fate, with the airline preparing to go into voluntary administration. Well so be it then. $5 bil in debt. Never made a profit. Well go figure. Not the governments role to bail it out. Time to say goodbye. I don’t want my taxes rewarding a company that has such debt
Source: theage - 🏆 8. / 77 Read more »
Virgin Australia set for voluntary administrationSeveral private equity firms are already sniffing around looking to potentially buy Virgin Australia out of administration, which will see some of its debts wiped and aircraft leases renegotiated Barbarians at the Gate! Be great if we could all have our debts wiped Poorly managed airline. On the other hand buy QAN shares
Source: smh - 🏆 6. / 80 Read more »
Labor calls on Morrison Govt to save thousands of Virgin jobs | Sky News AustraliaBill Shorten is calling upon the Morrison Government to ensure 'Virgin doesn't fall over'. \n\nMr Shorten said hundreds of families of Virgin workers are facing significant financial crises if the airline collapses. \n\nThe former opposition leader said Australia is facing the reality of becoming a one-airline nation. \n\n'If Virgin collapses a lifeline to the regions will be cut,' he said. \n\n“You’d have to believe in unicorns if you think that one large airline won’t see airfares go up,” he said. \n\nImage: News Corp Australia billshortenmp Labor have really lost their way when they want taxpayers to bail out overseas investors who pay zero tax. billshortenmp GovernmentIsTheVirus billshortenmp What about the rest of the businesses Bill. Nobody seems to give a damn. You have to be a big multi national to get any help. The whole country is going to be ruined. It is time to open up Australia
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Virgin Australia expected to go into voluntary administration, Deloitte tipped to step inVirgin Australia is expected to announce the airline will go into voluntary administration, with Deloitte tipped to help the company restructure about $5 billion in debt and pay off its creditors. For too long Virgin has been operating at huge losses, brought in has been glory boys from Qantas, reality check needed. New operation without the virgin tag needed. Walk before you run, major routes only until profitable. Glory days of aviation gone Perhaps the Virgin Islands Government, where Virgin Group is registered and pays (no) tax, will bail the company out. Or the UAE govt (20% shareholders in Virgin Aust), or even the Singapore govt (20%)...
Source: abcnews - 🏆 5. / 83 Read more »