It should be noted, however, that only Virgin of the two Australian carriers, and only a handful of the plethora of super funds in the $3 trillion sector have put their hands out – Virgin for a $1.4 billion loan and the funds for a liquidity facility from the Reserve Bank.if Virgin gets $1.4 billion that’s posturing to convince the government not to bail out his domestic competitor.
where the call on savings might be greatest, but have large slabs of their members’ funds tied up in illiquid assets such as infrastructure, or direct property or private equity. In the previous decade, which it started with seed capital of only $10 million, Virgin Blue had generated a billion dollars of profits, paid dividends and returned hundreds of millions of dollars to its shareholders.
Just as the government shouldn’t discriminate and tilt playing fields in aviation, it shouldn’t effectively punish well-managed super funds for the poor liquidity management of their peers.
Steady as she goes.......Morrison is doing a great job.
Virgin MUST survive. Otherwise , U are assigning Australia to being 'A One Horse Town'
we should NOT be bailing some Chinese owned Airline, too bad for them,
Bailing out the UAE and Singapore Govt's by default? Not likely.
No bail out” put these plains that are parked up idle to good use they can use to ship Australian cargo for Australian industry’s and farms
LNP since ABBOTT (Remember that P.....K) have always ONLY looked after & propped up QANTAS & that little slime JOYCE!! There goes another bit of competition!!😡
Should purge industry and allow profitable to remain.
If that is the case, ScottMorrisonMP is ignoring the opinion of ACCC Chairman, Rod Sims. For those baying for blood, be careful of what you wish for. I remember life post-Ansett collapse. asupol VirginAustralia
As they should...
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Australia should 'take an equity stake' in foreign owned airline | Sky News AustraliaGiven 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.\n\nThe airline, which recently stood down 8,000 employees, has lobbied the government for a $1.4 billion rescue package.\n\nSenator 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.\n\nHe told Sky News host Peta Credlin given Virgin 'has paid no tax over the five years [between 2013\u002F14 and 2017\u002F18] on $23.4 billion worth of revenue' if the government did 'hand that company money … most taxpayers would find that offensive'.\n\nHis idea would see a situation where 'we help the company out after the coronavirus,' end up with the aviation sector returning to normal, and 'the taxpayer could actually make a profit'.\n\nImage: AP Senator_Patrick Why bail out on overseas owned company ... how unaustrailian is that !!!! Senator_Patrick Senator_Patrick I pay taxes and don’t have a plane. They don’t pay taxes so why should they have a plane
Source: SkyNewsAust - 🏆 7. / 78 Read more »
IMF warns wartime measures are needed to protect global economy during coronavirus pandemicThe International Monetary Fund is calling on governments to act now, predicting the war phase of the global pandemic will last at least one to two quarters. Fair to say Australia's doing just this, ScoMo's finest hour ✌️. I'm sure the ABC would agree 😉😉. Why? So that IMF and World Bank can disgracefully increase their global power and control in the world. 🖕🖕 Deep State strikes again! this is what they want!
Source: abcnews - 🏆 5. / 83 Read more »
Airline's surprising move in crisisStranded travellers have found an unlikely saviour in Qatar Airways as the airline launches new flights to Australia despite other airlines suspending international services. Who the FK is coming or going? Lol. shutbordersno? Be careful, aeroplane transmission of disease is highest in March 2020, make sure Aeroplane is washed with hot water and chemicals each time before passengers get in. There is not one Qatari working on these air crafts
Source: newscomauHQ - 🏆 9. / 77 Read more »
NZ's coronavirus modelling offers clues to Australia's confidential plansThe New Zealand government has publicly released its COVID-19 modelling, offering an invaluable insight into Australia’s own modelling so far kept from the public. Wouldn’t mind seeing the modelling that is the subject of the article. If Ardern squashed a cats head with her bare hands Australians would say ‘when are you going to squash a cats head with your bare hands Scott Morrison?’.
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NZ's coronavirus modelling offers clues to Australia's confidential plansThe New Zealand government has publicly released its COVID-19 modelling, offering an invaluable insight into Australia’s own modelling so far kept from the public | Kaubo Kaubo why not tell us the plan. they want everyone to follow it so tell us. Kaubo Kaubo jacindaardern Does this virus act as way to reduce population to correct climate emergency? - lack drinking water + sanitation - floods, temp/fires, soil issues JennyMikakos DanielAndrewsMP AlboMP theage nytimes latimes washingtonpost WHO guardian ScottMorrisonMP
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Govt should consider 'long term' of aviation bailout | Sky News AustraliaLabor leader Anthony Albanese has urged the government to consider the long term impact of Virgin going bankrupt, when the PM considers whether to agree to the airline's request for $1.4 billion loan rescue package.\n\nSky News understands the government has “no enthusiasm” to take on the $1.4 billion request for a loan rescue package, which could see the government take on a share in the business if the loan is not repaid in two to three years' time. \n\nBut Mr Albanese said he hopes the government was thinking in the long-term. \n\n“I’m not in a position given I have not seen the specific proposals … but I do think the government should consider any proposal from a sympathetic point of view. and should consider it the form of the long term,” he said. \n\n'A lot of capital has gone into building up our aviation sector here in Australia and I want to see that continue, as it has done in recent years, to serve the nation well.'\n AlboMP Let billionaire Branson bail his own out AlboMP Maybe the unions could bail them out AlboMP Get rid of Joyce and nationalise QANTAS. Richard can take a hike
Source: SkyNewsAust - 🏆 7. / 78 Read more »