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(Yahoo)   Anyone want to buy an airline? If interested, please contact Richard Branson at whatever private tropical island he's currently riding out the pandemic on   (finance.yahoo.com) divider line
    More: Unlikely, Richard Branson, British Airways, Virgin Group, Virgin Atlantic Airways, Singapore Airlines, Delta Air Lines, Houlihan Lokey, Delta Air Lines Inc.  
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437 clicks; posted to Business » on 26 Apr 2020 at 9:51 AM (22 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



21 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2020-04-26 10:09:06 AM  
I think the fact there haven't been any comments says it all.
 
2020-04-26 10:12:33 AM  

hoodiowithtudio: I think the fact there haven't been any comments says it all.


Way to ruin it!
 
2020-04-26 10:17:11 AM  
I'll buy it; I always wanted to run an airline. They are almost 100% guaranteed to collapse and go bust but it would be fun while it lasted. I'm willing to put $5k of my own money down.

Also, if I can secure a direct route from EDI to PHX, that's a bonus.
 
2020-04-26 10:18:01 AM  
Brilliant timing there old chap.
 
2020-04-26 10:23:39 AM  

hoodiowithtudio: I think the fact there haven't been any comments says it all.


Sorry, pally, but this thread is about Richard Bronson.  No dice!
 
2020-04-26 10:27:09 AM  
I was on a Virgin flight when the crew found out they were all being laid off. Wonderful people who were friendly and professional and surprisingly honest about it. Seemed like the airline was doing some good things to help them out - over a month of pay but spread out over twice as long so combined with unemployment assistance it would keep them going at nearly the same level for nearly 3 months. Really sucks for them though.
 
2020-04-26 10:32:25 AM  

cefm: I was on a Virgin flight when the crew found out they were all being laid off. Wonderful people who were friendly and professional and surprisingly honest about it. Seemed like the airline was doing some good things to help them out - over a month of pay but spread out over twice as long so combined with unemployment assistance it would keep them going at nearly the same level for nearly 3 months. Really sucks for them though.


A guy I know told me he was on an Eastern flight the day they folded. When they landed, the flight attendants gave away all the booze to the passengers.
 
2020-04-26 10:32:40 AM  
Seeks buyer for multinational buggy-whip enterprise
 
2020-04-26 10:34:17 AM  
Maybe sacrificing a virgin now will save us all?
 
2020-04-26 11:15:13 AM  
Virgin has been my favorite airline.  Hope they survive.
 
2020-04-26 11:16:55 AM  
That's how it works. You create a business and it excels or fails. But do not socialize losses. Im actually kind of happy their Gov told them to get bent for now. It's a private matyer. Time to sell assets, issue debt, issue equity shares etc. But not a taxpayer issue.
 
2020-04-26 11:37:34 AM  
This is what should happen. He asked for bailouts from Australia and got told to get bent. He asked for bailouts from the UK and got told to get bent and maybe try paying a penny in tax one of these decades. Now someone will get a chance to run the airline more responsibly, rather than riding the edge of bankruptcy on the assumption that it's fine to buy yourself another dozen private islands because Johnny Taxpayer will cover you if the market turns sour.

After watching him lose his Virgin rail contract for the UK because he tries to hardball the government on funding his workers' pensions and got told to go fark himself, this is particularly delicious.
 
2020-04-26 11:58:53 AM  
Depends....can we get a lot of republican senators on one plane and "lose" it over the pacific? or is that frowned upon
 
2020-04-26 12:44:20 PM  

pkjun: This is what should happen. He asked for bailouts from Australia and got told to get bent. He asked for bailouts from the UK and got told to get bent and maybe try paying a penny in tax one of these decades. Now someone will get a chance to run the airline more responsibly, rather than riding the edge of bankruptcy on the assumption that it's fine to buy yourself another dozen private islands because Johnny Taxpayer will cover you if the market turns sour.

After watching him lose his Virgin rail contract for the UK because he tries to hardball the government on funding his workers' pensions and got told to go fark himself, this is particularly delicious.


You do realize every airline in the world will fail without a bailout?  Not just some, but every single airline?

It takes 18 - 24 months to start up an airline.

Starting up a new Boeing or Airbus would take 10 years.

I think as Johnny Taxpayer should receive 49% of all airlines receiving aid to make things fair.
 
2020-04-26 1:21:55 PM  
i was on the final cruise of the carnival cruise ship celebration. the last night and early morning of the final day the were were packing open bottles of booze,silverware, plastic cups, dinnerware into boxes. the cruise line was that cheap or stupid. all press releases from the cruise line said the ship was going to their their sister cruise line in italy called ibero. that cruise line folded about the day the ship was about to sail. the ship was made its way to a piece of crap single ship cruise line running out of miami. what international company needs to save bottles of booze 1/3 full and used dinnerware?
don't mention the ss france/norway and its demise.
 
2020-04-26 1:42:32 PM  

TedCruz'sCrazyDad: pkjun: This is what should happen. He asked for bailouts from Australia and got told to get bent. He asked for bailouts from the UK and got told to get bent and maybe try paying a penny in tax one of these decades. Now someone will get a chance to run the airline more responsibly, rather than riding the edge of bankruptcy on the assumption that it's fine to buy yourself another dozen private islands because Johnny Taxpayer will cover you if the market turns sour.

After watching him lose his Virgin rail contract for the UK because he tries to hardball the government on funding his workers' pensions and got told to go fark himself, this is particularly delicious.

You do realize every airline in the world will fail without a bailout?  Not just some, but every single airline?

It takes 18 - 24 months to start up an airline.

Starting up a new Boeing or Airbus would take 10 years.

I think as Johnny Taxpayer should receive 49% of all airlines receiving aid to make things fair.


You can rush thru a bankruptcy in 30 days. And still be operational.

Bankruptcy is more of just a shifting of paperwork. They get a quick infusion of cash to keep ops going, rush it through court, and have a newly "formed" company that is has a lot less debt on the other side.

At my previous job we bought out a failing competitor, from acceptence of the bid, then thru the courts, was ~27 days. Operations kept going the whole time. Courts in bankruptcies do an ok job to make it quick becaise thousands of jobs are on the line.
 
2020-04-26 3:31:00 PM  

TedCruz'sCrazyDad: pkjun: This is what should happen. He asked for bailouts from Australia and got told to get bent. He asked for bailouts from the UK and got told to get bent and maybe try paying a penny in tax one of these decades. Now someone will get a chance to run the airline more responsibly, rather than riding the edge of bankruptcy on the assumption that it's fine to buy yourself another dozen private islands because Johnny Taxpayer will cover you if the market turns sour.

After watching him lose his Virgin rail contract for the UK because he tries to hardball the government on funding his workers' pensions and got told to go fark himself, this is particularly delicious.

You do realize every airline in the world will fail without a bailout?  Not just some, but every single airline?

It takes 18 - 24 months to start up an airline.

Starting up a new Boeing or Airbus would take 10 years.

I think as Johnny Taxpayer should receive 49% of all airlines receiving aid to make things fair.


Do we really need airlines though?
 
2020-04-26 8:30:08 PM  

AsparagusFTW: TedCruz'sCrazyDad: pkjun: This is what should happen. He asked for bailouts from Australia and got told to get bent. He asked for bailouts from the UK and got told to get bent and maybe try paying a penny in tax one of these decades. Now someone will get a chance to run the airline more responsibly, rather than riding the edge of bankruptcy on the assumption that it's fine to buy yourself another dozen private islands because Johnny Taxpayer will cover you if the market turns sour.

After watching him lose his Virgin rail contract for the UK because he tries to hardball the government on funding his workers' pensions and got told to go fark himself, this is particularly delicious.

You do realize every airline in the world will fail without a bailout?  Not just some, but every single airline?

It takes 18 - 24 months to start up an airline.

Starting up a new Boeing or Airbus would take 10 years.

I think as Johnny Taxpayer should receive 49% of all airlines receiving aid to make things fair.

You can rush thru a bankruptcy in 30 days. And still be operational.

Bankruptcy is more of just a shifting of paperwork. They get a quick infusion of cash to keep ops going, rush it through court, and have a newly "formed" company that is has a lot less debt on the other side.

At my previous job we bought out a failing competitor, from acceptence of the bid, then thru the courts, was ~27 days. Operations kept going the whole time. Courts in bankruptcies do an ok job to make it quick becaise thousands of jobs are on the line.


Ain't know one going to finance an airline.
 
2020-04-26 8:48:33 PM  
When you see some things up for sale, sometimes you should be wondering why it's up for sale. Airlines are the $100 '85 Ford Bronco of businesses.
 
2020-04-27 12:22:28 AM  

TedCruz'sCrazyDad: AsparagusFTW: TedCruz'sCrazyDad: pkjun: This is what should happen. He asked for bailouts from Australia and got told to get bent. He asked for bailouts from the UK and got told to get bent and maybe try paying a penny in tax one of these decades. Now someone will get a chance to run the airline more responsibly, rather than riding the edge of bankruptcy on the assumption that it's fine to buy yourself another dozen private islands because Johnny Taxpayer will cover you if the market turns sour.

After watching him lose his Virgin rail contract for the UK because he tries to hardball the government on funding his workers' pensions and got told to go fark himself, this is particularly delicious.

You do realize every airline in the world will fail without a bailout?  Not just some, but every single airline?

It takes 18 - 24 months to start up an airline.

Starting up a new Boeing or Airbus would take 10 years.

I think as Johnny Taxpayer should receive 49% of all airlines receiving aid to make things fair.

You can rush thru a bankruptcy in 30 days. And still be operational.

Bankruptcy is more of just a shifting of paperwork. They get a quick infusion of cash to keep ops going, rush it through court, and have a newly "formed" company that is has a lot less debt on the other side.

At my previous job we bought out a failing competitor, from acceptence of the bid, then thru the courts, was ~27 days. Operations kept going the whole time. Courts in bankruptcies do an ok job to make it quick becaise thousands of jobs are on the line.

Ain't know one going to finance an airline.


When someone is desperate for capital, they will take a lowball offer.
 
2020-04-27 2:34:42 AM  

TedCruz'sCrazyDad: pkjun: This is what should happen. He asked for bailouts from Australia and got told to get bent. He asked for bailouts from the UK and got told to get bent and maybe try paying a penny in tax one of these decades. Now someone will get a chance to run the airline more responsibly, rather than riding the edge of bankruptcy on the assumption that it's fine to buy yourself another dozen private islands because Johnny Taxpayer will cover you if the market turns sour.

After watching him lose his Virgin rail contract for the UK because he tries to hardball the government on funding his workers' pensions and got told to go fark himself, this is particularly delicious.

You do realize every airline in the world will fail without a bailout?  Not just some, but every single airline?

It takes 18 - 24 months to start up an airline.

Starting up a new Boeing or Airbus would take 10 years.

I think as Johnny Taxpayer should receive 49% of all airlines receiving aid to make things fair.


Maybe airlines aren't worth as much as investors thought they were. Maybe the economy can't actually support five hundred different airlines shuttling business travellers across continents for "essential" meetings that could have been Zoom calls, gap-year kids floating around, and drunk stag-do partygoers that flew 600 miles to get hammered in a pub that looks just like the one half a mile from their house.

Because if it's in no billionaire's financial interest to pick up an airline for $1 and then keep it on life support for a year or so before restarting business as usual, that doesn't tell me "wow we better dump public funds into these." That tells me, "wow, guess that airline isn't actually a thing we need to have around." If your business model is only profitable for investors if you take the profits but someone else needs to step in to take the losses on the chin, you don't have a business model, you have a grift. You have a scam.

If you think we need that many airlines, all right, sure. But why stop at 49%? Why give a controlling interest to the people who have demonstrated they haven't been able to go a decade without needing bailouts ever since deregulation? Nationalise 'em entirely. If they're a public necessity, why shouldn't they be run in the public interest?

/Aircraft manufacturers are a different question
//There's a national security interest in having that institutional knowledge and manufacturing output around
 
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