$250 Million In Outside Financing To Exit Bk

[nycbusdriver]

(Will somebody please get the word out that it's "Virgin America," and not "Virgin US" or "Virgin USA.")

I understand that the pinheads in the media will never stop calling USAirways "USAir," but Virgin America hasn't even opened its doors yet and they have it consistently wrong. And then whoever started this thread just went right along with the error.

I think Sir Richard will LOVE Seth, BTW. Look at the nitwit, Shawn, that he picked to win his "Rebel Billionaire" contest...could have been Seth's cousin (Seth has better hair, though.) One of the prizes the terminally arrogant Shawn won was an opportunity to head up a Virgin Group subsidiary. Could it be Virgin America? If so, I will withdraw my application.

 

[madders]

I bet RSA Bonner will put in the other 250

 

[FWAAA]

I bet RSA Bonner will put in the other 250

[post="244843"][/post]​

Like the saying goes, a fool and his money are soon parted . . .

There's throwing good money after bad, and then there's just plane insanity. I sincerely doubt Bronner would invest another dime. If he does, the good people of Alabama might want to remove him from leading the RSA.

 

[funguy2]

As if a piddly $250 million credit facility is gonna bankroll this company? If that's management's goal, prepare for Ch 33 by October.

[post="244625"][/post]​

Speaking of which... Anyone know how the three-strike rule for BK works? It is my understanding that there is now a three-strike rule. I guess my question is do you get to go Chapter 11 Reorganization on your third try, or is it a forced Chapter 7 Liquidation?

Like I said, I've heard of a three-strike rule, but don't know much about it... The only thing I've heard is that previous BK's don't count, only BK's since the law was enacted... So, for example, CAL's two BK's (1983 and 1991) don't count against it. But I believe this was enacted sometime during the 90's, so US Airway's two would.

Depending on the teeth in a three-strike BK law, that gives US Airways being in "ship-shape" upon emergence another level of urgency.

 

[gso-crew]

(Will somebody please get the word out that it's "Virgin America," and not "Virgin US" or "Virgin USA.")

[post="244840"][/post]​

Branson's Virgin status is worth a fortune
By Kate Askew and Scott Rochfort
January 29, 2005

There was speculation he might be interested in selling his stake in Virgin Blue to help fund his next airline venture, Virgin USA. LINK

http://www.smh.com.au/articles/2005/01/28/1106850108588.html

 

[nycbusdriver]

Branson's Virgin status is worth a fortune
By Kate Askew and Scott Rochfort
January 29, 2005

There was speculation he might be interested in selling his stake in Virgin Blue to help fund his next airline venture, Virgin USA. LINK

http://www.smh.com.au/articles/2005/01/28/1106850108588.html

[post="244894"][/post]​

http://www.virginamerica.com/


Go to: http://www.virginusa.com/ and you get directed to the Virgin Group home site where there is NO MENTION of a subsidiary called Virgin USA. I stand by my statement that the media are pinheads. (As are the people that believe the veracity of the media simply because "I read it in the paper," or "I read it online.")

 

[gso-crew]

GOOD READ: BRANSON

"Please tell me why anyone would invest in an airline. The U.S. airline industry makes NHL hockey matches look like fifth-grade recess. It's brutal and bloody. The sad truth is an investor could get a better return starting a Subway sandwich shop than an airline."

http://www.fastcompany.com/magazine/87/branson.html

 

[nycbusdriver]

GOOD READ: BRANSON

"Please tell me why anyone would invest in an airline. The U.S. airline industry makes NHL hockey matches look like fifth-grade recess. It's brutal and bloody. The sad truth is an investor could get a better return starting a Subway sandwich shop than an airline."

http://www.fastcompany.com/magazine/87/branson.html

[post="244917"][/post]​

Your post makes it appear that the quote is Branson's. To be perfectly clear, the quote you cited is from Henry Hardevelt, a travel industry analyst at Forrester Research. And, as everyone knows, query two travel industry analysts and you'll get 3 different opinions.

 

[eolesen]

Your post makes it appear that the quote is Branson's. To be perfectly clear, the quote you cited is from Henry Hardevelt, a travel industry analyst at Forrester Research. And, as everyone knows, query two travel industry analysts and you'll get 3 different opinions.

[post="244971"][/post]​

Henry's more than just an analyst. He's an analyst who's actually worked in the industry (believe it was with TW and CO), and his comments are usually spot on.


For all the folks getting caught up in the "WN mechs make more" take a look at how few mechanics per ASM WN actually has compared to other carriers. They've outsourced a fair percentage of their heavy maintenance since the beginning.

 

[UseYourHead]

I did not know that, so we are doing what SWA has been doing all along?

Henry's more than just an analyst. He's an analyst who's actually worked in the industry (believe it was with TW and CO), and his comments are usually spot on.
For all the folks getting caught up in the "WN mechs make more" take a look at how few mechanics per ASM WN actually has compared to other carriers. They've outsourced a fair percentage of their heavy maintenance since the beginning.

[post="245294"][/post]​

 

[mweiss]

I did not know that, so we are doing what SWA has been doing all along?

[post="247183"][/post]​

Only in the simplest sense. WN may outsource a good amount of their maintenance, but they have an active relationship with their maintenance partners (an accurate term in their case).

 

[28yrsnojob]

After being in phl for 2 days last week i dont know how this airline could run another day