Virgin ceases International ops and 50% dom reductions

[MarkR]

Temporary suspension of all international services from 30 March to 14 June 2020 inclusive.
• Melbourne to Los Angeles services suspended from 20 March.
• Inaugural Brisbane to Haneda service, postponed from 29 March.
• Inaugural Melbourne to Denpasar service, postponed from 29 March.
Virgin Australia will operate a reduced international schedule between now and 29 March 2020 “

Domestic changes
In response to weakened demand, the Group will reduce domestic capacity by around 50 per cent until 14 June 2020. This includes the grounding of twenty Boeing 737, six A320, two ATR and five Airbus A330 aircraft from the Group’s domestic fleet.
The route and schedule detail of these changes across Virgin Australia and Tigerair Australia is currently being worked through and will be published over the next week.

https://www.asx.com.au/asxpdf/202003...0mqnxbwm69.pdf

[David C]

This could quite easily send VA into history . They are in a very perilous financial situation even before this happened .

[MarkR]

Originally Posted by David C

This could quite easily send VA into history . They are in a very perilous financial situation even before this happened .

I wouldn’t say $1b cash in the bank was perilous, especially as this reduction in ops significantly reduces their costs.

[David C]

I sincerely hope that VA pull through and we see them operating for a long time , however , a $314.5 million loss for the FY19 is hardly a healthy economic position to find itself in . Time will tell , as I say , I wish them all the best .

[MarkR]

Virgin have announced domestic ops will be reduced to one passenger route SYD-MEL and have released details of international ops:

As a major Australian carrier we are pleased to support the Government in getting Australians home and maintaining important freight links into the country. For a limited period, we will be operating one return flight per week between Los Angeles and Brisbane, and two return flights per week between Hong Kong and Brisbane. These flights can be purchased through our website.

Flight Days of operation Timing (local time zone) Operating period One-way all inclusive fares
BNE - HKG Mon, Fri
Depart 1000

Arrive 1700

From Fri 10 April to 1 May 2020 AUD $625*
HKG - BNE Tue, Sat
Depart 0900

Arrive 2010

From Sat 11 April to 2 May 2020 HKD $2,983*
BNE - LAX Wed
Depart 1105

Arrive 0710

From Wed 8 April to 29 April 2020 AUD $855*
LAX - BNE Thu
Depart 1115

Arrive 1815

From Thu 9 April to 3 May 2020 USD $475*

[Radi K]

Virgin is flying a 777 on charter tomorrow BNE-AKL-HKG-CDG
Then it will fly back empty from Paris to Brisbane next week! French government charter.

Also some other 777 charters to/from HKG and MEL/SYD.

[Robbie J]

Should for-profit companies be given government bailouts?

Is the JobKeeper payment from the government enough assistance already, as it assists staff with their on-going cost of living expenses until this mess is sorted and solved?

Exec's awarding themselves generous multi-million dollar annual salary packages and then "crying poor" rarely passes the BS Test for me... although I notice Alan Joyce has honourably opted not to take a salary at this point.

[Greg McDonald]

The job keeper package looks like it won't be paid until May then backpaid...I fail to see how this will help anyone who is struggling with expenses.

There is also most definitely NOTHING honorable with Joyce......

[MarkR]

Originally Posted by Radi K

Virgin is flying a 777 on charter tomorrow BNE-AKL-HKG-CDG
Then it will fly back empty from Paris to Brisbane next week! French government charter.

Also some other 777 charters to/from HKG and MEL/SYD.

I don’t think that charter happened, I not there is a 777 heading to HKG ex MEL at present

[Tim Bowrey]

Originally Posted by MarkR

I don’t think that charter happened, I not there is a 777 heading to HKG ex MEL at present

VH-VPD just leaving AKL now heading to HKG and VH-VOZ enroute MEL-HKG same time.