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Old 28 Mar 20, 11:26 AM  
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#101
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Originally Posted by stupet11 View Post
Virgin credit card would take a hit - people switching to a different reward card...so knock on effect might encourage Virgin / Branson to save the airline part...or he might see a bigger opportunity with uter airlines going bust.
Richard Branson only owns 13% of Virgin Money
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Old 28 Mar 20, 11:33 AM  
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#102
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Originally Posted by elmlea22 View Post
He has 3.5 billion, I think should put some back in before the government gives any. I would rather a small business owner get support before he does and that is from a holiday lover
It would not look at it purely as support for Richard Branson, he doesnít even own it. Employees and customers would benefit quite a bit from a support package.
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Old 28 Mar 20, 11:45 AM  
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#103
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Originally Posted by Ritz View Post
Not according to CAPA.

Most airlines will be bankrupt by the end of May.
centreforaviation/analys...ankrupt-517512
I'm taking about UK airlines not elsewhere in the world.
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Old 28 Mar 20, 11:48 AM  
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#104
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The Government has basically said only those well run and that can get some money from other sources will be likely helped. No point in trying to bail out a company that's still likely to fail. It was one of the main reason why the Government didn't bail out Flybe as they would have still collapsed.
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Old 28 Mar 20, 11:49 AM  
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#105
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Can you use virgin air miles on KLM/Delta/Air France ?
If so you would think they may transferred to there partner schemes if virgin go under ?
I canít believe that an airline like virgin would not be saved.
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Old 28 Mar 20, 11:51 AM  
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Iím due to pay my balance for virgin flights next week, will I just cancel rather than pay £2000 that I owe?
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Old 28 Mar 20, 11:53 AM  
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#107
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Originally Posted by RachaelC View Post
Atol only covers packages, so flight only, including reward flights arenít covered
Iíve a flight only booking with virgin through a TA & Iíve got an ATOL certificate. I owe a balance & not sure what to do now. Itís due in the 6th April.
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Old 28 Mar 20, 12:15 PM  
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#108
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Originally Posted by Claudette View Post
I am a senior level corporate accountant and looked at their accounts last week. My conclusion was that they will be in huge financial trouble, I donít think this is a storm in a teacup. I also looked at a small number of other airlines and definitely thought Virgin was in worst shape, but none looked good. That said, I didnít think their collapse was imminent.

Virgin
In your expert opinion is this something that's been developing over a long time, now made worse by the CV situation ? What sort of thing on their balance sheet particularly highlights their poor financial state ? (In general terms ! ).
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Old 28 Mar 20, 12:46 PM  
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Originally Posted by LOU LOU DISNEY View Post
Iíve a flight only booking with virgin through a TA & Iíve got an ATOL certificate. I owe a balance & not sure what to do now. Itís due in the 6th April.
Thatís good as flights bought directly through them wonít be covered. Did the TA package the flight with anything else?

I would see what happens next week. If you cancel you lose your deposit whereas if they fail you get your money back from Atol (although it may take a while to return). See what the situation is like nearer the 6th and, if necessary ask if you can have an extension to pay. The worst they can say is no...
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Old 28 Mar 20, 01:03 PM  
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#110
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Arenít IAGís majority holding in the Gulf, EasyJet in Monaco...

So any argument relating to a bailout and where various holdings lie is false as the Ďcompaniesí and more importantly the employees are in the UK.

Also, whilst SRB has pledged £250M, wasnít the first request for a government backed line of credit across the industry rather than a bailout. Now though isnít the share option an obvious solution similar to that used in the banking crisis?
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