Virgin reducing capacity across the Tasman https://www.stuff.co.nz/business/ind...d-chirstchurch
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Virgin reducing capacity across the Tasman https://www.stuff.co.nz/business/ind...d-chirstchurch
Airlines doing it tough this part of the world ...at least Virgin
Wonder if AIR will reduce guidance further?
https://www.businessnewsaus.com.au/a...ebd3bf4ce1f3a6
Yeah, NAH.
"Over the last few years Virgin has struggled to turn a profit, recording a $653.3 million loss after tax in 2018, a $185.8 million loss in 2017, and a $224.7 million loss in 2016".
Chris Luxon was so right to ditch this dog. Talk about a perennial under-performer and some of those years with very low fuel prices and other airlines making record profits. The previous CEO was completely inept and grossly overpaid and needed to go many years ago. Only one person on the board had the gonads to stand up and say what needed to be said and the other board members were wimps. He departed a little while back, finally but now there are all the failed legacy issues to deal with that'll be years in the clean-up. Snow Leopard is very welcome to this mongrel of a mutt.
This bird (pup) will never fly but we can't call it a Kiwi can we lol
So it’s going to be the Boing planes
https://www.reuters.com/article/us-a...-idUSKCN1SQ03U
http://nzx-prod-s7fsd7f98s.s3-websit...012/300456.pdf
Latest stat's and fuel hedge look okay to me.
Forecast fuel consumption for FY20 is 9.6m U.S. barrels which at 42 gallons each is 403.2m U.S. gallons of fuel forecast to be burned and at 3.78 litres per US gallon is $1.524 Billion liters of jet fuel.
Crikey, No wonder fuel cost is important !
Always a worry when a company publicly says they’ve got external consultants in to sort out their business ....esp when they mention words like “business realignment”. Implication is that they don’t know what they’re doing.
But then when you are seeing profits sinking to 5 year lows suppose you need to do something drastic
https://www.nzherald.co.nz/business/...ectid=12224620
https://www.nzherald.co.nz/business/...ectid=12234014
Well at least it is now been confirmed publicly that the new aircraft order will be announced on Monday.