Virgin Australia’s board placed the airline into administration after the government rejected a final hour plea for a grant to keep it afloat for an extra couple of weeks.
The Morrison government has remained firm on its stance to not bail out the company, hoping a private entity will rescue the airline instead. Mr Bolt discussed the issue with The Australian’s Economics Editor Adam Creighton who said, “it's a tough decision, but I think on balance the government's got this right". Image: Getty
Good. Tell Branson to pound sand
Singapore has hundreds of thousands of workers from Bangladesh, India and other countries living 10 to 20 people to one room. They climb into packed vans on their way to build the city’s gleaming office towers and condominiums.
Government know what companies do, what directors and owners of the companies do, when companies have financial difficulties. Virgin was having financial difficulties for quite a while. Despicable Virgin actually tried to get money from the Australian tax payers before running.
Singapore has hundreds of thousands of workers from Bangladesh, India and other countries living 10 to 20 people to one room. They climb into packed vans on their way to build the city’s gleaming office towers and condominiums. Greed causes Singapore's 2nd lockdown extension
What is wise is that scomo bailed out Qantas another foreign owned airline. So where is the double standard.
I would be pissed off If the government bailed out Virgin. Every dollar that is spent will have to be paid back and as a tax paying Aussie is rather see my tax dollars go to help Aussies' not propping up international multi-millionaires. Job losses are the norm these days
Andrew bolt is a d***head
Andrew Bolt is the most qualified and experienced expert in everything is why Aussies should agree with his wise and profound opinions and commentary for making stuff betterer and gooder and stuff.
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Foreign shareholders 'responsible' for Virgin Australia: Cormann | Sky News AustraliaFinance Minister Mathias Cormann says Virgin Australia's 'substantial foreign shareholders' had 'the first responsibility' to bail out the airline. \n\nMr Cormann said the government wished to 'continue to see two airlines in Australia' but believed the government had provided substantial support 'on an economy-wide or sector-wide basis'.\n\n'There is a clear public interest to have competition in the aviation sector,' he said. \n\n'Administration offers an opportunity to deal with the challenges Virgin had been dealing with since before the COVID-19 pandemic.'\n\nImage: Getty\n\n\n MathiasCormann Same here. USA, Holland, France. Its not up to us to bail parasite Branson out. MathiasCormann They set the standard with GM. A bail out was never going to happen. MathiasCormann But if they don’t then the airline should be restructured and recapitalised as a majority government owned airline to ensure that rapacious Qantas has effective competition. Most Australians would see that this is a time when ideology has to be set aside.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Govt in 'risky' game of chicken with Virgin Australia | Sky News AustraliaThe government is playing a high “political risk” game of chicken with Virgin, according to Sky News Political Editor Andrew Clennell. \n\nVirgin Australia on Tuesday entered voluntary administration, putting 16,000 jobs and Australia’s two airline aviation system at risk. \n\nThe government previously rejected a $1.4 billion bailout proposal and on Monday evening knocked back a request for a $100 million grant to keep the company afloat for an additional couple of weeks. \n\nMr Clennell said the government was taking a gamble. \n\n“It does seem a bit of a trend for the government to want to do more for small and medium businesses than for big business. \n\n“I don’t know how it will be received if there is no buyer. If there ends up being a buyer down the track then its all good. The government will be proven to do the right thing. \n\n'They might have some political concerns around it if the thing just goes under completely.' aclennell The “gamble” will emerge after the administrators have reorganised/removed Virgin’s 5b in debt. If they’re unable to find investors then the government would be gambling. At the moment it seems this outcome is the most responsible. aclennell This airline is foreign owned aclennell
Source: SkyNewsAust - 🏆 7. / 78 Read more »
NSW government negotiates with Virgin to relocate HQ to Sydney: Treasurer | Sky News AustraliaSky News host Sharri Markson has revealed NSW Treasurer Dominic Perrottet is in negotiations with Virgin Australia regarding “financial support” but the airline would “have to have the HQ of both Virgin and Tiger at the Western Sydney Airport site”.\n\nMr Perrottet told Sky News exclusively he has raised the possibility of Virgin moving its headquarters to the new aerotropolis facility at the new airport and it is “obviously part of the discussions we are having at the moment” regarding a potential bailout.\n\nThe Queensland Government have announced it would hand the airline $200 million in a bid to boost and maintain competition in Australia’s airline industry.\n\n“Virgin should have their headquarters for both Virgin and Tiger in Sydney,” Mr Perrottet said.\n\n“I’m always open for businesses right across the country to relocate to New South Wales and create jobs here in our state”.\n\nImage: Getty If the NSW government wants to commit treason like the Queensland government then they should go ahead. Nothing like bailing out foreign owned corporations in exchange for business deals while your constituents lose their livelihoods. If the NSW Government has hundreds of millions dollars spare to bale out a foreign airline why cant they feed and house thousands of people who are homeless in NSW. Dominic Perrottet in negotiations or Alan Joyce....are we going to have Virgin terminals at Mascot or are the poor people being encouraged to slog it to western Sydney on a bus
Source: SkyNewsAust - 🏆 7. / 78 Read more »