Virgin Atlantic Files for Bankruptcy

Just looking for a link now, but looks like VA is looking to protect itself from creditors!

Doubt it will fold, but if it does, could the the first of many

Edit: found one!

I wonder if Delta will honour my Virgin air miles flights I should have taken to Vegas on Friday last week? I should have landed in Nassau today before going to a lovely island in the Bahamas for 10 days, after which I was flying back with Virgin, or was it Delta....................... Oh well. That will be then end of them then
 
I don't know what a bailout will accomplish - people aren't flying, there's massive over-capacity because of that; is Virgin a strategic national asset? Or, when Covid subsides, will new players start from scratch?

Off topic a bit but today I had to travel from South Wales to Essex. I did the journey on train, with a swing through London at midday. I was taken aback - there were so few passengers on all the trains I took, the railways must be countless millions in debt. Put another way, a ten carriage train with four persons per carriage = disaster for thr TOC.
And London - well, Jesus, it was (compared to a pre-Covid weekday) deserted. The City was like a Sunday. Empty offices, closed businesses. I knew it was bad but seeing it was a genuine shock/sadness. The economy is tanking - the only mitigation is that so is that of most over states.
 
I don't know what a bailout will accomplish - people aren't flying, there's massive over-capacity because of that; is Virgin a strategic national asset? Or, when Covid subsides, will new players start from scratch?

Off topic a bit but today I had to travel from South Wales to Essex. I did the journey on train, with a swing through London at midday. I was taken aback - there were so few passengers on all the trains I took, the railways must be countless millions in debt. Put another way, a ten carriage train with four persons per carriage = disaster for thr TOC.
And London - well, Jesus, it was (compared to a pre-Covid weekday) deserted. The City was like a Sunday. Empty offices, closed businesses. I knew it was bad but seeing it was a genuine shock/sadness. The economy is tanking - the only mitigation is that so is that of most over states.
My bold

New? Yes, should be. Not familiar with Ch.15. Most go into Ch.11, bit like UK's Administration

Train operators have effectively been nationalised by Boris

London/UK closed, Holland open
Postcard From the Hague

Boris, Hancock etc a bunch of useless innumerate bed-wetters
 
My bold

New? Yes, should be. Not familiar with Ch.15. Most go into Ch.11, bit like UK's Administration

Train operators have effectively been nationalised by Boris

London/UK closed, Holland open
Postcard From the Hague

Boris, Hancock etc a bunch of useless innumerate bed-wetters
A problem is, those calling the shots have govt paychecks. I do myself but I appreciate that, even locally, business is being devastated and if economic activity is greatly reduced, the country is effed.

I recently heard that a large state-funded body assumed that fewer than 60% of their staff would work from an office, in future. The impact of that on the cities and towns which host offices was apparently an afterthought.
 
Last edited:
My attitude towards the government has changed. I thought they were doing the best they could under very trying and constantly changing circumstances that had no precedent. They've lost the plot. How you can dangle discount restaurant meals in front of punters to encourage a kick start, and restrict family gatherings at the same time is not just sending out mixed messages, but is batshit mental. Anything involving Joe Public has to be explained in crayon. No wonder people don't know whether to have a shit or a haircut.

Winter is coming. Then what? It's obviously not going away. We either crack on, accept the casualties as the new norm and let nature take its course, or accept the fact that the game is over and watch modern society go the full chimp.
 

Wordsmith

LE
Book Reviewer
The whole thing should be a wake up call for the government. Add in the other job losses announced today and they've got no choice now; they're going to have to take a deep breath and accept a higher level of Covid 19 deaths.

Because the alternative is to watch the economy collapse.

Wordsmith
 
Not that long ago - still within living memory - we sent thousands of men out night after night to visit destruction upon an enemy. Their losses were the acceptable cost of preserving our way of life. Our way of life is now being sacrificed to prevent losses. The needs of the few now outweigh the needs of the many.
 
My bold

New? Yes, should be. Not familiar with Ch.15. Most go into Ch.11, bit like UK's Administration

Train operators have effectively been nationalised by Boris

London/UK closed, Holland open
Postcard From the Hague

Boris, Hancock etc a bunch of useless innumerate bed-wetters
Chapter 15 is cross boarder. It protects a multi-national from its US creditors whilst it manages its solvency / insolvency in its home / a third country.

If the company doesn’t resolve its insolvency, proceedings in the US can move to Chapter 11 and subsequently to Chapter 7.

Chapter 11 is quite different from UK insolvency; it protects a company from its creditors whilst it sorts its solvency out. The company manages the process. Administration takes over the running of the company.
 
A problem is, those calling the shots have govt paychecks. I do myself but I appreciate that, even locally, business is being devastated and if economic activity is greatly reduced, the country is effed.

I recently heard that a large state-funded body assumed that fewer than 60% of their staff would work from an office, in future. The impact of that on the cities and towns which host offices was apparently an afterthought.
Our accountants have picked up on a very interesting point, with so many working from home (and thinking that they are saving fortunes) there are a number of companies starting to look at the salaries for people that normally work in London and travel in, their salaries are based on those facts and reflect that, many are now starting to say that if they want to work from home in the long term then their salaries will be adjusted accordingly, they aren't willing to pay someone who lives say in Southend and commutes in, London salaries, they will pay what the job pays if it was located in their areas in the light of the huge savings they are making, many say they aren't willing to subsidies their salaries in this manner
 
"Tax Trouble"

On claims that Branson does not pay U.K. income and capital gains tax on his investment success, Branson uses the letter to address, “comments about my home.” Adding, “Joan and I did not leave Britain for tax reasons but for our love of the beautiful British Virgin Islands and in particular Necker Island, which I bought when I was 29 years old, as an uninhabited island on the edges of the BVI. Over time, we built our family home here. The rest of the island is run as a business, which employs 175 people. As with other Virgin assets, our team will raise as much money against the island as possible to save as many jobs as possible around the Group.”


 
Good
 
Just looking for a link now, but looks like VA is looking to protect itself from creditors!

Doubt it will fold, but if it does, could the the first of many

Edit: found one!

Such a shame. I hope his empire falls around him. The non tax paying, telling us to vote remain..... Not NAAFI so I will stop there
 
A problem is, those calling the shots have govt paychecks. I do myself but I appreciate that, even locally, business is being devastated and if economic activity is greatly reduced, the country is effed.

I recently heard that a large state-funded body assumed that fewer than 60% of their staff would work from an office, in future. The impact of that on the cities and towns which host offices was apparently an afterthought.
Office blocks become homes?
 
"Tax Trouble"

On claims that Branson does not pay U.K. income and capital gains tax on his investment success, Branson uses the letter to address, “comments about my home.” Adding, “Joan and I did not leave Britain for tax reasons but for our love of the beautiful British Virgin Islands and in particular Necker Island, which I bought when I was 29 years old, as an uninhabited island on the edges of the BVI. Over time, we built our family home here. The rest of the island is run as a business, which employs 175 people. As with other Virgin assets, our team will raise as much money against the island as possible to save as many jobs as possible around the Group.”


Didn't he demand UK money to fix up his island after a bit of rain?
 
Just give him all the tax back he has paid in the UK.
 
My attitude towards the government has changed. I thought they were doing the best they could under very trying and constantly changing circumstances that had no precedent. They've lost the plot. How you can dangle discount restaurant meals in front of punters to encourage a kick start, and restrict family gatherings at the same time is not just sending out mixed messages, but is batshit mental. Anything involving Joe Public has to be explained in crayon. No wonder people don't know whether to have a shit or a haircut.

Winter is coming. Then what? It's obviously not going away. We either crack on, accept the casualties as the new norm and let nature take its course, or accept the fact that the game is over and watch modern society go the full chimp.
where I think we are heading is both
 

Latest Threads

Top