Whether Australian Virgin is losing or not, Branson spends 150 million yuan a year on Virgin signs
The federal government refused to provide $1.4 billion in emergency loans to rescue australian virgin airlines (Virgin Australia), the country's second-largest carrier, yesterday morning angrily announced a voluntary winding-up on the road to bankruptcy and restructuring.
Virgin blue (Virgin Blue), which started with two jets and hundreds of employees in the ashes of agate's collapse 20 years ago, has expanded rapidly to include a number of major overseas shareholders and listed on australia's securities firm (ASX), renamed australia's second-largest airline. After becoming australia's second-biggest airline, its glossy appearance has been marked by years of losses, debt of up to 5 billion and assets worth only about $7.5. In the new crown pneumonia epidemic on the global aviation industry's heavy blow, its capital chain broken, collapsed, whether can stand up again, depends on whether the strong buyers to buy it and rational reorganization, let it regroup and continue to fly.
Despite claims yesterday that at least ten buyers have expressed their intention to buy virgin australia, there are many arguments behind its voluntary liquidation.
The federal treasury secretary said voluntary liquidation was not the end of virgin australia ," virgin australia is not agate ", the airline's president yesterday also threatened that after business restructuring and refinancing, virgin australia will survive the outbreak crisis, become more financially secure.
Australian virgin's $1.6 billion corporate bondholders worry that their interests will not be fairly protected during the liquidation.
An industry source also alleged that, as a result of agate's previous experience, australia's virgin has almost repeated the same mistake, proving that the qantas market is too small to accommodate the second largest airline except qantas (QANTAS), a single big one.
Sir richard branson (Richard Branson), the founder of virgin blue, which founded virgin blue 20 years ago and still owns 10% of virgin australia, threatened to continue to support virgin australia and scolded australian government for dying. But his virgin atlantic airline is also in trouble because of the outbreak, he threatened to sell him in tax havens, a private island in the british virgin islands to raise money to finance two airlines, he really want to sell the island can raise money, whether the two airlines can save the question. But his assets, estimated at $9.2 billion, should still be able to save as much as he can. The key is whether he wants real money.
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Some insiders point out that the federal government is reluctant to save virgin australia with taxpayer money because 90% of its shares are held abroad and should be saved by these big shareholders, although the brisbane-based airline contributes $11 billion a year to the australian economic, becoming an important part of the country's tourism industry, and employs 16000 people directly and indirectly.
Besides the Virgin Group of Branson, the other four major shareholders of Virgin Australia are Etihad Airlines (Etihad Airways) of the United Arab Emirates, Singapore Airlines, Nanshan Group of China and HNA Group of China.
Atihad airways is owned by abu dhabi, one of the emirate's constituent emirates, and abu dhabi's chief can be said to be rich in oil, because the family not only owns 23 million australian dollars, but also makes a fortune in oil. Though West Texas crude's May futures fell unprecedentedly negative the day before and closed at $37 a barrel in the Times, the family has diversified over the years and has assets in many industries around the world. Such a rich family, really want to spend money to save its 20% stake in Australian Virgin, will not be without money.
Singapore airlines, which also owns 20% of virgin australia, isn't going to be too hard to spend with several other major shareholders to help virgin weather the storm. The question is whether it feels worth doing so, that is, whether it remains optimistic about the future of Australian Virgin. Temasek, a Singapore government investment company, owns 65 per cent of Singapore Airlines. Singapore Airlines is now more concerned about how it can escape the difficulties of the epidemic.
Song Zuowen, founder of the Nanshan Group, is not very rich compared with the wealth of the Abedabi family
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