Virgin America Latest and Greatest
05-03-2015, 08:16 AM
#1603
Line Holder
Joined APC: Oct 2009
Posts: 88
Tell me what I'm missing. You have a company whose lost just under a "Billion" dollars and just starts to make money because everybody is making money with cheap fuel and you still want to go there. What happens when fuel goes back up and your business model doesn't work as it did before. Hmmmm.
05-03-2015, 08:35 AM
#1604
Gets Weekends Off
Joined APC: Mar 2006
Position: guppy CA
Posts: 5,171
Tell me what I'm missing. You have a company whose lost just under a "Billion" dollars and just starts to make money because everybody is making money with cheap fuel and you still want to go there. What happens when fuel goes back up and your business model doesn't work as it did before. Hmmmm.
Two restructurings converted a lot of the debt to equity (stock) and all of the remaining debt can be converted to stock. The IPO eliminated more debt plus increased cash on hand.
As a comparison, their interest in 1Q2013 was $31.4 million and in 1Q2015, interest was $2.3 million. Plus, because VX was bleeding cash out of all orifices, the quarterly interest was rolled into new debt so the balance sheet continued to deteriorate.
VX still has some debt but it's manageable at the moment. And they've got a lot of cash on hand.
05-03-2015, 09:38 AM
#1605
Banned
Joined APC: Dec 2009
Position: Narrow/Left Wide/Right
Posts: 3,655
05-03-2015, 09:52 AM
#1606
Gets Weekends Off
Joined APC: Nov 2013
Position: Jet
Posts: 214
Tell me what I'm missing. You have a company whose lost just under a "Billion" dollars and just starts to make money because everybody is making money with cheap fuel and you still want to go there. What happens when fuel goes back up and your business model doesn't work as it did before. Hmmmm.
05-05-2015, 08:54 PM
#1608
Gets Weekends Off
Joined APC: Jan 2011
Posts: 784
05-06-2015, 11:07 AM
#1609
Gets Weekends Off
Joined APC: Apr 2014
Posts: 110
Most people are pretty happy here. There certainly are some disgruntled. Some are mad because they didn't get what they were promised in the IPO. Others have been in reserve for a few years. Now that things are moving again, my guess is that those who have been on reserve for a few years will hold a grudge but their QOL should improve quickly and it'll be water under the bridge (except they'll be bring their grudge out of the closet if/when we get a union and go into contract negotiations) I completely understand why they're unhappy.
That being said, most people are really happy to be here. The crews are great, the flying is fun, destinations are good/great, etc...
That being said, most people are really happy to be here. The crews are great, the flying is fun, destinations are good/great, etc...
05-06-2015, 01:16 PM
#1610
New Hire
Joined APC: Apr 2015
Position: A-320/Right
Posts: 9
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