VA Weighs Sale After Receiving Interest
04-04-2016, 04:18 AM
#451
Gets Weekends Off
Joined APC: Aug 2011
Posts: 171
I know we pilots think very highly of ourselves and how smart we are, But Alaska is about as conservative as it gets. I like to think their money guys know what they are doing.
04-04-2016, 04:43 AM
#452
Gets Weekends Off
Joined APC: May 2010
Position: Baja Vermont
Posts: 5,196
They might be conservative, but this deal looks crazy--2.6 billion in cash for a money-losing LCC with a limited business plan? There's nothing AK couldn't have recreated with leased planes and some money on slots. They should have waited for Ch11 and nought it cheap. The leased planes are worth anything to AK, no Buses in their fleet and they are devoted Boeing buyers.
GF
GF
04-04-2016, 05:32 AM
#453
Gets Weekends Off
Joined APC: Mar 2006
Position: guppy CA
Posts: 5,171
This feels like AOL/Time Warner or Sprint/Nextel.
04-04-2016, 05:44 AM
#454
Gets Weekends Off
Joined APC: Dec 2008
Position: Left,Right, Left, Right,Right,Left, Right, Left
Posts: 3,150
They might be conservative, but this deal looks crazy--2.6 billion in cash for a money-losing LCC with a limited business plan? There's nothing AK couldn't have recreated with leased planes and some money on slots. They should have waited for Ch11 and nought it cheap. The leased planes are worth anything to AK, no Buses in their fleet and they are devoted Boeing buyers.
GF
GF
04-04-2016, 06:03 AM
#455
Gets Weekends Off
Joined APC: Jan 2010
Position: Representing the REAL Delta
Posts: 857
They might be conservative, but this deal looks crazy--2.6 billion in cash for a money-losing LCC with a limited business plan? There's nothing AK couldn't have recreated with leased planes and some money on slots. They should have waited for Ch11 and nought it cheap. The leased planes are worth anything to AK, no Buses in their fleet and they are devoted Boeing buyers.
GF
GF
04-04-2016, 06:13 AM
#456
Banned
Joined APC: Feb 2009
Posts: 1,445
From the B6 CEO:
Update on Virgin America Speculation
Dear Crewmembers –
There’s been a lot of speculation and chatter over the past couple weeks regarding a sale of Virgin America and our possible involvement in the deal. As a publicly traded company, we operate under strict regulations and internal policies about what we can and cannot say, which is why we’ve had to hold back from commenting on this issue.
Today Virgin America announced they’ve agreed to be acquired by Alaska Air Group and I can now confirm that we did, in fact, explore this potential opportunity as a way to quickly build a larger West Coast presence.
*
Our strategic plan has successfully positioned our company as one the fastest-growing U.S. airlines – enabled by years of focusing on reducing our debt and strengthening our balance sheet. After a careful review we felt this acquisition could have presented a unique opportunity and that we could integrate the two cultures successfully (a common reason why some mergers or acquisitions don’t succeed).
As we explored this possibility, the price reached a level where it wasn't necessary for us to pay for something we could otherwise build organically. It was clear this is a far better path for our company, our shareholders, and all of us as Crewmembers. Our confidence in our expansion plans made this deal ‘a nice to have’ rather than a ‘must have.’
As a team we are doing a tremendous job being a disruptor and a force for good in our industry. Instead of acquiring another airline to expand on the West Coast, we’ll do it organically. In fact, we are laying plans to accelerate our growth in the region to achieve the same result. Let’s continue to win by doing what makes us the country’s best airline – always being there for our Customers and inspiring humanity in the process.
Thank you for living through a couple of weeks of speculation when I know you probably felt disappointed we couldn’t provide more answers. I appreciate your professionalism in the face of such uncertainty. We move on to an exciting new chapter of organic growth!
Best wishes –********
Update on Virgin America Speculation
Dear Crewmembers –
There’s been a lot of speculation and chatter over the past couple weeks regarding a sale of Virgin America and our possible involvement in the deal. As a publicly traded company, we operate under strict regulations and internal policies about what we can and cannot say, which is why we’ve had to hold back from commenting on this issue.
Today Virgin America announced they’ve agreed to be acquired by Alaska Air Group and I can now confirm that we did, in fact, explore this potential opportunity as a way to quickly build a larger West Coast presence.
*
Our strategic plan has successfully positioned our company as one the fastest-growing U.S. airlines – enabled by years of focusing on reducing our debt and strengthening our balance sheet. After a careful review we felt this acquisition could have presented a unique opportunity and that we could integrate the two cultures successfully (a common reason why some mergers or acquisitions don’t succeed).
As we explored this possibility, the price reached a level where it wasn't necessary for us to pay for something we could otherwise build organically. It was clear this is a far better path for our company, our shareholders, and all of us as Crewmembers. Our confidence in our expansion plans made this deal ‘a nice to have’ rather than a ‘must have.’
As a team we are doing a tremendous job being a disruptor and a force for good in our industry. Instead of acquiring another airline to expand on the West Coast, we’ll do it organically. In fact, we are laying plans to accelerate our growth in the region to achieve the same result. Let’s continue to win by doing what makes us the country’s best airline – always being there for our Customers and inspiring humanity in the process.
Thank you for living through a couple of weeks of speculation when I know you probably felt disappointed we couldn’t provide more answers. I appreciate your professionalism in the face of such uncertainty. We move on to an exciting new chapter of organic growth!
Best wishes –********
04-04-2016, 06:28 AM
#458
Gets Weekends Off
Joined APC: Sep 2012
Position: Babysitter
Posts: 975
From the B6 CEO:
Update on Virgin America Speculation
Dear Crewmembers –
There’s been a lot of speculation and chatter over the past couple weeks regarding a sale of Virgin America and our possible involvement in the deal. As a publicly traded company, we operate under strict regulations and internal policies about what we can and cannot say, which is why we’ve had to hold back from commenting on this issue.
Today Virgin America announced they’ve agreed to be acquired by Alaska Air Group and I can now confirm that we did, in fact, explore this potential opportunity as a way to quickly build a larger West Coast presence.
*
Our strategic plan has successfully positioned our company as one the fastest-growing U.S. airlines – enabled by years of focusing on reducing our debt and strengthening our balance sheet. After a careful review we felt this acquisition could have presented a unique opportunity and that we could integrate the two cultures successfully (a common reason why some mergers or acquisitions don’t succeed).
As we explored this possibility, the price reached a level where it wasn't necessary for us to pay for something we could otherwise build organically. It was clear this is a far better path for our company, our shareholders, and all of us as Crewmembers. Our confidence in our expansion plans made this deal ‘a nice to have’ rather than a ‘must have.’
As a team we are doing a tremendous job being a disruptor and a force for good in our industry. Instead of acquiring another airline to expand on the West Coast, we’ll do it organically. In fact, we are laying plans to accelerate our growth in the region to achieve the same result. Let’s continue to win by doing what makes us the country’s best airline – always being there for our Customers and inspiring humanity in the process.
Thank you for living through a couple of weeks of speculation when I know you probably felt disappointed we couldn’t provide more answers. I appreciate your professionalism in the face of such uncertainty. We move on to an exciting new chapter of organic growth!
Best wishes –********
Update on Virgin America Speculation
Dear Crewmembers –
There’s been a lot of speculation and chatter over the past couple weeks regarding a sale of Virgin America and our possible involvement in the deal. As a publicly traded company, we operate under strict regulations and internal policies about what we can and cannot say, which is why we’ve had to hold back from commenting on this issue.
Today Virgin America announced they’ve agreed to be acquired by Alaska Air Group and I can now confirm that we did, in fact, explore this potential opportunity as a way to quickly build a larger West Coast presence.
*
Our strategic plan has successfully positioned our company as one the fastest-growing U.S. airlines – enabled by years of focusing on reducing our debt and strengthening our balance sheet. After a careful review we felt this acquisition could have presented a unique opportunity and that we could integrate the two cultures successfully (a common reason why some mergers or acquisitions don’t succeed).
As we explored this possibility, the price reached a level where it wasn't necessary for us to pay for something we could otherwise build organically. It was clear this is a far better path for our company, our shareholders, and all of us as Crewmembers. Our confidence in our expansion plans made this deal ‘a nice to have’ rather than a ‘must have.’
As a team we are doing a tremendous job being a disruptor and a force for good in our industry. Instead of acquiring another airline to expand on the West Coast, we’ll do it organically. In fact, we are laying plans to accelerate our growth in the region to achieve the same result. Let’s continue to win by doing what makes us the country’s best airline – always being there for our Customers and inspiring humanity in the process.
Thank you for living through a couple of weeks of speculation when I know you probably felt disappointed we couldn’t provide more answers. I appreciate your professionalism in the face of such uncertainty. We move on to an exciting new chapter of organic growth!
Best wishes –********
04-04-2016, 06:37 AM
#460
Line Holder
Joined APC: Mar 2008
Position: Gear Thrower
Posts: 79
While I am glad jetBlue did walk away from the table and keep from paying too much, I think this is going to spark the next rounds of mergers and acquisitions in the airline industry. As a jetBlue guy this concerns me because I look around at who is left and I think we become the purchased airline.... I fear for a Southwest take over..... How would we merge those two lists? SWAPA v. ALPA ver 2.0.... I have a career expectation to sit in the left seat make over $200k and not fly 5-6 legs a day within the next 2 years. If SWA were to buy us I would never see the left seat and our list would stagnate horribly.... Just some food for thought. The other thing is in a year or two conditions politically are favorable and United or Delta are allowed to purchase someone and catch up to AA in size. In JB CEO message he did elude to organic growth and I think if that accelerates some we help ourselves out position wise in the long run to prevent a take over and keep our market share and maybe gain a little.
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