Virgin Blue is pinning its survival and expansion plan for the recession to much less cash than originally expected in the $231 million equity raising announced this morning.
Virgin Blue
Morning Market Report: Good start to the week, market up 53
The market is up 53, and the Dow up 24.
Want a stake in Virgin Blue? It’ll cost you $231m
Virgin Blue has revealed how it will fund its survive-and-expand strategy for the recession and the expected recovery. And the search has begun for a successor to CEO Brett Godfrey.
Qantas and Virgin go to war with Tiger
Qantas and Virgin Blue are being forced into a full-scale fare war with Tiger Airways, after the The Singapore Airlines-controlled low cost announced it is more than doubling its Sydney-Melbourne flights to up to nine daily returns from 4 October.
Tips and rumours: While the PM’s away…
What have the ALP been up to while Rudd has been globetrotting? Tipsters tell all.
Air war over the Pacific and Atlantic routes
Just how far can airlines go in cooperative joint ventures, marketing alliances, or route mergers?
International carrier bloodbath: Qantas slows
International travel at the moment is a mutually destructive blood bath for carriers world-wide, with none of the major global airlines nor the two Australian flag carrier international routes expected to generate profits in the second half of this calendar year.
Morning Market Report: Wall St down
Wall St was down 34 on Friday, with metals and oil struggling.
Qantas: Big Brother or nanny jet?
The Qantas “nanny jet” syndrome struck again as all references to the Air France disaster were censored from its Channel Nine news package.
Virgin pressure on Qantas mounts
The latest traffic figures for Qantas continue to pile the pressure on to its full service domestic product, which is losing altitude steeply as Virgin Blue, its own Jetstar and Tiger all continue to grow strongly at its expense.
Qantas beware: Virgins running amok!
Virgin Blue is leading Qantas on domestic routes in the latest traffic figures posted to the ASX this morning and it is clear Qantas has to do something to stay competitive.
Jungle warfare rages with Tiger poker
High stakes poker is now being played by Qantas/Jetstar, Virgin Blue and Tiger Airways over the Tiger’s plans to develop a significant Sydney hub.
Qantas IPs linked to cyber-raid on Virgin Blue
The source of online rumours claiming Virgin Blue is going broke has been outed as almost certainly originating on a Qantas computer, writes Ben Sandilands.
Virgin’s Qantas blue over frequent flyers
Virgin Blue has come out swinging with allegations of trickery and anti-competitive behaviour by Qantas, writes Ben Sandilands.
Death by pinstripes: airlines lose their best clients
There aren’t enough masters of the universe doing the longest non-stop business commute on the planet to keep it fully alive any more, writes Ben Sandilands.
SackWatch: KPMG … CSR … Virgin Blue … Tanner
Crikey’s SackWatch is now up to its fourth installment with another huge spate of lay-offs announced in the last week, writes Andrew Crook.
Oz vs NZ: Qantas attack
While the rest of the world’s air transport market goes into shock, Qantas has gone after the struggling Air New Zealand with massive force, writes Ben Sandilands.
Newcastle’s skies safe (well, safer) thanks to federal intervention
Joel Fitzgibbon and Anthony Albanese ditched CASA’s supposedly ‘safe’ Newscastle airport arrangements overnight, writes Ben Sandilands.
QF hedges its bets
Qantas screwed down its profit forecast and flying activity to new lows this morning, but it is still the sort of bad news most other global airlines would die for, writes Ben Sandilands.
Someone tell Tiger: we’re not falling for free flights any more
Tiger Airways must be wondering what it has to do to give away free flights, or get free advertising, and its competitors will be asking themselves the same questions, writes Ben Sandilands.
AirServices memo fails to shift the blame
The crisis gripping Australian air traffic control has serious safety implications, writes Ben Sandilands.
AirServices Australia memo
CEO Direct — Service interruptionsWednesday, 30 July 2008 The environment we are operating in Over the next few days there will be further media on the issue of service interruptions, current and future staffing levels and associated issues. It is very important for the management team and I to provide you with a clear position on the […]
Tips and rumours
The Liberals aren’t happy with Jamie Briggs winning the Mayo pre-selection. He’s an outsider and not a local. Local Liberals are now worried that the seat could seriously be lost to the Greens given the retirement of Downer. Labor will pump a huge amount of money into the Greens to try and make some mileage. […]
Toll quits Virgin Blue, books $1.3 billion loss
As Toll alights from Virgin Blue, investors breathe a sign of relief despite the billion dollar losses, says Stephen Mayne.
Tips and rumours
There is a lot of tension between the AFP Commissioner Keelty and the Deputy Commisioner and the editors of The Australian regarding the child p-rn bust coverage. There’s currently an ABC tender out for refurbishment of part of their Ultimo HQ building. As well as quoting a price for the job, anyone who’s interested in […]
