I was watching something on tv about Qantas losing money and they say the restrictions on foreign ownership would solve this and the reason Virgin are doing better is because they are backed by overseas money.

These guys are cracked, selling off the company will not make it profitable, the only time this will ever work is if a company needs funds to expand to make more profit, if Virgin are profitable maybe they should look at the reasons why or come up with a better solution than sacking people.

They want to sack 1000 people, not sure what the average wage is but lets say 75k that's $75mil they say, well they are down $200 mil in the first quarter so they are looking at a $800mil loss this FY so less than 10% due to wages. i think they need to start looking for the problems not a quick solution that won't solve the problems for them, selling part of the company will do nothing to help them.

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