i havent kept up with the virgin blue news for a week or so.... seems a week IS a long time.
Monday 15th june - Pacific Blue (virgin international) looks to cut costs (including its NZ route) as Qantas + other competition as well as low passenger numbers extend losses. http://www.businessday.com.au/business/pacific-blue-may-cut-nz-routes-as-loss-looms-20090612-c65b.html wed 17th june - Virgin Blue and Emirates have joined forces http://www.news.com.au/perthnow/story/0,21498,25649462-951,00.html?from=public_rss Thurs 18th - Virgin adds several new domestic destinations (inc coffs harbour, Hayman island), to coincide with its Emirates deal. http://www.coffscoastindependent.com.au/news/local/news/general/coffs-skies-open-up-to-international-travel/1544170.aspx?src=rss http://www.theaustralian.news.com.au/business/story/0,,25655595-23349,00.html?from=public_rss Mon 22nd June - Virgin confirms it will cut capacity but wont quit its NZ routes http://www.businessspectator.com.au/bs.nsf/Article/We-wont-quit-NZ-says-Virgin-Blue-chief-T8TAR?opendocument&src=rss Tue 23rd June - Seems Virgin's COO secretly quit weeks ago http://www.etravelblackboard.com/showarticle.asp?id=93812&nav=28 24th June - Macquarie Analyst suggests virgin and Air NZ should merge to reduce costs and increase competition with Qantas: http://www.bloomberg.com/apps/news?pid=20601081&sid=ahXEqV4I8U.o http://www.businessday.com.au/business/air-nzvirgin-blue-merger-touted-to-tackle-big-kangaroo-20090624-cwua.html?page=-1
Seems a merger (or a Air NZ takeover ) would be in virgins interest but at this stage there hasnt been a response from either company in regards to the comments made by the Macquarie analyst
VBA Price at posting:
27.0¢ Sentiment: LT Buy Disclosure: Held