At the end of the day, it’s about the taxpayer, and it’s about Australians. Is that you can either fork out the money and pay for 10,000 or 15,000 people on the dole, or you could see an underwriting of a convertible note or a loan, which provides some equity, which then eventually the gGovernment can recoup.
So, really when you stop to think about it and get beyond the simple headlines of saying, “Is it a foreign airline?”
Even though there are tens of thousands of local jobs, is it something that government should be just providing money for?
There’s a big difference between paying people unemployment benefits and providing support which allows investors the certainty to make sure that we have two major airlines – Qantas and Virgin – with sustainable jobs, high-skilled jobs, here in Australia.
Because if we don’t rescue Virgin in some form, what will happen is that, sooner or later, a foreign airline will come in. And who knows, there could be foreign crews flying over Australian air and sky, with foreign pay and conditions.
So at the end of the day, this is about keeping skilled jobs, this is about making investments where perhaps the taxpayer doesn’t ultimately foot the entire bill.
So I think there’s a deal to be done in voluntary administration, but I tell you what, for the regions, for our tourism, for low fares, and for the taxpayer not having to pay the massive costs if tens of thousands of people just lose their jobs, I think a deal should be done. And I think it’s possible to be done.
