Air Australia!
Join Date: Apr 2008
Location: Australia
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Join Date: Aug 2011
Location: Brisbane
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The start-up again came under the spotlight this week after the release of accounts showing its losses widened from $2.1m in 2008-09 to
$9.3m last financial year and that it was cashflow positive only because of a $6m loan from the charter business.
The accounts, which also identified an $11.4m net asset deficiency, were accompanied by an auditor's warning of "material uncertainty which may cast significant doubt about the company's ability to continue as a going concern".
| The Australian
$9.3m last financial year and that it was cashflow positive only because of a $6m loan from the charter business.The accounts, which also identified an $11.4m net asset deficiency, were accompanied by an auditor's warning of "material uncertainty which may cast significant doubt about the company's ability to continue as a going concern".
| The Australian
Join Date: Nov 1999
Location: The Land Downunder
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Not gutsy, stupid. Why take a moderately well performing charter business and saddle that with a tiny 'low cost' start up in a market that is already saturated with airlines that have very very deep pockets.
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Maybe they ARE being underwritten by Woolies 
you'll be buying new cars at the same time as your bag of spuds next.
you'll be buying new cars at the same time as your bag of spuds next.
Last edited by jas24zzk; 3rd Nov 2011 at 09:48.
I heard Branson is somehow backing it???? Got this from a travel company manager in Thailand.
But I really think SRB has enough on his plate with VS