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Thread: OZJET update
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Old 9th September 2005 | 05:35
  #7 (permalink)  
Legal_Counsel
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Crikey

I will need to watch the time as I am doing this on my laptop and this damned battery keeps getting hot.

Anyway, look I can assure you I am not flight crew OK so relax.

However, I do see your point that it is exciting to be given a new chance. But look, you do really need to be smart.

Why is Minardi Up for sale? Because 0Z is running out of money right? It's owner has far more to gain by keeping Minardi because that is the jewel in the crown, not 0Z.

So think about it. Scenario: OZ has to be able to repay it's dutch investor. If it fails, the dutch investor exercises a lien on OZ' aircraft. These aircraft are "leased" by OZ from the UK charter operation EAL. The effect of this is it may seek to have the UK charter operation wound up. Any application for a winding up could jeopardise your entitlements as OZ would be bankrupt.

If you can afford to, take out some unemployment insurance.

As far as Star Alliance is concerned, the product, whilst important,is not sustainable in a Star Alliance market place. Any suggestion that SIA may be interested in Ozjet is wishful thinking. SIA doesn't have to lose millions when it has the political clout it just dealt Qantas.