Kaptin M
Quite so.
FT
I'll bite, so FLEW don't make the deadline but say, as they have been for months, we are close, cuppla days.
2 Marks don't have ANY option but to shut down and call their bluff. Just a business decision you realise, as a 'cuppla days' more exposure will certainly take out what's left, if any, of their personal fortunes, houses and any lose change laying around.
[quote] HOWEVER, CEASING OPERATIONS DOES NOT NECESSARILY MEAN TESNA WILL NOT PURCHASE THE AIRLINE. <hr></blockquote>
So what happens to those brave and optimistic souls who in the meantime are booked and expecting to fly.
I think it would be fair to say that they would be less than impressed and you could kiss goodbye to whatever goodwill that there may have been left for the Ansett brand.
Lets see we are come down from saving over 4,000 jobs in a $1.2 billion deal to less than 3,000 (no one knows how many actual full time jobs there are actually in there), 1500 of which they were prepared to toss out if they could have got Richard to take the fall for them, and the creditors have tipped in a further $40 million in addition to whatever has been ripped up since Sept 13.
[quote] The business call made by the administrators was simple - could they raise more money by liquidating the airline immediately, or by a selling and then deducting the losses of continuing operations? They chose the latter, in a move describe to me by an insider as "the gutsiest decision I've ever seen by an administrator". <hr></blockquote>
Quite so, but you didn't answer the obvious question. What if they got it wrong, the ACTU as proxy holder will have some explaining to do I guess.
"gutsiest decision"?? Sir Humphrey would have used "courageous", my insider friends, have a much more colourful and much more direct description.
Mind you the administrators are in so deep now without any other options than perhaps Lang, that FLEW have nothing to lose by playing them to the death.
In the meantime there are 15,000 staff and a cavalcade of creditors who are not going to be happy, whether they close the sale or not the 5c is gone and they are learning what a mouth full of feathers tastes like.
And another thing they spent the last x many months in court getting approval for this and orders for that and as recently in the last few days chasing deadlines seeking final approval for the completion.. .Now we are told that they can complete the sale without the courts approval.
Can someone explain to this simple soul what that actually means? Or is the answer that "this is big kids stuff that you wouldn't understand".
You're damnn tooting I dont.
Personally I don't care one way or the other what games they play with their own money, but I care deeply about the staff who got screwed over first by their employers and are getting screwed over again by the very people who claim to be saving them.
FT I'll modify your bet a little, I'll run around the MCG (not naked we don't want to frighten the kiddies now do we) with a dunces hat on, covered in feathers carrying a sign saying FLEW and the 2 Marks are heroes, if they are flying as TESNA ANSETT after midnight on the 28th and they are still there to fly me there as their guest for the Grand Final.
