Gaunty, "If it looks like a duck, walks like a duck, and quacks like a duck; I think that it is a duck." Don't try to smooth over your obvious anti-Ansett sentiments with warm platitudes. I believe we can see from wince you come. Let me hit you with some cold hard facts that so many of you can't seem to get into your obvious financial wizard brains. $800MM net BOOK VALUE assets, $750MM employee entitlement liabilities. Unless you have been practicing your loaves and fishes act; don't think there is much for the rest of the creditors. Without the Ansett AOC, any new airline emerging from the ashes would have years to get back up running. The wonderful real estate that you think will be sold off will not have a lot of value without an operating airline using the terminals. Sorta' like the Hindmarsh Island resort without the bridge.
If you think that the money received from the real estate is the game, I would say that you and your Financial Review guru have misunderstood the real payoff badly. If one half of Virgin Blue is worth $300MM without assets, what do you think a float of Ansett in 3 years time will be worth with those assets still in place. THAT my friend is the GAME.
I, for one, do not want you to give me a fish for tonight's dinner. Teach me to fish so that I can feed my family in the future.