origin freight profitable??
If the freight business is so profitable - how come they owe QANTAS $600,000 (according to the newspapers)? We still have not heard what happened to ticket money that was supposed to be held in a trust account until the pax actually flew. RI is full of rhetoric, but very quiet on the lack of prudent management over the last few years - everyone else is to blame rather than Origin itself. Great editorial in the latest NZ Wings summarizing the Origin position.
QUOTE=SURFS UP;2850629]Correct me if I'm wrong but I thought that the freight business was run under a seperate company than the passenger business. If so, and if it is that simple, then maybe they would have kept going with their "profitable freight business".
The question is: Why didn't they?
1) Maybe legally the businesses are not fully seperate, or
2) Perhaps RI does have a conscience and was actually trying to do what he said i,e make some money from the sale of the freight business to pay the creditors of the passenger business.
If the passenger business is completely seperate from the freight, everyone knows that the same man is behind both companies so to continue with the freight business, in anyones books, would be stupid considering the amount of creditors that are owed money.[/QUOTE]