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Old 24th Mar 2016, 20:34
  #8 (permalink)  
chance
 
Join Date: Nov 2008
Location: australia
Posts: 75
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Unhappy

A very sad day indeed. There will be many internal and external factors behind it. Internally senior management have wasted the cash on fantasies and the Board of Directors don't seem to have been up to the job to set the right direction and have adequate corporate governance over the CEO et al. Externally, Griffith University splitting the contract between RQAC/Airline Academy and Basair placed both companies at risk. I have heard that GU will go back to a single provider when the new contract is awarded in recognition that multiple providers cannot make enough out of the price that GU has screwed down with the smaller numbers.
RQAC can be sold by the Administrators as a going concern but it will depend on how the books/accounts unfold. Keep an eye out for the likes of Wagners from Wellcamp or the Qld Govt owned Aviation Australia who have been itching to get into flying training for years. Both lots and perhaps there will be others will get a technically sound organisation, with a well presented fleet and great systems for a song. The sharks are circling!
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