View Full Version : Qantas placed in Receivership!

The Guvnor
21st Apr 2001, 12:31
Qantas New Zealand, that is...

<font face="Verdana, Arial, Helvetica" size="2">Qantas NZ in receivership, 1100 jobs in jeopardy
21 April 2001

The lives of 1100 workers are in turmoil after Qantas New Zealand was placed in receivership early this

Flights on Qantas New Zealand stopped at 10.40pm last night and receiver Michael Stiassny told NZPA this morning
that franchisor Qantas Airways, in Australia, withdrew its name after receivers were appointed at 3.25am.

Shareholders in Tasman Pacific Airlines, the owner of Qantas New Zealand, said in a statement that they were
deeply disappointed the airline had been placed in receivership.

They blamed Wellington Airport for insisting on an immediate payment of two months' in landing fees for forcing the

It is believed this amounts to about $600,000.

A Tasman Pacific spokesperson said the airline had battled difficult trading conditions in the past year as a result of
fuel price increases and the drop in the value of the New Zealand dollar.

"However, Qantas New Zealand has been steadily regaining market share and we were positive about the ongoing
viability of this airline," the spokesperson said.

"Over the past few weeks we have been investigating a range of options to keep the airline airborne, including
shareholders offering to inject more capital and negotiating agreements with suppliers."

But the spokesperson said notification yesterday by Wellington Airport that it was not prepared to allow consortium
planes to land from next Monday left it with no alternative but to advise its bankers.

"By insisting on immediate payment yesterday, Wellington Airport's action has made the receivership inevitable and
undermined the likelihood of payment for all suppliers.

"Under the consortium's proposed forward plan, all Qantas suppliers would have received payment in full had
Wellington Airport agreed."

Wellington Airport general manager of operations Graeme Ware refused to comment on Tasman Pacific's claims, but
said the company was "very sorry that what has happened has happened".

He said his staff would be working closely with Qantas New Zealand to ensure minimal disruptions to passengers.

Mr Stiassny said Qantas Airways would honour all tickets and they were working with Air New Zealand and Origin
Pacific to accommodate passengers on domestic routes.

"Tasman Pacific will not be flying again," he said.

"We are trying to establish what assets we have got and are looking at ways to realise them."

He said there was "not a lot of good news" for Qantas New Zealand staff.

"In insolvency we always try to sell it as a going concern ... here, we're looking at an asset sale. We won't be
needing the staff for the long term."

Qantas New Zealand has 1100 staff, including 140 pilots and 180 cabin crew.

Mr Stiassny said the preferential maximum due to workers was about $6000.

Receivers tried to contact the first shift staff before they started work this morning.

"I don't think it was a surprise to them at all," Mr Stiassny said.

"The company has been in some difficulty for some time and there have been a lot of rumours about."

Tasman Pacific bought the airline a year ago from Ansett.

Air New Zealand said this morning it would provide additional capacity, particularly on main trunk routes, to cope
with Qantas passengers.

It said tickets for travel on Qantas New Zealand would be accepted at face value.

Spokesman Cameron Hill said Air New Zealand would now look at how it could sustain an adequate level of air
transport services in New Zealand in the absence of the Tasman Pacific operation.

Qantas NZ pilots were among staff who were turned away when they arrived for work, the Air Line Pilots' Association
told NZPA.

Association president Keith Malloy said none of the approximately 140 affected pilots had yet been told officially the
airline had been placed in receivership.

Mr Malloy was scathing of the way Qantas NZ had handled it.

"The law should be changed to make sure that incompetent management are held accountable for these sorts of
things. They shouldn't be allowed to stuff around with good workers' jobs."

Some of the pilots were to meet today at Christchurch Airport to discuss the situation.</font>

21st Apr 2001, 12:57
Looks like another load of pilots from down under flooding the UK market.

It's not easy having an ex-empire.

Cheers, Wobs.

21st Apr 2001, 13:41
Nor was it easy Wobbly, having to support an ailing Empire. My father for one, failed to return from the flood of pilots to England in 1940.....but you wouldn't remember that.

Skip Undo
21st Apr 2001, 13:49
"Touche" Whalecapt!!!

23rd Apr 2001, 09:31
Whale - good man! Lest we forget and all that.
Wobbly made a crass statement there. Lot of Brits working away from home, anyway (I'm one of them).

Bus429 - the pilot's pal!

23rd Apr 2001, 12:29
Guvnor, I know you are a keen "cut and paster", but as I mentioned before, please please please can you tidy up the text before posting? It's damned hard to read all chopped up like that, especially with my ageing eyes. I've got to the point where when I see "Guvnor" as the poster, I know it's going to be a badly pasted up news article. Take a couple of minutes to arrange the text and make it easy for us all to read, or at least just a link to the url. Thanks.


23rd Apr 2001, 13:38

What a rediculous thing to say. These guys/gals have families with mortgages to pay off so show a little compassion.
I dare you to post the same reply in Dunnunda and Godzone.


23rd Apr 2001, 13:58

Keep the spaces GUV.
Its the solid block of row upon row that I can't stand like the AVIATOR'S, why we should get $200k or was it 200k.

don't dv8

23rd Apr 2001, 14:59
Well said whalecapt.The new generation is in place to start yelling for help from the empire when and if they need it.

23rd Apr 2001, 23:31
Who needs you? we have our european allies now

24th Apr 2001, 03:42
dv8, oh I agree, keep the proper paras but
all this sort
chopped up writing I find
pain to read.


24th Apr 2001, 04:01
Yes Airpayne you also have your own foot n mouth that Australian vets are helping you with

24th Apr 2001, 05:44
At the risk of changing the subject,you had European allies in 1939 and they didn't do you a lot of good did they?

24th Apr 2001, 07:03
a few positive comments concerning the predicament downunder would be in order,unless of course intellectural snobbery is the order of the day....kapai

24th Apr 2001, 09:35
Okay then..........

Qantas announced here (Australia) today that they have sent a B767 over to New Zealand, it will begin operating domestically tomorrow between Auckland, Wellington and Christchurch, to help move all the passengers stranded by the collapse of Qantas NZ.

They also say they are considering operating a full domestic service in New Zealand on a permanent basis, in competition with Air New Zealand, will decide by Friday.

IF they do, then hopefully they will provide employment for at least some of the ex employees of Qantas NZ.......

"I USED to be a PPRuNaholic, but now I'm CURED"

24th Apr 2001, 10:12


Qantas receivers going after consortium
24 APRIL 2001

The receivers of Qantas New Zealand say they'll do everything in their power to recover money owed by the high-profile businessmen who owned the failed airline.

The Evening Post understands that though the consortium of mostly New Zealand businessmen, with a couple of Australians, put in $42 million in capital when they bought the airline last year they had only partly paid for their shares in it. It is understood there is another $12 million still to be paid.

Receiver Grant Graham of Auckland firm Ferrier Hodgson told The Evening Post today he had not yet looked at the capital side of the business.

But he would take "whatever remedies" were available to recover all money owing.

Mr Graham said that within 48 hours he'd have a clear idea of the financial position of the airline, which went into receivership at the weekend.

Many of those in the consortium are wealthy New Zealand businessmen who appear on the NBR's annual rich list. They include Auckland businessmen Alan Gibbs, Ian Hendry, Chris Coon and Trevor Farmer, and Dunedin's Sir Clifford Skeggs.

The airline's main creditors include Mobil Oil New Zealand, which is reported to be owed about $8 million, Air New Zealand, which leased aircraft to Qantas New Zealand, and Pacific Flight Catering, which provided in-flight meals.

Mr Graham said it was still premature to comment on how much these firms were owed.

Wellington International Airport, which is two-thirds owned by listed firm Infratil and a third by Wellington City Council, is owed in excess of $750,000 in landing fees and for other services.

WIA is just one of the airport companies stung by the Qantas NZ collapse.

Meanwhile, sharemarket analysts say that even if Australian giant Qantas Airways does come into New Zealand and fly the main routes there'd still be room for another budget operator such as Richard Branson's Virgin Blue or Impulse, who've forced Qantas and Ansett Australia to cut fares across the Tasman.

There is mounting speculation that Virgin Blue is gearing up to launch a domestic service in New Zealand. However, it's understood Virgin Blue has yet to seek regulatory clearances, which could take weeks to organise.

Nelson-based regional airline Origin Pacific is also planning to start up more regional flights and may enter into an arrangement with Qantas Airways to shift passengers, particularly from international flights.

Arthur Lim, retail investment director of sharebroker JP Morgan, said Qantas Airways would have a big job building credibility with the public and the business sector here.

24th Apr 2001, 12:18
I wonder how many times idiots (and I make no apology for the emotive tag) like "wobblypilot" need to be reminded that the "flood of pilots from Dunnunda to the UK" is made up totally of British passport holders or Australians or New Zealanders - (AND Zimbabweans AND West Indians AND people from all over the rest of the world whose parents or grandparents were born in the UK) - ie, they have right of abode under laws put in place by the UK government.

Other Australians and New Zealanders without this right of abode can't work in the UK outside the under 26 temporary visa provisions - unless their skills are needed in the country and no Briton can fill the vacancy.

It might also be instructive for gentlemen like "wobblypilot" to look at the current thread on the Dunnunda page, "...Where are they now?" ( http://www.pprune.org/ubb/NonCGI/Forum12/HTML/005230.html ). The list is incomplete, but it gives details of where some 400,or about half, of the first "flood" of Australian pilots went post 1989. You'll see that very few went anywhere near England - certainly not nearly as many as the number of British pilots went to Australia to take the jobs on offer there.

Anyone who wonders why so many Australians want the the country declared a republic need only look to idiotic posts like that of "wobblypilot's" for one of many answers.

Oh, and like "whalecapt's" father and tens of thousands of others, my father wasn't asked to show a visa when he arrived in England in 1941 either.

And wasn't Keith Park, the commander of the most important RAF Fighter Group involved in the Battle of Britain battle, a Kiwi?

24th Apr 2001, 18:25
While we are on the topic of Aus/NZ troops defending the empire I should probably mention that it is officially ANZAC day here in NZ.

Lest we forget


24th Apr 2001, 23:00
Forget what. Join the modern world you colonial job snatchers

25th Apr 2001, 00:17

Totally inappropriate. The Ozzies and Kiwis were our allies in 14-18 and 39-45. The reference to ANZAC was to an occasion when we (us Brits) let them down badly and many, many "Dununders" paid with their lives.

Whatever you think about "foreigners" taking "British jobs", disrespect to the brave lads who fought alongside my father (and yours?) is not called for.

"God rest those brave lads"

A Brit working overseas

What goes around . . .
. . often lands better!

25th Apr 2001, 00:30

You make me ashamed to be British, if your comment isn't 100% irony (if so why post it?). I won't bother going into the reasons for someone of your intellectual capacity.

The Australians and New Zealanders are two of the soundest peoples on Earth, and they should be the first in line for any surplus jobs here, well before any European "allies".

25th Apr 2001, 03:12
Could you PLEASE at least give it a rest for 24 hours or so, as someone else pointed out, today now (Dunnunda) is Anzac day in both Australia and New Zealand, when we remember all the brave service men and women who gave their lives defending, among other places, England.

25th Apr 2001, 22:22
I'm not britisch I'm European. One thing britisch colonials will never be. Thank gott

25th Apr 2001, 22:33
Who is this pratt? You're out of order Airpayne.

rgds Rat

26th Apr 2001, 00:10
Air Pain

I think my grandfather probably rid the earth of a few vermin like you. He was a Pom, but I am not, because when he had done his bit defending Mother England he had sufficient initiative to seek a new life in the colonies at the invite of those antipodeans who had fought alongside him. I hope to meet you some time so that I can give you a hearty smack in the gob. Git.

26th Apr 2001, 01:02

We have just been remembering yesterday, the many service men and women, from Australia, New Zealand and many other Countries, who gave their lives so that you now have the freedom you enjoy, even the freedom to post this vile crap of yours, MAY THEY REST IN PEACE.

Capt PPRuNe
26th Apr 2001, 03:27
Why can't some of you understand that idiots like airpayne thrive on your gullability to react to their peurile comments. Just ignore them and the feeble minded losers eventually go away.

Capt PPRuNe
aka Danny Fyne
The Professional Pilots RUmour NEtwork