Kornholio
31st Jan 2005, 08:08
January 31, 2005 - 7:54PM
Western Sydney commuters, including thousands of students, would not be left stranded despite the collapse today of Sydney's largest private bus company Westbus, the NSW government said.
Westbus, which serves Sydney's west and north-west suburbs with a fleet of 520 buses and employs 800 people, today went into voluntary administration after failing to renegotiate a loan.
"We will be moving quickly to sell the businesses as going concerns to allow us to pay employee entitlements and creditor claims.
"The administrator has made clear that services will continue, employee entitlements will be met and trade creditors will be paid."
Mr Watkins said the administrator would continue to operate Westbus until a purchaser was found who was willing to take over the company's bus routes.
The Transport Workers' Union (TWU) said former NSW transport minister Michael Costa knew the company was not in a strong financial position last year and could have acted to save it.
"Minister Costa was warned that this would happen six months ago."
The union will meet with the administrators tomorrow so drivers can hear first-hand about the impact of the company's collapse on their jobs.
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Sounds familiar. I wonder if the unempoyed Un-Glorifed Bus Drivers will be forced to take temporary jobs as airline pilots until they can find another job in their trade?
How could this happen....Did Virgin recently start up a Low Cost Bus Company or something???
Western Sydney commuters, including thousands of students, would not be left stranded despite the collapse today of Sydney's largest private bus company Westbus, the NSW government said.
Westbus, which serves Sydney's west and north-west suburbs with a fleet of 520 buses and employs 800 people, today went into voluntary administration after failing to renegotiate a loan.
"We will be moving quickly to sell the businesses as going concerns to allow us to pay employee entitlements and creditor claims.
"The administrator has made clear that services will continue, employee entitlements will be met and trade creditors will be paid."
Mr Watkins said the administrator would continue to operate Westbus until a purchaser was found who was willing to take over the company's bus routes.
The Transport Workers' Union (TWU) said former NSW transport minister Michael Costa knew the company was not in a strong financial position last year and could have acted to save it.
"Minister Costa was warned that this would happen six months ago."
The union will meet with the administrators tomorrow so drivers can hear first-hand about the impact of the company's collapse on their jobs.
-------------------------------------------------------------------------
Sounds familiar. I wonder if the unempoyed Un-Glorifed Bus Drivers will be forced to take temporary jobs as airline pilots until they can find another job in their trade?
How could this happen....Did Virgin recently start up a Low Cost Bus Company or something???