Mr Byrt to buy SkyAirWorld

[CharlieLimaX-Ray]

In the May issue of Australian Aviation there is an article on SkyAirWorld and in the last paragraph it mentions Terry Byrt expressing an interest in acquiring SAW's operating certificate to start a new airline in regional QLD and taking over the Indian Ocean Territories contract!!!

[Aussie]

Good luck to him, wonder if hell take on the old crew with the EMB!

[fancypants]

The negotiations with Terry Byrt failed. Sky air world was wound up today at the second creditors meeting.

[Stationair8]

Terry, two simple rules in aviation, and they are:

1.If it flies, floats or fornicates it will cost you,

2. If it has tits or tyres it will end in tears.

Regards
S8

[Capt Claret]

An article in the Townsville Bulletin last week said Byrt was arrested for long standing fraud charges.

[Mr. Hat]

Good luck to him, wonder if hell take on the old crew with the EMB!

Didn't some (170/90 crews) get picked up by VB?

[Dog One]

If is true, and VB have recruited some crew, then their has been at least somethig positive out of the whole sorry mess.

[yowieII]

No crew picked up by VB unfortunately until they look after their own guys, not a bad thing!

[Skystar320]

Thought VB had enough EMB crew

Anyone got a copy of the creditors report?

[geeup]

Some body tried telling me the other day that SAW own "Regional Pacific" in Cairns?
Any truth to that?

[kev_laline]

S 8

If you want to make a small fortune in aviation, start off with a big one.

If it F's, F's or F's, RENT IT!

[Mach E Avelli]

Kev, SAW did rent it. Everything from the aeroplanes to the pot plants and photcopiers. But they didn't pay the rent.

[Fatcat23]

Sounds fair to me. I've been to all of the Macair creditors meetings to date, and the Macair debt stands at $42M!!! The whole time Macair was going down, we kept getting told it was a measly $12M. The Administrator, now the Liquidator, doesn't get paid unless he gets money out of the company. The company had virtually zero tangable assets, so the only way he gets paid is by sueing the directors. He wouldn't bother if he didn't see a golden pot at the end of the rainbow, thats for sure. He told the last meeting that he believed that Macair had been trading insolvently for at least 18 months. So he is now pursuing Mr Byrt as well as ASIC. Macair was losing about $150K per week for 18 months. If any creditors had known that, theres no way they would have provided any services. Byrt is a dirty crook and should be shut down. And now to say he starting another airline is just ludicrous. He couldn't raise 12 cents in the weeks leading up to Macair's demise, he had no cash, no assetts and no-one would lend him a cent. Where is the money coming from for Skyeastairlines? Add to that the Monto scam where he misrepresented a tenement and is being sued.....this guy is the latest Peter Foster of aviation. No-one with that background or those worries should be anywhere near an airline.

[Rudder]

Fatcat

The reciever or liquidator gets paid by the courts if there is nothing in the kitty. You can bet your life they are not being charitable. It is in their interest to make things into being the biggest mess possible, not that it seems they have to this time.

It's a bit like putting the fox in charge of the chicken house really.

[Rudder]

Hi JetA_OK

It actually doesn't matter. In this case they rank first and if there is insufficient funds generated they apply to the courts who will then make orders. This will normally be done to stop the liquidator acting only in their own interest and the courts will pay.

It also gives effect to the fact that there are lots of liquidations that cannot generate the funds but still need winding up. There are lots of little accounting firms doing just this all the time. You wouldn't call this a small one though. Lots of fees here to pay for the private school fees!!

Like I said, they are not a charity and you can bet they will most certianly be paid one way or the other.

[govener]

Do you really know anything FatCat. Terry Byrt would be the largest creditor of MacAir some Peter Foster that makes him. :ugh:

[TheOtherGuy]

What does MacAir owe Terry Byrt/Birt/Burt? I think all MacAir got from him was hot air and bluster and bad press!

Did ex-MacAir staff have a get together on the weekend? Were the last two owners there? I bet they wouldn't have dared!

[Max Talk]

Yes, the Macair staff had a great get together last Saturday night, thanks to the generousity of the Osborne Mine HR guy in saying thanks to all the Macair staff who gave them great service over the past 10 years or more. No, the previous management or owners were not there, and they wouldn't have wanted to be either. Macair was insolvent well before Terry took over and perhaps he should have done a better "due diligence" check before taking delivery. Perhaps some of the old Macair crews could get a guernsey in any such new venture !!

[aussie1234]

that's right Saturday night was an awesome night!!! thanx to Peter from Osbourne for organising it!! That's what sux about these people who buy these airlines and then don't know how to run it. It affects so many lives. Macair was a great place because of the people and that's what is missed most.

[Jabawocky]

Interesing point about Macair being insolvent before he purchased.... :uhoh: I have heard stories of parts of the deal being all promises and no substance, like foreign exchange for instance on a/c arriving. May be all BS but it could be Terry was set up for a big fall.

How far back do they go when this gets investigated?? :ooh:

[Fatcat23]

Yeh gov, I know that you know SFA thats for sure. So are you an ex Macair employee? or have you been to the creditors meetings? Just tell us everything you know. Maybe you are Mr Burt/Byrt/Bert? Lets see now, Terry Burt is Macair's biggest creditor is he? So maybe you can just let us all know the creditors list break-down from the last mtg. And if you are ex Macas Pilot, then you would have been at the last half-dozen staff/management meetings, and known that Burt couldn't raise a fart. No-one would touch him.I contacted Anna Bligh's office in the weeks leading up to the crash. It was explained to me by her advisor that the govt had done a due dilligance on Macair with the view to bailing it out. What they found was that the alleged $7M required to prop the company up, was not quite the truth. It was so far gone there was no way they were getting involved. As much as I was a total sceptic at the time, and gave the guy heaps, it now looks like they were dead right. The last outstanding debt figure they quoted was $42M and rising. And most of that is Terry Burt is it???? I sincerely believe that Burt would have done anything to save Macair. I have no doubt in my mind that Macair was his pride and joy. But he couldn't raise a cent. The execs were desperate at all of those staff meetings, because there was no cash on the horizon. So how then Gov do you explain that he can suddenly find the cash to buy/start a new airline? He goes through all the usual publicity BS and the whole thing falls through again. Then he's up on fraud charges. Then theres the Monto thing.....Yeh Gov, I have no idea why anyone would compare Terry Byrt with Peter Foster!!!! Give it up bud, your either him or his gay lover aren't ya???

[govener]

You must be smokin the same pipe T.B was smokin the day the guy bought M..Air . Im sure all the meetings you have been to have told you the company was insolvent since 2006. Makes alot of sense to say that was TBs doing. You are so full of hot air, making statements like you are. For God sake the guy bought the business of a crook that was so cooked and the dept was so far gone what hope did he have.:=

[Fatcat23]

Yeh Gov, you sure must be one of the above. Its just so obvious. The company was insolvent, he bought it insolvent, he's insolvent, and now he's trying start another airline....with what? And he's up on fraud charges and also being sued over possibly mixing up which tenemant he advertised to a buyer. Thats nothing like Ptere Foster. Maybe he could pay off the current creditors might be a good moral start, before he goes and starts another airline. If YOU had any morals Gov or knew anything about aviation you'd know last thing we need in aviation is scammers, fraudsters and airlines with cashflow problems. Somewhere I think I read that there may have been an airline or two that killed a few people because they were broke?? Sure I heard that somewhere. Luckily Macair was one of the rarities that didn't pressure pilots into flying unsafely despite having no cash. That was due to the staff below him. Will his next company be the same??? Pretty straight forward comments really Gov. If you can't see any logic in them at all then maybe you are just full of it too.

[Cargo744]

Although 42 mil is nothing to sneeze at the last SAW creditors meeting the administrators stated that they have a current liability to creditors of $79mil!! That is after operating for less than two years. You think TB had no idea bout running an airline.... look at the joker who ran SAW into the ground and started digging.

[govener]

You seem to know an awful lot about nothing. Are you now a mining guru or do you just believe all you read. The Qld Gov sunk MacAir , buried it real quick so that T.B didnt come at them for not doing any do dilegence on the company before giving MacAir the contract. Given that dont you think it makes sense to say that If they had Macair would not have been around for TB to buy. Who is the crook in all of this RM .

[TheOtherGuy]

Rumour has it that some of the major creditors who claim they are still owed money are being taken to court by the liquidator for preferential payments. Hopefully some of the small businesses will get some money and the bigger ones have to hand some back. Maybe some of the aircraft owners? Oh, the Qld government had nothing to do with MacAir's failure - a convenient excuse.

[Cargo744]

TheOtherGuy,

Would not surprise me in the slightest if the CEO gave preferential payments to the big boys. He stated on numerous occasions that he had made "numerous" personal guarantees to some creditors but at both Creditors meetings he could not recall to who and what they entailed. Hope the Liquidator is also intending to take him to court also.

[Jabawocky]

If they get anything back they will burn it up with their own fee's.

does the word WOFTAM mean anything ........ :rolleyes: