Mr Byrt to buy SkyAirWorld
Thread Starter
Mr Byrt to buy SkyAirWorld
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!!!
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
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
Kev, SAW did rent it. Everything from the aeroplanes to the pot plants and photcopiers. But they didn't pay the rent.
Join Date: Dec 2007
Location: Brisbane
Posts: 17
Likes: 0
Received 0 Likes
on
0 Posts
terry byrt arrested!!!
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.
Join Date: Nov 1999
Posts: 187
Likes: 0
Received 0 Likes
on
0 Posts
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.
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.
Join Date: Nov 1999
Posts: 187
Likes: 0
Received 0 Likes
on
0 Posts
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.
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.
Join Date: Apr 2009
Location: Queensland
Posts: 31
Likes: 0
Received 0 Likes
on
0 Posts
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!
Did ex-MacAir staff have a get together on the weekend? Were the last two owners there? I bet they wouldn't have dared!
Join Date: Nov 2006
Location: Townsville Qld
Posts: 20
Likes: 0
Received 0 Likes
on
0 Posts
Macair get together
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 !!
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.
Join Date: Jul 2007
Location: in the classroom of life
Age: 55
Posts: 6,864
Likes: 0
Received 1 Like
on
1 Post
Interesing point about Macair being insolvent before he purchased.... 
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??
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??