Ozjet's final landing
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Interesting to hear (the rumour) there is some quiet interest being shown by authorities and media in the way the sale, administration and DOCA has been handled since Ozjet went into administration. I understand from one contact there have been detailed notes kept by several interested parties on who, what, where and when.
Much focus on how final figures were arrived at before the DOCA was put into place and speculation they were underquoted from the get go. (Interesting point considering Strategic had their finance staff go over the figures. Who did the sums and who signed off on them?)
The outcome of the next creditor's meeting may well be a fait accompli, or maybe nothing will happen like the last few times (apart from admin costs skyrocketing), but if/when the truth surfaces, it will be a story worth reading, especially if names and $$$ are mentioned.
Much focus on how final figures were arrived at before the DOCA was put into place and speculation they were underquoted from the get go. (Interesting point considering Strategic had their finance staff go over the figures. Who did the sums and who signed off on them?)
The outcome of the next creditor's meeting may well be a fait accompli, or maybe nothing will happen like the last few times (apart from admin costs skyrocketing), but if/when the truth surfaces, it will be a story worth reading, especially if names and $$$ are mentioned.
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Is there any more news on the Ozjet front?
Has the sale now gone through as Strategic got the Bali rights even though according the Australian Securities and Investments Commission website the company is still in administration?
Also the next question must be, if Ozjet is still in Administration, the money that Strategic are collecting on the Perth - Derby run, should this not be going to the creditors and employees rather than filling Strategic's coffers?
Has the sale now gone through as Strategic got the Bali rights even though according the Australian Securities and Investments Commission website the company is still in administration?
Also the next question must be, if Ozjet is still in Administration, the money that Strategic are collecting on the Perth - Derby run, should this not be going to the creditors and employees rather than filling Strategic's coffers?
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Strategic operated a CASA Proving Flight on Tuesday this week - PER/DCN/PER.
Apparently the AOC is iminent for them to ops this route in their own right - they passed the testing on Tuesday so im led to believe.
According to insiders they will commence services to Derby/Curtin with the A320 from this coming Monday (8th Feb).
Their next A320 is due ex SIN to be based in PER in about 2 weeks time. Rego should be - YQB. Staff travelling to SIN to commence engineering work next Tuesday.
Plans underway to offer PER/DPS/SIN in the next few months.
Skypest have also lost the 'Cloudbreak' contract to them too so my insider tells me...
Cheers, BB
P.S. All 3 ex OzJet B732's (now N Rego) are still parked up at PER ITB.
Apparently the AOC is iminent for them to ops this route in their own right - they passed the testing on Tuesday so im led to believe.
According to insiders they will commence services to Derby/Curtin with the A320 from this coming Monday (8th Feb).
Their next A320 is due ex SIN to be based in PER in about 2 weeks time. Rego should be - YQB. Staff travelling to SIN to commence engineering work next Tuesday.
Plans underway to offer PER/DPS/SIN in the next few months.
Skypest have also lost the 'Cloudbreak' contract to them too so my insider tells me...
Cheers, BB
P.S. All 3 ex OzJet B732's (now N Rego) are still parked up at PER ITB.
Last edited by Brian Burke; 5th Feb 2010 at 04:48.
Plans underway to offer PER/DPS/SIN in the next few months.
would be suprised if Strategic had picked up Cloudbreak, though I do believe Skywest had planned to run an A320 in there, perhaps FMG are engaging Strategic until then...
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The last payment from the Ozjet Airlines P/L Deed of Company arrangement have been posted out.
For those who posted here and elsewhere that a Deed of arrangments would be a quicker and better payer than the Federal Governments GEERS system, a couple of points on this affair.
Speed of payment.
Ozjet into administration on the 20th of May, 2009.
Employee entitlements paid on 15th of Feb, 2010 -8 months later!!
Quantity of payment.
Wages, Days in Lieu, Superannuation and Annual Leave/Loading PAID IN FULL.
5.95% of any payment in lieu of payment and all Redundancy CANNOT BE PAID.
IE:
Those (under the pilot's award) with 1 - 2 years service 4 WEEKS cannot be paid.
Those with 2 - 3 years of service 6 WEEKS cannot be paid.
Those with 3 - 4 years of service 7 WEEKS cannot be paid.
Unfortunately I doubt that this will be the last company to go broke, for those who may be involved in the future it would pay to look at the figures if there ever is a vote on a DOCA.
For those who posted here and elsewhere that a Deed of arrangments would be a quicker and better payer than the Federal Governments GEERS system, a couple of points on this affair.
Speed of payment.
Ozjet into administration on the 20th of May, 2009.
Employee entitlements paid on 15th of Feb, 2010 -8 months later!!
Quantity of payment.
Wages, Days in Lieu, Superannuation and Annual Leave/Loading PAID IN FULL.
5.95% of any payment in lieu of payment and all Redundancy CANNOT BE PAID.
IE:
Those (under the pilot's award) with 1 - 2 years service 4 WEEKS cannot be paid.
Those with 2 - 3 years of service 6 WEEKS cannot be paid.
Those with 3 - 4 years of service 7 WEEKS cannot be paid.
Unfortunately I doubt that this will be the last company to go broke, for those who may be involved in the future it would pay to look at the figures if there ever is a vote on a DOCA.
Does anyone have a copy of the original DOCA? Appears there may be a legal challenge for non payment of days in lieu of notice. If so please send a copy to [email protected]
Thanks
Thanks
Last edited by olderairhead; 6th Jun 2010 at 11:35.
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olderairhead
who is mounting the legal challenge?
Is there really an identity out there that that gives a hoot that the DOCA was voted on the false premise that Oz employees were owed $827,000 rather than the true figure of $1,270,000.
History showing that that vote passed ownership of Ozjet to to Strategic.
BTW, the original document would number 60 odd pages, bit too much to scan and email. However if there was substance to the possibility of a legal challenge I am sure some arrangement may be possible.
who is mounting the legal challenge?
Is there really an identity out there that that gives a hoot that the DOCA was voted on the false premise that Oz employees were owed $827,000 rather than the true figure of $1,270,000.
History showing that that vote passed ownership of Ozjet to to Strategic.
BTW, the original document would number 60 odd pages, bit too much to scan and email. However if there was substance to the possibility of a legal challenge I am sure some arrangement may be possible.
