Air Australia!
Join Date: Feb 2007
Location: ˙ǝqɐq ǝɯ ʇ,uıɐ ʇɐɥʇ 'sɔıʇɐqoɹǝɐ ɹoɟ uʍop ǝpısdn ǝɯɐu ɹıǝɥʇ ʇnd ǝɯos
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Were most of the AA flightdeck crew already endorsed on type when they joined or have a few people who signed up to a bond now ended up as free agents?
BTW I'm not looking to play down the suffering of employees done wrong.
FRQ CB
BTW I'm not looking to play down the suffering of employees done wrong.
FRQ CB
Most VC drivers were already experienced on type, and they were quite a experienced group in saying that. Most were ex Tiger.
Only A320 jobs in the country at the moment is really JQ, no idea if they are currently recruiting. Otherwise there is always Asia or EK!
Only A320 jobs in the country at the moment is really JQ, no idea if they are currently recruiting. Otherwise there is always Asia or EK!
A few ex Ansett drivers who had been around overseas for a number of years and saw it as a chance to get back home. At least they have some expat experience and possibly a useful licence or two to help in the job hunt.
Strategic Airlines, a charter carrier contracted to fly more than 120,000 UK holidaymakers from Gatwick and Manchester this summer, is 49% owned by a company now in administration in Australia.
However, Luxembourg-registered Strategic Airlines SA confirmed it is separately controlled by its European management team and investors and unaffected by the failure of Air Australia on February 17.
Strategic Airlines commercial director Neil Huston told Travel Weekly: “The failure in Australia will not impact our continued operations. All our funding is generated by our own flying programme.”
Charter airline reassures Olympic after Air Australia collapse - www.travelweekly.co.uk
However, Luxembourg-registered Strategic Airlines SA confirmed it is separately controlled by its European management team and investors and unaffected by the failure of Air Australia on February 17.
Strategic Airlines commercial director Neil Huston told Travel Weekly: “The failure in Australia will not impact our continued operations. All our funding is generated by our own flying programme.”
Charter airline reassures Olympic after Air Australia collapse - www.travelweekly.co.uk
Join Date: Jun 2000
Location: Australia
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Losses started in 2010
From the Brisbane Times.
Creditors of defunct airline Air Australia have been warned not to expect to recoup much money, if anything at all, after it was revealed the company had just $440,000 in the bank on the night it went into voluntary administration - compared to debts of between $80 million and $90 million.
During a one-hour meeting in Brisbane this morning, about 70 creditors, mostly employees of the failed low-cost airline, were told Air Australia's losses over the past 18 months totalled $65 million.
Mark Korda, from administrators KordaMentha, warned creditors the sale of Air Australia group assets was not expected to generate a large return.
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Between $5 million and $6 million, held in security deposits for plane leases, had already been taken by those parties involved, he said.
He said creditors were looking at figures in the "hundreds of thousands" not the "tens of millions" for any asset sales, with any money recovered going straight to employee super payments.
ANZ Bank was listed as the major creditor and Mr Korda estimated its losses to be more than $20 million.
In describing Air Australia's losses as "horrendous" Mr Korda said Air Australia had been using advanced ticket sale money to cover the losses.
Approximately $65 million in tickets for future flights had been sold when the company ceased flying on February 17, stranding 4000 passengers.
Mr Korda said the losses appeared to have begun in 2010, when the company, then known as Strategic, lost its defence contract and instead made the decision to become a low-cost airline.
He said the company had been predicted to turn a small profit from March, but the losses in the months beforehand had crippled the business.
Mr Korda said Air Australia records had revealed employee super, mandated by law, had not yet been paid for the December quarter, or January.
Company director Michael James did not front the creditors meeting, however, Mr Korda said he believed him to still be in the country.
Mr Korda said Mr James had been co-operative with his staff and said it had been his prerogative as to whether he attended or not.
"I'm sure he is under a considerable amount of stress," he said.
Employees can expect to recoup $5 million of the $8 million owed them, through the federal government's Geers scheme, a program established to ensure part of employees entitlements are paid in the event of a company collapse.
However, Geers payments are capped at a salary of $118,000, meaning higher paid workers miss out on entitlements.
Mr Korda said an engineering company that traded under the Air Australia group umbrella had received attention from "four interested parties" but he could not discuss an anticipated sale price.
Creditors of defunct airline Air Australia have been warned not to expect to recoup much money, if anything at all, after it was revealed the company had just $440,000 in the bank on the night it went into voluntary administration - compared to debts of between $80 million and $90 million.
During a one-hour meeting in Brisbane this morning, about 70 creditors, mostly employees of the failed low-cost airline, were told Air Australia's losses over the past 18 months totalled $65 million.
Mark Korda, from administrators KordaMentha, warned creditors the sale of Air Australia group assets was not expected to generate a large return.
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Between $5 million and $6 million, held in security deposits for plane leases, had already been taken by those parties involved, he said.
He said creditors were looking at figures in the "hundreds of thousands" not the "tens of millions" for any asset sales, with any money recovered going straight to employee super payments.
ANZ Bank was listed as the major creditor and Mr Korda estimated its losses to be more than $20 million.
In describing Air Australia's losses as "horrendous" Mr Korda said Air Australia had been using advanced ticket sale money to cover the losses.
Approximately $65 million in tickets for future flights had been sold when the company ceased flying on February 17, stranding 4000 passengers.
Mr Korda said the losses appeared to have begun in 2010, when the company, then known as Strategic, lost its defence contract and instead made the decision to become a low-cost airline.
He said the company had been predicted to turn a small profit from March, but the losses in the months beforehand had crippled the business.
Mr Korda said Air Australia records had revealed employee super, mandated by law, had not yet been paid for the December quarter, or January.
Company director Michael James did not front the creditors meeting, however, Mr Korda said he believed him to still be in the country.
Mr Korda said Mr James had been co-operative with his staff and said it had been his prerogative as to whether he attended or not.
"I'm sure he is under a considerable amount of stress," he said.
Employees can expect to recoup $5 million of the $8 million owed them, through the federal government's Geers scheme, a program established to ensure part of employees entitlements are paid in the event of a company collapse.
However, Geers payments are capped at a salary of $118,000, meaning higher paid workers miss out on entitlements.
Mr Korda said an engineering company that traded under the Air Australia group umbrella had received attention from "four interested parties" but he could not discuss an anticipated sale price.
Join Date: Apr 2007
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Cripes! 
What is happening to the fleet? There has beeen a bit of movement at the station over the last couple of days by Strategic/AA liveried aircraft. Do the owners have to ferry them back to their bases?
What is happening to the fleet? There has beeen a bit of movement at the station over the last couple of days by Strategic/AA liveried aircraft. Do the owners have to ferry them back to their bases?
I'm sure he is under a considerable amount of stress," he said.
What about the stress of those 300 plus people who are now looking for work to pay their bills?
Perhaps he can go for a swim in his pool. That may make him feel better.
COLLAPSED budget airline Air Australia owes creditors up to 90 million dollars, and employees won't recoup all of their owed wages.
Administrators for the airline met with around 100 creditors at Brisbane's The Greek Club yesterday.
The meeting heard a federal government scheme would cover the 300 plus employees' unpaid wages, but limits payouts to 118 thousand dollars.
All up, only five million dollars of the eight million dollars owed in unpaid wages will be covered by the scheme.
Administrator KordaMentha partner Mark Korda says they've had four expressions of interest for the sale of the engineer business, but because the company leased everything there's not a lot to sell.
He expects about one million dollars to be made from sale of Air Australia's assets.
Read more: Air Australia owes up to $90 million | News.com.au
Administrators for the airline met with around 100 creditors at Brisbane's The Greek Club yesterday.
The meeting heard a federal government scheme would cover the 300 plus employees' unpaid wages, but limits payouts to 118 thousand dollars.
All up, only five million dollars of the eight million dollars owed in unpaid wages will be covered by the scheme.
Administrator KordaMentha partner Mark Korda says they've had four expressions of interest for the sale of the engineer business, but because the company leased everything there's not a lot to sell.
He expects about one million dollars to be made from sale of Air Australia's assets.
Read more: Air Australia owes up to $90 million | News.com.au
First of the Air Australia fleet has departed today - 29/2.
YQA (in Strategic c/s) departed BNE this earlier this morning. Currently in DRW and destined for SIN later today...
Being c/n 190 I wonder who will pickup this 'old girl'?
YQA (in Strategic c/s) departed BNE this earlier this morning. Currently in DRW and destined for SIN later today...
Being c/n 190 I wonder who will pickup this 'old girl'?
Join Date: Apr 2005
Location: Melbourne, Australia
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From the Honolulu Rare Birds website:
*** 02.27.12 Update ***
VH-SSA was ferried to ZRH (via YUL) from HNL on the 25th.
I also believe the ATLASJET A330 TC-ETK has also left Phuket heading back to Turkey.
*** 02.27.12 Update ***
VH-SSA was ferried to ZRH (via YUL) from HNL on the 25th.
I also believe the ATLASJET A330 TC-ETK has also left Phuket heading back to Turkey.
Join Date: Jun 2001
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Anyone know what potential penalties apply to a company that trades whilst insolvent?
Also who is legally responsible and I guess potentially culpable in such a case? Directors? CEO? CFO? Auditors?
Also who is legally responsible and I guess potentially culpable in such a case? Directors? CEO? CFO? Auditors?
Join Date: Sep 2007
Location: Australia
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This is an almost exact re-run of Skyairworld, who owed around $80 mil in debt. Some things you can expect, GEERS will take around 3 months to get, and then they may only pay out half of your entitlements! I had to join AFAP to get the other half I was legally entitled to. Around 12-18 months after the event the administrator might get around to getting the CEO in court for trading while insolvent. Nothing happened with this one in the SAW case.
And three years down the track you will get some of your super back. I got a cheque from the ATO for $24 they recovered of the $5000 super I was not paid.
Good Luck everyone. Word of advice. Get your GEERS paperwork in and move on.
And three years down the track you will get some of your super back. I got a cheque from the ATO for $24 they recovered of the $5000 super I was not paid.
Good Luck everyone. Word of advice. Get your GEERS paperwork in and move on.
Join Date: Apr 2007
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Thanks for the aircraft info.
Re Skyair and Ozjet, those of you with inside experience of either debacle should write to the Murdoch rags. There has been extensive coverage of the AA collapse, but IIRC even the Brisbane paper hasn't mentioned Skyair or Ozjet, certainly not in any detail.. There are a lot of paralells that they're not picking up on, and I think that because they were relatively low profile carriers the journos may have forgotten about them.
Pollies read papers.
Re Skyair and Ozjet, those of you with inside experience of either debacle should write to the Murdoch rags. There has been extensive coverage of the AA collapse, but IIRC even the Brisbane paper hasn't mentioned Skyair or Ozjet, certainly not in any detail.. There are a lot of paralells that they're not picking up on, and I think that because they were relatively low profile carriers the journos may have forgotten about them.
Pollies read papers.
Join Date: May 2001
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Bollocks,
generally when the administrator finishes his job ( has spent all the remaining money),
if there is no money left to examine whether the company traded whilst insolvent, one of two things occurs
1) he/she invites creditors to fund an examination as to whether the company traded whilst insolvent ( making more money for the administrator)
2) recommends winding the company up
Been there a few times and 2) is what happens, and got stiffed under GEERS as well, administrator used common law agreements to pay staff.
Directors walk away scott free, live in single daughters mansions, or prime river front $$$$$ properties
generally when the administrator finishes his job ( has spent all the remaining money),
if there is no money left to examine whether the company traded whilst insolvent, one of two things occurs
1) he/she invites creditors to fund an examination as to whether the company traded whilst insolvent ( making more money for the administrator)
2) recommends winding the company up
Been there a few times and 2) is what happens, and got stiffed under GEERS as well, administrator used common law agreements to pay staff.
Directors walk away scott free, live in single daughters mansions, or prime river front $$$$$ properties
Falling Leaf,
A $24 cheque from the ATO? How exciting, I look forward to receiving mine!
But as FL said, the initial amount from GEERS may be well short of your entitlements, and it's worth asking for a review. I think I ended up getting newrly double the initial amount (still short of what I was owed, but better than nothing).
A $24 cheque from the ATO? How exciting, I look forward to receiving mine!
But as FL said, the initial amount from GEERS may be well short of your entitlements, and it's worth asking for a review. I think I ended up getting newrly double the initial amount (still short of what I was owed, but better than nothing).
Join Date: Jan 2010
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Anyone know what potential penalties apply to a company that trades whilst insolvent?
Also who is legally responsible and I guess potentially culpable in such a case? Directors? CEO? CFO? Auditors?
Also who is legally responsible and I guess potentially culpable in such a case? Directors? CEO? CFO? Auditors?
Directors can be fined (or imprisoned in extreme circumstances) and made personally liable for the debts of the company. CEOs are almost always directors. Even if they aren't directors by name the Corporations Act will make them directors by implication.
Auditors could potentially be sued for negligence or fraud.
*Not legal advice*
Join Date: Feb 2009
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"Mr James and his family companies are listed as the majority owner of Strategic Aviation, which operates an ageing fleet of three A320s, mostly flying between Manchester in the UK, Scandinavia and the Greek Isles. The rest of the company - 49 per cent - is owned by the now collapsed Australian venture, and KordaMentha said yesterday they were investigating what assets Strategic Aviation had in Luxembourg."
Given the above, whats the likely impact on the operation in Luxembourg from an Australian administrator / legal system point of view?
Given the above, whats the likely impact on the operation in Luxembourg from an Australian administrator / legal system point of view?
Join Date: Oct 2009
Location: Alabama, then Wyoming, then Idaho and now staying with Kharon on Styx houseboat
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AA, CASA, SMS, acronyms and incompetence.
Mr James is a complete turd. Don't you love how this gutless weasel has gone to ground, man up you coward.
The other interesting thing is that under an airlines SMS adequate resources and finances is considered something that is or can be construed as a 'safety risk'. So if AA go bust as well as SAW an Ozjet what safety risks existed and for how long? Worse still, what the hell is the toothless inept Regulator with a capital R doing throughout these AOC holders financial and safety affected existence. If CASA aren't aware of an airlines financial, or lack of financial state, then this proves they are incompetent, out of their depth and incapable of accurately monitoring safety risks within Australlian aviation. If on the other hand CASA are aware of an operators dangerous financial situation what exactly are they doing about it? Sweet f#ck all by the look of things considering how many operators are going tits up!
CASA spent time over at AA not even a fortnight before Turd James empire came crashing down? Why? Was CASA aware of the financial problems or were they there over other matters?
Maybe CASA missed out on some vital clues because they were too busy attending workshops in Montreal or swallowing Turd James grandiose stories and visions of dominance, most of which he initially dreamed up while he was processing excess baggage while working the check-in counters for Ansett at Brissie airport?
And with all of AA's incurred debts of possibly $90 million which has been reported to have commenced in around 2010, why did the capital R regulator not pick up on any if this whilst they were approving AA's AOC, allowing more aircraft to be added to their AOC, approving new operating routes etc?
Yep as I thought, a blind and incompetent Regulator mixed with an AOC holder bleeding money is creating an elevated risk level in itself!!
Good work Skull, most certainly another fine example of 'safe skies for all'.
The other interesting thing is that under an airlines SMS adequate resources and finances is considered something that is or can be construed as a 'safety risk'. So if AA go bust as well as SAW an Ozjet what safety risks existed and for how long? Worse still, what the hell is the toothless inept Regulator with a capital R doing throughout these AOC holders financial and safety affected existence. If CASA aren't aware of an airlines financial, or lack of financial state, then this proves they are incompetent, out of their depth and incapable of accurately monitoring safety risks within Australlian aviation. If on the other hand CASA are aware of an operators dangerous financial situation what exactly are they doing about it? Sweet f#ck all by the look of things considering how many operators are going tits up!
CASA spent time over at AA not even a fortnight before Turd James empire came crashing down? Why? Was CASA aware of the financial problems or were they there over other matters?
Maybe CASA missed out on some vital clues because they were too busy attending workshops in Montreal or swallowing Turd James grandiose stories and visions of dominance, most of which he initially dreamed up while he was processing excess baggage while working the check-in counters for Ansett at Brissie airport?
And with all of AA's incurred debts of possibly $90 million which has been reported to have commenced in around 2010, why did the capital R regulator not pick up on any if this whilst they were approving AA's AOC, allowing more aircraft to be added to their AOC, approving new operating routes etc?
Yep as I thought, a blind and incompetent Regulator mixed with an AOC holder bleeding money is creating an elevated risk level in itself!!
Good work Skull, most certainly another fine example of 'safe skies for all'.