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Fiji Military Takes Control Of Air Pacific

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Fiji Military Takes Control Of Air Pacific

Old 28th Mar 2012, 01:34
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Fiji Military Takes Control Of Air Pacific

It's time to say a fond fair well to Air Pacific people

Fiji's military government says it is taking over control of the country's national carrier Air Pacific from Australian company Qantas.

The government of Commodore Frank Bainimarama issued a decree saying that all Fijian-registered carriers must now be owned and controlled by Fijian nationals.

Qantas owns 46.3 per cent of Air Pacific to Fiji's 51 per cent. However, according to a Fijian government release, Qantas since 1998 has exercised effective control over the carrier through super majority and veto rights.
Qantas, which has long sought to sell its stake in Air Pacific, said it would issue a statement later today.

The Fijian government said in a release that the move would bring it into step with international laws and practices.
SOURCE
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Old 28th Mar 2012, 02:20
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Another Qantas investment goes down the tubes.
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Old 28th Mar 2012, 02:56
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Lets hope that they have reconstructed the Political Risk part of their risk model before they went into all those new J Star investments.
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Old 28th Mar 2012, 03:13
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Bravo to the Commodore! It's high time the Fijian nationals take control of their fate. Just try to understand his position; the ozzie police commissioner try to conspire with his kiwi counterpart to nab the Commodore on flimsy ground. It's high time the Pacific Island nations see those scumbags bearing strange gifts for what they are.
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Old 28th Mar 2012, 03:57
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Stealing is an offence. Cancel Air Pacific's landing rights here. Seize any joint assets that belong to QF or other Australian entities when they're on the ground here....
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Old 28th Mar 2012, 04:04
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With only one possible buyer, the 46.3% won't be worth much!

Air Pacific has been a successful airline over many years. I suspect it will now join a long list of underperforming, or unprofitable, or failed Pacific island carriers?
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Old 28th Mar 2012, 04:12
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Joke

Air Pacific has been a successful airline over many years. I suspect it will now join a long list of underperforming, or unprofitable, or failed Pacific
island carriers?
Agreed. This airline has weathered a number of storms and remained a survivor. Not any more. The military couldn't run a kids carnival let alone a successful airline. And in the current economic climate and it's challenges it will not take long for Air Pacific to be ransacked and turned upside down.

And the Australian taxpayer via the Australian government provides Fiji with how much funding again?
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Old 28th Mar 2012, 04:58
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I don't think their plan is to buy it Taily!
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Old 28th Mar 2012, 05:09
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FFS just send in the SAS ... and I don't mean for Qantas' benefit, the poor Fijian people deserve better than that Mugabe-wannabe running amok in their country
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Old 28th Mar 2012, 05:29
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the poor Fijian people deserve better than that Mugabe-wannabe running amok in their country
Actually the Fijians in general like him. It is the Indian 37.6% of population that don't.

H2, that is what I was alluding to - the Qantas 46.3% equity may be worthless if it is nationalised! It would not surprise me if Qantas held a lien over FJ's aircraft?
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Old 28th Mar 2012, 08:49
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Actually the Fijians in general like him. It is the Indian 37.6% of population that don't.
Correct, he's done a few good things for the Fijian people.
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Old 28th Mar 2012, 09:07
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So who's wants to buy a Denarau time share ......
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Old 28th Mar 2012, 09:09
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Only One Buyer?

A quiet rumor doing the rounds in Dubai at the moment is that Emirates are very interested in owning a large chunk of Air Pacific and even the airport infrastructure over there.

Now before everyone shoots it down, 2 things...

1) EK love destinations where the Indian population is large!
2) Would it give EK access to the Pacific market and a way around 5th freedom Rights which are sooo strong in that region of the market??

Sort of like connecting the dots around the globe...
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Old 28th Mar 2012, 09:38
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Fiji relies on foreign investment in various parts of their economy and although Bananadrama is well liked and has made some positive steps, he has now shot himself in the foot for any future foreign investment in the country. Seriously why would you invest, when at a whim they can change the rules to suit themselves.
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Old 28th Mar 2012, 13:13
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Oh Gawd

Now Air Pathetic shift to Fiji Time.

The Airline is great to fly with - a really decent experience and value for money. what happens now then? I can see reliability falling to bits and a huge impact on Fiji's inbound tourism.

Fiji is a lot like Greece. Without tourist dollars they are a 3rd world economy.

If FJ goes into unreliable mode Fiji will be wiped like a dirty bum and the traffic will redirect to DPS and HKT. It may be a bonanza for the LCC market, but don't expect Agent compliance. It won't be there.One wonders if the alleged powers tht be in Fiji really can see beyond their own egos and personal agendas.

Quel domage

Best all

EWL
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Old 28th Mar 2012, 21:00
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1) EK love destinations where the Indian population is large!
Remember the Indians in Fiji are the problem not the solution. The current ruling guys would happily provide "one way" tickets to the Fiji Indians.

Re other airlines taking up any slack, you can bet your bottom dollar that the regime will block anything that "hurts" their own airline.
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Old 28th Mar 2012, 22:06
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TBM if QF hurt them. I'm sure Fiji can hurt QF. Withdraw it as an alternate and the contingency fuel across the pacific just went up an immensely. Having said that seems a stupid move by Fiji for me.

Why is the Indian population a problem in Fiji?
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Old 28th Mar 2012, 22:50
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Bravo to the Commodore! It's high time the Fijian nationals take control of their fate. Just try to understand his position; the ozzie police commissioner try to conspire with his kiwi counterpart to nab the Commodore on flimsy ground. It's high time the Pacific Island nations see those scumbags bearing strange gifts for what they are
Rather odd, coming from an Indian, when it is your race that banarama sees as the "problem" in Fiji. Rooting for the opposition, or just don't like overseas Indians?
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Old 28th Mar 2012, 22:51
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Why is the Indian population a problem in Fiji?
If it weren't for the high Indian exodus/migration rate, the Fijian Indians would now probably be in the majority and own the country. It is the reason for the many coups over the years.

Wonder what Qntas have their FJ investment capitalised at? Another write back, along with their Vietnam investment, on this years Balance Sheet?
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Old 29th Mar 2012, 02:26
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TBM-Legend said

Stealing is an offence. Cancel Air Pacific's landing rights here. Seize any joint assets that belong to QF or other Australian entities when they're on the ground here....
I agree. If they are owned by the Fijian military they are no more civilian aircraft than the RAAFs leased BBJs. Ban them, then they'll be largely [email protected]&ked. If they ban Australian carriers they'll be killing their tourism industry and shooting themselves in the foot. Next step, sanctions on imports/exports and travel restrictions on all members of the Fijian military govt and their families, Air Pac employees included.
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