Tigerair Bali flights grounded
Time for a new CEO
It's really quite simple. Virgin & Tiger as a group approached the Indonesian regulator with utter disrespect. They showed the same disrespect to their clients. Karma has bitten them on the arse for being so arrogant as to attempt to run one airline on another airlines approval in the first place. After that they clearly didn't show any reasonable attempt to operate within Indonesian regulation, build relationships, and fix their mistakes, so Indonesia kicked em out, as well they should have. Now it's time for a new CEO as clearly this one has not a bloody clue. Even if VA began flying these sectors again, I wouldn't fly with them again.
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Australia's Tigerair abruptly quits Bali flights
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Tiger have been operating under a charter licence to DPS. Haven't been able to get their c..p in a pile (or show they were nearly there) before the expiration date of that charter licence.
Every other airline operating into DPS seems to be able to meet the requirements so the Indo's said no to Tiger continuing.
Simple.
Every other airline operating into DPS seems to be able to meet the requirements so the Indo's said no to Tiger continuing.
Simple.
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My information is that the whole mess/ debacle is due to incompetence this end, nothing to do with the Indonesians. Also, Virgin will not be resuming services in place of Tiger.
It's over....
Wonder if heads will roll? They should...
It's over....
Wonder if heads will roll? They should...
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Yes the whole VAH thing is turning to crap. Share price dropping like a stone, earnings per share less than 1 cent, off the clock debt that just keeps rising and no prospect of a dividend. All at a time when oil price is very low. Something has to give, the shareholders deserve better!
JB should resign for a start and probably the chairman as well. Do a clean out of management, possibly downsize the mainline operation, simplify the fleet etc. The big investors might have deep pockets but eventually the numbers just won't add up anymore, and that time is getting closer.
SN
JB should resign for a start and probably the chairman as well. Do a clean out of management, possibly downsize the mainline operation, simplify the fleet etc. The big investors might have deep pockets but eventually the numbers just won't add up anymore, and that time is getting closer.
SN
Tiger publically shot down the DGCA from the get go, they were very vocal about how they were innocent and the Indonesians were just being corrupt as ever.
Having lived and flown there for 5 years, rule number 1.. Don't disrespect them. Otherwise they will make your miserable.
Australia made life hard for AirAsia when they attempted to commence operations from Bali a year before this Tiger stuff happend. Tit for Tat. Brings back memories.
Having lived and flown there for 5 years, rule number 1.. Don't disrespect them. Otherwise they will make your miserable.
Australia made life hard for AirAsia when they attempted to commence operations from Bali a year before this Tiger stuff happend. Tit for Tat. Brings back memories.
Rob Sharp is quoted in The Australian today: "But I can talk about principles I have brought into this business. Customer number one, number one, number one. They pay your bills."
Virgin Australia owns the 737-800s concerned, has an AOC clearly acceptable to the Indonesian authorities (currently operating other sectors e.g. BNE-DPS) and could provide an interim customer focused solution for the booked pax. Yet they seem happy to sit back and watch their subsidiary trash its customer brand. Yet again !
Virgin Australia owns the 737-800s concerned, has an AOC clearly acceptable to the Indonesian authorities (currently operating other sectors e.g. BNE-DPS) and could provide an interim customer focused solution for the booked pax. Yet they seem happy to sit back and watch their subsidiary trash its customer brand. Yet again !
Tiger publically shot down the DGCA from the get go, they were very vocal about how they were innocent and the Indonesians were just being corrupt as ever.
A little bit like if a shipping or oil company has a massive spill. The FIRST organisation they call is a PUBLIC RELATIONS firm to control the media and manage the message. To them this is the most important part of managing any "crisis", protect reputation and shareholder value in the longer term.
VAH dug a huge hole for themselves a number of years ago and they are struggling to get out of it.
Debt to equity ratio is 333.8%. In June of 2007 it was 113.8%
Net gearing is 208.7%. In June of 2007 it was 19.2%
NTA backing per share is 8c. In June of 2007 it was 67c
The current balance sheet looks sick.
I suspect they will need more shareholder funds by 30 June 17.
Debt to equity ratio is 333.8%. In June of 2007 it was 113.8%
Net gearing is 208.7%. In June of 2007 it was 19.2%
NTA backing per share is 8c. In June of 2007 it was 67c
The current balance sheet looks sick.
I suspect they will need more shareholder funds by 30 June 17.
Last edited by B772; 4th Feb 2017 at 10:04.
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I would like to know who is actually getting rich out of this outfit. The company pulls on more and more debt at a time when its relatively easy to make money in Australian airlines. Questions need to be asked like who owns or has an interest the company's that lease services and equipment to VA? Someone must be making money somewhere because it shouldn't be this bad. It looks like a pseudo private equity arrangement.
QF is in profit and that show certainly isn't all that efficient.
SN
QF is in profit and that show certainly isn't all that efficient.
SN
From what I understand Tiger were trying to fly RPT on a Charter AOC. Why? If they have an Australian RPT AOC why can't they get an Indo one, and why mess around with pseudo Charter/RPT?
From what I understand Tiger were trying to fly RPT on a Charter AOC. Why? If they have an Australian RPT AOC...
...to be able to use VAI procedures because it's on the VAI AOC, with VAI pilots.
Each port on an RPT AOC is authorised, charter not so.