Another Bank Runner Bites the Dust
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Another Bank Runner Bites the Dust
That rule, usually called the inevitable, has apparently struck again. Seemingly Maitland/Bankstown based bankrunner had receivership appointed yesterday at 1100.
Feel sorry for the guys and gals working for them, some of whom are owed holiday pay, etc., not to mention the surrounding businesses owed dough.
It makes a mockery of CASA's stated intent to apply a financial performance test to all operators.
Any more news from anyone???
Feel sorry for the guys and gals working for them, some of whom are owed holiday pay, etc., not to mention the surrounding businesses owed dough.
It makes a mockery of CASA's stated intent to apply a financial performance test to all operators.
Any more news from anyone???
Is it really surprising when the last rates I saw bank runners in general must be operating below cost, not paying pilots, fudging on maintenance and being further penalised for late arrivals?
This comment is a general comment about what freight companies pay. It is not intended to reflect on whatever company has gone tits up, of which I have no knowledge.
Regardless, I'm sure another operator or two will rush into the fray to accept remuneration below their operating cost.
This comment is a general comment about what freight companies pay. It is not intended to reflect on whatever company has gone tits up, of which I have no knowledge.
Regardless, I'm sure another operator or two will rush into the fray to accept remuneration below their operating cost.
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Torres
'twas ever thus.
as usual the the score is Bank 1 Aviation 0.
Commbank just released a $2.6 billion profit, they wouldn't even be able to find the line in their accounts for the bankrunners with a 10X magnifying glass.
But you cant blame em really, it's the Dilberts in the industry who fight so very fiercely amongst themselves for the opportunity to go broke.
They are just asking for the shafting, but wait, in a minute you'll hear the same old Greek chorus start up in a minute, about CASA , ASA enroute charges and Airport fees being responsible for their demise,
It's much easier to do that than sell your service for the right price and if the right price is not competitive with other means then you dont have a business, just a very expensive indulgence.
I wonder which set of creditors copped it this time, IMHO aviation creditors who still advance credit to aviation companies operating these services, deserve a special place in the loony bin.
kimwest asks a relevant question re CASA, problem is they don't have anyone on board who would really know where to look.
Must be something in the water.
'twas ever thus.
as usual the the score is Bank 1 Aviation 0.
Commbank just released a $2.6 billion profit, they wouldn't even be able to find the line in their accounts for the bankrunners with a 10X magnifying glass.
But you cant blame em really, it's the Dilberts in the industry who fight so very fiercely amongst themselves for the opportunity to go broke.
They are just asking for the shafting, but wait, in a minute you'll hear the same old Greek chorus start up in a minute, about CASA , ASA enroute charges and Airport fees being responsible for their demise,
It's much easier to do that than sell your service for the right price and if the right price is not competitive with other means then you dont have a business, just a very expensive indulgence.
I wonder which set of creditors copped it this time, IMHO aviation creditors who still advance credit to aviation companies operating these services, deserve a special place in the loony bin.
kimwest asks a relevant question re CASA, problem is they don't have anyone on board who would really know where to look.
Must be something in the water.
Gaunty. I didn't even bother to "rise to the bait" about CASA's "assessment" of an operator's financial status. Having seen their requirements and watch CASA "financially approve" insolvent operators I didn't consider it worthy of comment.
It's one of the few tasks they manage to do even worse than regulatory re-write.
Bank running is: old, tired aircraft; cross hired aircraft; un paid or under paid pilots; paying for endorsements; paying for "ICUS"; overloading; fudging M/R's; fudged log books; late arrival penalties etc etc ad infinitum.
And it's not the Banks that necessarily do the screwing. Whilst I don't doubt the bids are competative, it's the express freight companies, totally devoid of any morals, who are passing out "contracts" to eager aviation operators all keen on eventually going bust!
I think that pretty well summarises that scene!
It's one of the few tasks they manage to do even worse than regulatory re-write.
Bank running is: old, tired aircraft; cross hired aircraft; un paid or under paid pilots; paying for endorsements; paying for "ICUS"; overloading; fudging M/R's; fudged log books; late arrival penalties etc etc ad infinitum.
And it's not the Banks that necessarily do the screwing. Whilst I don't doubt the bids are competative, it's the express freight companies, totally devoid of any morals, who are passing out "contracts" to eager aviation operators all keen on eventually going bust!
I think that pretty well summarises that scene!
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Quick to lay blame before getting all the facts
OK dudes,
I have been reading these forums over the last 12 months taking in all replies to topics posted and quite often wonder what motivate you guys to always have the right answer to anything that is discussed.
In relation to this unfortunate demise of a local operator, you blokes are far from the real reason why it's happenned.
- Dodgy maintenance, pilots fudging the paperwork, high charges, failure of CASA in their obligations, airport fees, unpaid - underpaid pilots ,overloading etc.... - were reasons cited by those who care to comment.
It seems not many people know exactly what the operation totally entails. "Bankrunning" these days really don't carry too much bank stuff at all. Try heaps of overnight satchels, pathology samples, mail, parcels, film processing stuff, etc etc. Citing bank profits?? nothing to do with it. ---- what line of thinking???? I don't follow
Well, you all guessed WRONG! it's NONE of these at all!!!
You should gather ALL of the facts before crucifying the wrong people.
When one of your employees goes in and takes over $180,000 out of the till..... Guess what happens??????
none of the above " educated guesses!!"
I have been reading these forums over the last 12 months taking in all replies to topics posted and quite often wonder what motivate you guys to always have the right answer to anything that is discussed.
In relation to this unfortunate demise of a local operator, you blokes are far from the real reason why it's happenned.
- Dodgy maintenance, pilots fudging the paperwork, high charges, failure of CASA in their obligations, airport fees, unpaid - underpaid pilots ,overloading etc.... - were reasons cited by those who care to comment.
It seems not many people know exactly what the operation totally entails. "Bankrunning" these days really don't carry too much bank stuff at all. Try heaps of overnight satchels, pathology samples, mail, parcels, film processing stuff, etc etc. Citing bank profits?? nothing to do with it. ---- what line of thinking???? I don't follow
Well, you all guessed WRONG! it's NONE of these at all!!!
You should gather ALL of the facts before crucifying the wrong people.
When one of your employees goes in and takes over $180,000 out of the till..... Guess what happens??????
none of the above " educated guesses!!"
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Ahhh sweet justice
Couldn't happen to a nicer bloke.
There are plenty of us out here who have been ripped off by the man in question. Never mind the CASA financial checks... how on earth did he ever pass a 1st Class medical???
I have every sympathy for his former employees who, in my discussions with them, faithfully and blindly repeated the lies told by the boss about the viability etc of the company.
Allnighter: Theft by an employee? Who did you hear that from? If it was the fat man then have a good think about everything he has ever told you.
He aparrently owns a "sleeper" company and AOC. Can't wait to see which company rises from the ashes next week
There are plenty of us out here who have been ripped off by the man in question. Never mind the CASA financial checks... how on earth did he ever pass a 1st Class medical???
I have every sympathy for his former employees who, in my discussions with them, faithfully and blindly repeated the lies told by the boss about the viability etc of the company.
Allnighter: Theft by an employee? Who did you hear that from? If it was the fat man then have a good think about everything he has ever told you.
He aparrently owns a "sleeper" company and AOC. Can't wait to see which company rises from the ashes next week
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I guess we can expect to hear of the charges being laid against the 'thief'.
That Hunter Valley run in particular has been under cut by shonk after shonk and certainly could not be close to profitable in a pressurised Navajo of all things.
Everyone seems to want to run an aviation business (an oxymoron I know), except those who know anything about it.
I must say it is a poor choice of title for the post however, as I was waiting to read Vale _________, don't do that to me.
That Hunter Valley run in particular has been under cut by shonk after shonk and certainly could not be close to profitable in a pressurised Navajo of all things.
Everyone seems to want to run an aviation business (an oxymoron I know), except those who know anything about it.
I must say it is a poor choice of title for the post however, as I was waiting to read Vale _________, don't do that to me.
Claret. It is my understanding Banks are not directly involved nor are they parties to contracts with any operators.
The operations started many years ago carrying time sensitive documents on befalf of various banks, hence the title "Bank Runners".
Now the operations are conducted by the express freight companies and loads consist of express freight, consolidated freight, newspapers, medical samples and bank documents.
The banks pay a significant sum to the express freight companies, who then load the aircraft with their own express freight. I would not care to hazard a guess on how profitable it is for the freight companies, but as they have been at it for many years, I suspect quite profitable.
It is those freight companies that are screwing the stupid operators. One of the biggest - and most immoral - also previously owned a significant share in a now defunct major Australian airline.
The operations started many years ago carrying time sensitive documents on befalf of various banks, hence the title "Bank Runners".
Now the operations are conducted by the express freight companies and loads consist of express freight, consolidated freight, newspapers, medical samples and bank documents.
The banks pay a significant sum to the express freight companies, who then load the aircraft with their own express freight. I would not care to hazard a guess on how profitable it is for the freight companies, but as they have been at it for many years, I suspect quite profitable.
It is those freight companies that are screwing the stupid operators. One of the biggest - and most immoral - also previously owned a significant share in a now defunct major Australian airline.
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As an engineer when you have to refuse to sign an aircraft out because you havn't been paid in 3 months, you have to conclude that the aircraft owner doesn't have much money.
Fortunately we got our money a week before the **** hit the fan.
The problem is the industry has too many enthusiasts:
Pilots who will fly for nothing, because they just want to fly.
Owners who are in it for the "glamour" of owning an aircraft. But can't afford the maintenance.
Get these together and you have poor business and badly looked after aircraft
Fortunately we got our money a week before the **** hit the fan.
The problem is the industry has too many enthusiasts:
Pilots who will fly for nothing, because they just want to fly.
Owners who are in it for the "glamour" of owning an aircraft. But can't afford the maintenance.
Get these together and you have poor business and badly looked after aircraft
otaio. I think it was Gaunty that once summed them up very well. I think is comment was "Wandering adventurers of no fixed percentage".
Your actions were interesting and as absurd as it may sound, legally questionable. I'm not sure CASA would support you not signing out a serviceable aircraft. As best as I could establish (from similar past experience) you can only resort to a "Workman's Lien" to reasonably restrain the aircraft. But it gets even more interesting if the aircraft is cross hired and not owned by your client..........
Your actions were interesting and as absurd as it may sound, legally questionable. I'm not sure CASA would support you not signing out a serviceable aircraft. As best as I could establish (from similar past experience) you can only resort to a "Workman's Lien" to reasonably restrain the aircraft. But it gets even more interesting if the aircraft is cross hired and not owned by your client..........
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torres , surely the maintenance bill is the owners responsibility, cross hired or not.
Removing a prop always helped to get the bill paid in extreme cases.
CASA???? So long as you did it before 9am after 5pm, during lunch hour or on a weekend or public servant holiday, they would never know or care.
Removing a prop always helped to get the bill paid in extreme cases.
CASA???? So long as you did it before 9am after 5pm, during lunch hour or on a weekend or public servant holiday, they would never know or care.
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Damnit!!
Wonder if he'll at least let me come to his place for dinner every day next week, no make that for the next 12 months, cause the money he owed to me would sure have been handy in the basket.
Thanks for that Mr T.
Lets just hope that whoever fills the run looks after the pilots,I think they have earned that,and the poor guys having to take the agressive phone calls,they probably need some stress leave,wishing them all well.
Wonder if he'll at least let me come to his place for dinner every day next week, no make that for the next 12 months, cause the money he owed to me would sure have been handy in the basket.
Thanks for that Mr T.
Lets just hope that whoever fills the run looks after the pilots,I think they have earned that,and the poor guys having to take the agressive phone calls,they probably need some stress leave,wishing them all well.
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Opportunities
Oh there are plenty of opportunistic engineers. After all we are all trying to make a living.
As for the legal aspects of a workmans lien. Well you can always find something wrong that will ground an aircraft.
Why else would operators want MEL's. Even when there is an MEL you still won't have to look to hard.
After all it is my license that says whether the aircraft is flyable or not and of course if I get it wrong then I lose my livelihood, if I get don't get paid its also my livelihood.
In other words, if you are in aviation for the love of it leave and let the business people run the show.
As for the legal aspects of a workmans lien. Well you can always find something wrong that will ground an aircraft.
Why else would operators want MEL's. Even when there is an MEL you still won't have to look to hard.
After all it is my license that says whether the aircraft is flyable or not and of course if I get it wrong then I lose my livelihood, if I get don't get paid its also my livelihood.
In other words, if you are in aviation for the love of it leave and let the business people run the show.