RIP Bonza
Also lost in the current debate is that on 84% of its routes, Bonza is the only airline and on 89% it is the only low-cost airline.
However taking out the start up costs which are a one off
Taking out the wet leasing
Taking out 777s gouging
It be fair to say that their ongoing operational profit / loss would be around $20mill loss over 15 months?
Taking out the wet leasing
Taking out 777s gouging
It be fair to say that their ongoing operational profit / loss would be around $20mill loss over 15 months?
if you start from the bottom of a deep hole, then just keep digging only a little deeper each month, you don't get any closer to the surface. You just get deeper.
Personally I believe TJ had a great plan to get established without going toe to toe with the big 2
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Monte Carlo fallacy
Bonza has a lot going for it. Or did have before certain bad things happened to it. That doesn't mean its a bad idea. We have however to play by certain rules of economic theory. Was Bonza done it or did it do it itself? The answer is probably both.
That said - I firmly believe that Bonza deserves a chance. And I think many people here would agree. Feel free to contact me using my user name at Gmail. I would be happy to hear from you. And yes, I am interested in restoring the concept to benefit Australians.
Cheers
That said - I firmly believe that Bonza deserves a chance. And I think many people here would agree. Feel free to contact me using my user name at Gmail. I would be happy to hear from you. And yes, I am interested in restoring the concept to benefit Australians.
Cheers
Lol again, it was only a few months back they were offering 200k of seats on every route for $49, after their 50% off sale in January. Baggage and seat revenue would be minimal as the market they were catering for is dollar conscious. I few JQ out of MCY Tuesday and seat selection was at 15 seats prior to the flight being handed to airport control for check in, checked bags in total 23 when the belt stopped at the other end, yet the overhead bins were chokers and load factor was 83%.
Doubt they got any kick backs from hotels as they didn’t deal with them, holiday revenue was paid to Awai directly as per the Q&A the admins have released.
When those 58000 forward bookings finally get cancelled I would be surprised if they total more than a few million in new debt
Bonza has a lot going for it. Or did have before certain bad things happened to it. That doesn't mean its a bad idea. We have however to play by certain rules of economic theory. Was Bonza done it or did it do it itself? The answer is probably both.
That said - I firmly believe that Bonza deserves a chance. And I think many people here would agree. Feel free to contact me using my user name at Gmail. I would be happy to hear from you. And yes, I am interested in restoring the concept to benefit Australians.
Cheers
That said - I firmly believe that Bonza deserves a chance. And I think many people here would agree. Feel free to contact me using my user name at Gmail. I would be happy to hear from you. And yes, I am interested in restoring the concept to benefit Australians.
Cheers
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Well, ‘SHAZZA’ has left the country for darkest, deepest SE Asia and that was the last man standing.
Why doesn’t JORDON just grow a pair and fess up to the staff that it’s All Over, Not a chance, Get on with your lives.
Before I’m inundated with “it’s not the responsibility of the Provisional Liquidator”, these smartarse ex-airline middle manager types take on an ego driven CEO gig yet are responsible to No One and don’t give a **** about the stress and pain they inflict upon their staff.
I’m sure there would be a couple of experienced pilots there that were not at all surprised, but at the same time there would be wide eyed cabin crew & ground staff who drank the coolaide & rearranged their lives around their new found jobs.
It just ****s me, after 40yrs of flying airline transports here & OS, we all knew BONZA was doomed, and would leave another wreckage of working lives on a heap, out of pocket too I’m sure.
Why doesn’t JORDON just grow a pair and fess up to the staff that it’s All Over, Not a chance, Get on with your lives.
Before I’m inundated with “it’s not the responsibility of the Provisional Liquidator”, these smartarse ex-airline middle manager types take on an ego driven CEO gig yet are responsible to No One and don’t give a **** about the stress and pain they inflict upon their staff.
I’m sure there would be a couple of experienced pilots there that were not at all surprised, but at the same time there would be wide eyed cabin crew & ground staff who drank the coolaide & rearranged their lives around their new found jobs.
It just ****s me, after 40yrs of flying airline transports here & OS, we all knew BONZA was doomed, and would leave another wreckage of working lives on a heap, out of pocket too I’m sure.
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Always risks with new startups. If you look at past attempts, local and overseas, the state of any startup is vastly different from the start to say a decade later. Many simply don’t make it. Those who are powered by a mothership in the same industry, generally survive, or, merge/close with the parent/other subsidiaries, and crew manage to survive. Tiger was a basket case and only survived simply because of who its parent was. Any other sane investor would have dumped it long ago.
Look. It was an attractive option for crew when it started. Certainly an attractive lifestyle. Many simply hate Virgin and don’t want a bar of it, it’s a toxic mess, operations normal, so this presented an option. Virgin FOs who have been around for a bit, are facing lengthy waits in the RHS, this gave them an option to move over in under a year.
Domestic Narrowbody with QF Mainline, VA, JQ will always be the most secure and stable job. Unfortunately that comes with the politics of ego run flight ops departments, and long waits for an upgrade. Gotta be a trade off I guess.
So what is the answer then? Well simply stay away from startups. Be mindful listening to fluff from Branson wannabes also.
Look. It was an attractive option for crew when it started. Certainly an attractive lifestyle. Many simply hate Virgin and don’t want a bar of it, it’s a toxic mess, operations normal, so this presented an option. Virgin FOs who have been around for a bit, are facing lengthy waits in the RHS, this gave them an option to move over in under a year.
Domestic Narrowbody with QF Mainline, VA, JQ will always be the most secure and stable job. Unfortunately that comes with the politics of ego run flight ops departments, and long waits for an upgrade. Gotta be a trade off I guess.
So what is the answer then? Well simply stay away from startups. Be mindful listening to fluff from Branson wannabes also.
Last edited by nomess; 20th May 2024 at 00:36.
Well, ‘SHAZZA’ has left the country for darkest, deepest SE Asia and that was the last man standing.
Why doesn’t JORDON just grow a pair and fess up to the staff that it’s All Over, Not a chance, Get on with your lives.
Before I’m inundated with “it’s not the responsibility of the Provisional Liquidator”, these smartarse ex-airline middle manager types take on an ego driven CEO gig yet are responsible to No One and don’t give a **** about the stress and pain they inflict upon their staff.
I’m sure there would be a couple of experienced pilots there that were not at all surprised, but at the same time there would be wide eyed cabin crew & ground staff who drank the coolaide & rearranged their lives around their new found jobs.
It just ****s me, after 40yrs of flying airline transports here & OS, we all knew BONZA was doomed, and would leave another wreckage of working lives on a heap, out of pocket too I’m sure.
Why doesn’t JORDON just grow a pair and fess up to the staff that it’s All Over, Not a chance, Get on with your lives.
Before I’m inundated with “it’s not the responsibility of the Provisional Liquidator”, these smartarse ex-airline middle manager types take on an ego driven CEO gig yet are responsible to No One and don’t give a **** about the stress and pain they inflict upon their staff.
I’m sure there would be a couple of experienced pilots there that were not at all surprised, but at the same time there would be wide eyed cabin crew & ground staff who drank the coolaide & rearranged their lives around their new found jobs.
It just ****s me, after 40yrs of flying airline transports here & OS, we all knew BONZA was doomed, and would leave another wreckage of working lives on a heap, out of pocket too I’m sure.
Agree with your feelings around middle managers, people’s lives have been put on hold because they believed the lies from day 1 and became sacrificial lambs. Any bids were due Friday so it’s likely to wrap up soon enough.
Did you 'run the numbers' on your Commodore 64 and send a Telex that Virgin Atlantic is doomed from the start back then too?
Last edited by antheads; 20th May 2024 at 04:00.
Branson personally has made money from it. As did Godfrey. Quite a bit also.
Virgin has been lucky in that it got market share very early on, that market share has been key to future buy ins, and the reason why PE firms are involved today to milk the cow.
Tim Jordan had a financial share in the Bonza dream from what was reported, only a few million. Obviously sell off later and take the windfall. Likely a bit too late to that party.
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As I pointed out earlier, back the right horse with a start up and you can expect a quick upgrade and a high seniority number. If you back the wrong one then it's fingers crossed that you got enough time on type to be employable and covered any training costs you incurred.
Ideally you want a company with some serious money or a major airline behind it. However even with Richard Branson's backing, Virgin Blue only avoided going under because Ansett went bust.
Start ups don't have a good record in Australia, Compass 1&2 didn't last long, Impulse would have gone under if QF hadn't acquired it, Flight West were lucky to get taken over and Tiger Australia was a flash in the pan.
MinRes seems to be a good bet with a mining company operating its own aircraft, financially secure and not subject to travel whims or competition. Mines need reliability and safety and are willing to pay for it.
Ideally you want a company with some serious money or a major airline behind it. However even with Richard Branson's backing, Virgin Blue only avoided going under because Ansett went bust.
Start ups don't have a good record in Australia, Compass 1&2 didn't last long, Impulse would have gone under if QF hadn't acquired it, Flight West were lucky to get taken over and Tiger Australia was a flash in the pan.
MinRes seems to be a good bet with a mining company operating its own aircraft, financially secure and not subject to travel whims or competition. Mines need reliability and safety and are willing to pay for it.
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Microphone drop
On 21 May 2024, the Administrators were informed by 777 Partners, who we understand to be the ultimate holding company of Bonza and 777 Holdco domiciled in the United States, that it may wish to propose a Deed of Company Arrangement (DOCA) to restructure the Companies as a group. The Administrators have not yet received a proposal for a DOCA from 777 Partners.
On 21 May 2024, the Administrators were informed by 777 Partners, who we understand to be the ultimate holding company of Bonza and 777 Holdco domiciled in the United States, that it may wish to propose a Deed of Company Arrangement (DOCA) to restructure the Companies as a group. The Administrators have not yet received a proposal for a DOCA from 777 Partners.
They wet lease Skytraders A319 now, but will have A320s they own soon.
https://careers.mineralresources.com...-perth-airport
https://careers.mineralresources.com...-perth-airport