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I believe that was Korea.
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Maybe they should set up Jetstar North Korea operation... and see how far they get with that too, well while they are in the neighbourhood.
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Dont be suprised if this venture is fully supported by the Chinese while the money is being transferred to China. :ugh:
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Why doesn't he make sure the mother of all Jetstar franchises, Jetstar Asia, makes money first?
Cookies must be enabled. | The Australian After launching a firesale of SGD270 ALL UP one way BUSINESS CLASS on SINPEK, JQ has since reduced SINPEK to 5 weekly (SQ is 28 weekly) and cut AKL to 3 weekly for some weeks in June (back to 4 weekly after that while SQ is daily to CHC and double daily to AKL) In Singapore, Joyce had himself a very supportive government and airport authority, plus a home airline that was for too long only too happy to cede marketshare to Jetstar and other airlines. And he still can't make money. In the meantime, the home airline has decided to add 471 seats a day to London through capacity and frequency increases(equivalent to adding an additional A380 per day) in response to QF cutting 2 flights a day to London. The home airline unleashed Scoot, flooding SYD, BKK, Tianjin, Taipei and Tokyo with thousands of seats a day in the next few months. If Jetstar Asia could not make money in SIA's years of retreat from 2004 to 2010, how are they going to make money now that SIA has woken up? I guess from Singapore's perspective, Qantas Group brings in millions of tourists per year to boost tourism spending. QF should become one of the constituent charities under Singapore's Community Chest, for their charitable works to the Singapore economy for nearly one decade. But no - Jetstar Asia may not make money but fear not, revenue from Jetstar Japan is now rolling in faster than expected. I'm not even Australian and this makes me angry. I can only imagine how you Aussies actually feel! Qantas chief Alan Joyce sets Asian expansion hopes on Jetstar HK joint venture BY: MICHAEL SAINSBURY AND STEVE CREEDY From: The Australian June 12, 2012 12:00AM Increase Text Size Decrease Text Size Tweet this QANTAS chief Alan Joyce says the China market is a huge opportunity for the company as it builds up its Jetstar Hong Kong joint venture with China Eastern as part of a plan to become the dominant low-cost carrier in Asia. Mr Joyce said Jetstar had more planes after seven years than European low-cost pioneer Ryanair did at the same stage in its development, and aimed to be as big as his old employer in coming years. He admitted the Singapore-based Jetstar Asia venture would lose money this year on long-haul routes but said revenue was coming more quickly than expected into its low-cost Japanese start-up. Jetstar has committed $64 million to the Japanese operation it owns with Oneworld partner Japan Airlines and Mitsubishi. "We have a smaller shareholding (33 per cent) because of the law," Mr Joyce said. "Revenue is coming in sooner than expected." But the huge opportunities in Asia lay in China, already the world's second-biggest airline market and set to rival the US in the next decade. "We believe there are three big markets in China: premium, low-cost, cargo," Mr Joyce said. "For premium we need to turn around Qantas International before we can grow it again. We made a commitment to shareholders we won't put more capital or aircraft into it until it gets to break even and is returning costs over the next three years." Meanwhile, Qantas's operations to mainland China are limited to just one flight daily from Sydney to Shanghai and the more profitable three cargo flights from Australia to China and then the US and back to Australia. "We're looking at enhancing (code-sharing) further and working a lot closer with China Eastern," Mr Joyce said. In the interim, Jetstar is committing $99m in capital to its 50-50 Jetstar Hong Kong venture with China Eastern. Qantas is optimistic that a new Hong Kong government, a reconfiguration of government departments and review of aviation regulation will work in its favour. It hopes that will clear the way for approvals for the airline to progress more quickly and says it has been getting strong local support. Mr Joyce said the biggest resistance was coming from the pilot union, which was paying a consultant to lobby against the move. He said the airline had gone through regulatory approval processes several times and had a team that was dedicated to the process. It had teamed up with local partners because they knew the local market and Jetstar had taken a comprehensive view of getting as many stakeholders behind it as it could. "We're optimistic, so we're still on plan for the middle of next year," he said. Both China Eastern and Jetstar have started allocating people to the project and the airline is already looking at issues such as aircraft allocation, AOC requirements and recruitment. There was also a commercial team looking at routes and Mr Joyce said the airline could also allocate its Jetstar Japan start-up team to the project after the airline launched next month. |
Mr Joyce said Jetstar had more planes after seven years than European low-cost pioneer Ryanair did at the same stage in its development, and aimed to be as big as his old employer in coming years. |
"and aimed to be as big as his old employer (Qantas) in coming years"
I don't see the inaccuracy. |
He admitted the Singapore-based Jetstar Asia venture would lose money this year on long-haul routes but said revenue was coming more quickly than expected into its low-cost Japanese start-up. "For premium we need to turn around Qantas International before we can grow it again. We made a commitment to shareholders we won't put more capital or aircraft into it until it gets to break even and is returning costs over the next three years." |
Jetstar Hong Kong - Slow Going.
As I have repeatedly said, Qantas/Jetstar doesn't have a snowballs chance in hell of making money out of the Middle Kingdom. Nobody who is not Chinese is allowed to profit from the Chinese people.
Jetstars regulatory woes will continue until: (a) Its Chinese competitors have made suitable commercial arrangements to compete with it. (b) The Chinese Government decides it has extracted maximum benefit (Money, Fees, bribes(?), concessions) from the delay. At that point Jetstar will be asked to invest more money to "secure" its commercial future in China. Qantas will do so. Some time, perhaps a few years after, Jetstars Chinese partner will take ove rthe wreckage for a few cents in the dollar. I say again: NO ONE is allowed to make money out of the Chinese people except other Chinese. and Yes, I know about the Swire Group, but they have been there for 200+ years. JETSTAR'S attempt to gain regulatory approval for its new airline in Hong Kong is likely to drag on for months, giving its competitors time to up the ante ahead of the planned launch in the middle of next year. Jetstar Hong Kong made its official pitch to regulators in July - four months after Jetstar's parent, Qantas, and joint venture partner China Eastern unveiled plans for the new airline - in the form of an application for an air operator's certificate, or licence to operate commercial flights. The airline's backers will not say when they expect a response from Hong Kong's Civil Aviation Department, but sources in China say the final decision will ultimately rest in Beijing and will take some time. Although Jetstar Hong Kong has the advantage of China Eastern lobbying on its behalf, the mainland airline has a vociferous opponent in Air China, which is a cornerstone shareholder in Cathay Pacific. Advertisement An analyst at CIMB Securities in Hong Kong, Andrew Orchard, said he expected it to be a few more months before the regulators made a decision. ''It seems that, internally [at Jetstar] at least, they are fairly confident that it will go through.'' Jetstar Hong Kong faces competition from Cathay Pacific and other airlines in the region, as well as the challenge of operating at an airport that has not been set up for budget airlines. China's Spring Airlines has also raised the possibility of setting up an offshoot in Hong Kong. Cathay Pacific has highlighted in regulatory filings that it is ''possible that conditions may be imposed on any approval given in Hong Kong'' for the new competitor. Its short-haul offshoot, Dragonair, will spearhead the group's counter-offensive. Dragonair has added six Airbus planes to its fleet this year to meet the needs of its expanding network. ''We have added a total of eight destinations to our network this year, and more are coming up in early 2013, including Zhengzhou, China and Yangon, Myanmar,'' a Dragonair spokesman said. The Jetstar Group has a project team in place in Hong Kong, which is being led by Nick Rohrlach, an executive manager of strategy at the budget airline. It is well on the way to hiring the first batch of 50 pilots needed for the launch of Jetstar Hong Kong, and it recently began recruiting flight attendants. China Eastern's vice-president, Tang Bing, has been named chairman of Jetstar Hong Kong's six-member board, which includes two Jetstar representatives in Jayne Hrdlicka and David Koczkar. Jetstar Hong Kong will begin operations with three A320 aircraft, before expanding to a fleet of 18 within three years. It will initially fly to greater China, Japan, South Korea and south-east Asia. Read more: Slow take-off for Jetstar HK |
"Nobody who is not Chinese is allowed to profit from the Chinese people."
What about Volkswagen. And Buick. Or McDonalds. Starbucks. They are not growing in China for nothing I would have thought. |
Qantas can barely even make money in Jetstar Asia where:
1. SIA deliberately went into retreat from 2003 to 2010 and did not fight 2. The Singapore government was a cornerstone investor 3. The Singapore government overlooked the fact that Jetstar Asia was de facto 100% controlled by a foreign airline, and gave it a Singapore AOC and lobbied for Jetstar Asia to foreign governments as if it was a Singaporean carrier 4. Load factors are well over 80% Good luck to making Jetstar HK work. |
QANTAS barely seems to be able to make any airline work anywhere which is why they have outsourced all the flying to EK. QANTAS - the world's first virtual airline.
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Hong Kong Halts Processing Applications for New Airline Licenses
As expected.... if Jet Star wish to play in the back yard of another country, they really should do a bit more research on the Governments regulatory requirements. Let face it.... CX management sit at the same table as the law makers. They were never going to let this happen. |
Of course AJ assumed he could waltz into Kitty City and just start an LCC and attempt to take away some CX's cream? Fool. AJ will need to be anointed as a Swire Prince before he pulls this one off.
Now, where will he try next? Russia, Maldives, Alaska........ |
Yay!!! Lets all rejoice in the news that an Australian company has failed so spectacularly and hope that no future Australian company tries to expand overseas. Much better to sit around here and watch the aviation industry be handed to the likes of Emirates, Ethiad, China Southern etc.
Even better, lets hope Qantas goes down the drain so we can truly celebrate ........ |
No-one is celebrating here Ollie, particularly as the calibre of our "leadership" is yet again so graphically illustrated. :ugh:
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Correct, as i said in another thread, AJ would need to be a Swire prince before successfully pulling off such an audacious plan. CX, Swires and the Hong Kong Regulator decide who they will allow to operate. Didn't anybody tell AJ about the 'cultural business differences'? Thought he may have learned his lesson from the Vietnam fiasco? Perhaps he should send the two Kiddies from Nam over to Kitty City to sort it out? Then again, I believe they are still held in protection under lock and key down in Mascot.
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There wouldn't be too many on this forum that wouldn't like to see the qantas group expand and increase pilot opportunities. Although in the case of jetstar ventures the opportunities are going offshore. Many on these forums drew attention to the exact issues qantas would face in obtaining an AOC for jetstar in HKG.
The latest media release by the HKG government highlights the total ineptitude of the qantas management who it would seem didn't do due diligence. AJ promises much, ie. qantas red, jetstar HKG but before making the big announcements surely a little more planning should be undertaken. |
Jetstar HGK is coming.....?
As sad as it was, hard not to laugh when you see the 'Jetstar is coming' bill board in the middle of Hennessy rd Causeway bay.
AJ & co ..... incompetent....wasting money before a deal even remotely had a chance. "There wouldn't be too many on this forum that wouldn't like to see the qantas group expand and increase pilot opportunities. Although in the case of jetstar ventures the opportunities are going offshore" .....on decent pay and conditions though.... |
Transport and Housing Bureau
Playing with the big boys now AJ. (Just noted the link was imbedded in the Bloomberg report. Will leave here anyway.) |
Book it all to Qantas International. Use it as an excuse to ditch more routes.
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Hong Kong do as their told from Beijing . Airlines of china slowly taking over Cathay and china eastern not wanted on their future patch . Connect the dots from there and the picture becomes clear .
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TM
Originally Posted by Toruk Macto
Hong Kong do as their told from Beijing . Airlines of china slowly taking over Cathay and china eastern not wanted on their future patch . Connect the dots from there and the picture becomes clear .
Regarding CX's ownership, while CA owns 30% of CX, CX also owns 20% of CA. It is unlikely that this will change any time soon, i.e. the next 10 years at the earliest. Posted from Pprune.org App for Android |
Fantastic to see Red Q & JQ HK are finally "Exploiting Asian Markets".
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Announced today another partner onboard.
So this means Qantas has a third of the business. Interesting. Jetstar Hong Kong welcomes Shun Tak Holdings Ltd as a New Investor |
On a slightly different but related topic, the WA mining boom is now officially over because Alan has said it's not.
QANTAS chief executive Alan Joyce said the national carrier saw no signs of an end to the mining boom in Western Australia. |
Just saw the annoucement has been posted. DELETED.
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from GG's link:
Jetstar Hong Kong welcomes Shun Tak Holdings Ltd as a New Investor AustraliaHong Kong 06 June 2013 more
Shun Tak has taken an equal third share in Jetstar Hong Kong along with existing partners Qantas Group and China Eastern Airlines. As the new partnership was cemented, Jetstar Hong Kong Chief Executive Officer Edward Lau said “We are pleased to welcome Shun Tak to the new venture.” “Shun Tak’s long history in tourism and transportation businesses will further deepen the experience behind Jetstar Hong Kong,” Mr Lau said. “As Hong Kong’s only local low fares airline, having a strong local partner in Hong Kong like Shun Tak, who understands the revolution we want to bring to Hong Kong air travel, is of great benefit. “We see enormous potential for a local LCC in Hong Kong and our low fares model will stimulate a new market, bringing significant opportunities to Hong Kong’s local tourism sector and our broader economy.” Jetstar Hong Kong will complement Shun Tak’s extensive transportation and tourism portfolio. “It has long been our vision to create an air-sea-land network that seamlessly connects the Pearl River Delta and facilitate its integration, under the spirit of Guangdong, Hong Kong and Macau development blue print as part of the Central Government policy. We believe a low-cost airline will be most efficient in driving growth across the leisure sector, and bring benefits to the complete visitor economy for Hong Kong, as well as contribute to the sustainable development of Hong Kong as the top aviation hub,” commented Ms Pansy Ho, Managing Director of Shun Tak Holdings Limited. The new shareholding structure will not affect Jetstar Hong Kong’s planned capitalisation of a maximum of HKD1,544.4 million (USD198 million). Jetstar Hong Kong is progressing with regulatory approvals and is confident of approval before end of 2013. The airline is led by a local management team with its head office overlooking Hong Kong International Airport. By the time it operates a full fleet of 18 A320 aircraft in 2015, Jetstar Hong Kong will employ a local team of 600 people, plus its local suppliers will create hundreds more jobs. Jetstar Hong Kong intends to fly to destinations within five hours of Hong Kong and is considering destinations in Southeast Asia, Japan, South Korea and Mainland China. For more information please contact Jetstar Corporate Communications Shun Tak Holdings Limited (信德集團有限公司) (SEHK: 0242) is a public company incorporated in 1972. It has been one of the constituents of the Hang Seng Hong Kong MidCap Index since 11 September 2006. The company's founder and executive chairman is Stanley Ho. His daughter Pansy Ho serves as managing director[1] with two of his other daughters, Daisy Ho Chiu-fung and Maisy Ho Chiu-ha, as executive directors as well as David Shum.[2] The company is active in shipping, property, hospitality and investments businesses. Its shipping division, operating under the name of TurboJET, operates ferry services between Hong Kong and Macau. Until late 2010, Stanley Ho controlled the company. An 11.55 per cent stake in Shun Tak was transferred by Ho to Hanika Realty, a company controlled by second wife Lucina Laam and his five children with her. The transfer made Hanika Shun Tak's biggest single shareholder.[3] This looks like a "tribute" payment to a local Chieftain ensuring "smooth passage" of the application. |
Yet no news in the Oz about J* HKG struggling. I wonder why that is? Surely Steve isn't waiting so its buried in the aviation section tomorrow? :=
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Stanley Ho’s Shun Tak Acquires Stake in Jetstar Hong Kong By Jasmine Wang - Jun 6, 2013 10:21 AM ET Qantas Airways Ltd. (QAN) and China Eastern Airlines Corp. (670)’s Hong Kong budget airline venture sold a stake in their airline to a company founded by billionaire Stanley Ho, which will help pave the way for an operating license. The low-cost carrier, called Jetstar Hong Kong, sold a 33.3 percent stake to Shun Tak Holdings (242), Sydney-based Qantas said in a statement today. Qantas and China Eastern will hold 33.3 percent each, according to the statement. The total capitalization of Jetstar Hong Kong remains unchanged at $198 million. With the addition of the partner, Qantas group cut its initial planned equity investment to $66 million from up to $99 million. China Eastern and Shun Tak will also contribute up to $66 million each, the statement said. A local investor may help Jetstar Hong Kong win operating license from the local government. Failure to get the permit has delayed the venture’s operations, damping Qantas Chief Executive Officer Alan Joyce’s move to tap travel demand in China with a discount carrier. According to the city’s basic law, the local government has the authority to issue licenses to airlines incorporated in Hong Kong and having principal place of business in the city. Shun Tak’s biggest shareholders include firms owned by Ho’s daughters and himself. Its business range from property development, ferry services between Hong Kong and Macau, hotels and investment. Chinese Cities Jetstar Hong Kong will focus on flying to secondary Chinese cities, Qantas Chief Executive Officer Alan Joyce said in April. The airline will have about 18 aircraft, he said. The first Hong Kong-based budget airline will offer 50 percent lower airfares on average than those by full-service carriers, Jetstar Hong Kong Chief Executive Officer Edward Lau said in February. The new venture targets its first flights by the end of this year with two Airbus SAS (EAD) A320s, China Eastern vice chairman Ma Xulun said in March. Previously, the budget carrier aimed to start services as early as this month with three A320s. No budget carrier has a hub at Hong Kong Airport. Hong Kong Express, an affiliate of Hong Kong Airlines, has said it will convert to a low-cost model. Oasis Hong Kong Airlines Ltd., which operated budget long-haul flights, collapsed in 2008 after racking up losses of about HK$1 billion ($129 million) in less than two years. To contact the reporter on this story: Jasmine Wang in Hong Kong at [email protected] To contact the editor responsible for this story: Anand Krishnamoorthy at [email protected]. |
Ho's, Pansy'a and Wangs??
And QF will pay through the nose for this. They needed somebody to help them save face because Orangestar was never going to cut it alone, and wee man needs to save face. I am sure that there will be many robust money transactions involved in this one, no doubt the QF shareholders will be at the bottom of the beneficiaries list, as usual.
Nice article. And some of the names mentioned, Wangs and Pansy Ho, perhaps relatives of some senior QF people??:E |
And QF will pay through the nose for this. |
I wonder which countries are moving to the front of the queue for the Leprechaun's next grand adventure? Jetstar India? Jetstar China? Jetstar Indonesia perhaps?
C'mon guys. The Leprechaun with the Messiah complex is looking to play, so if you want to get your hands on some of "struggling" mainline's hard-earned, just stroke the ego of the QF management genius and the cash will soon start rolling in. |
BB reckon you are spot on because it wont be disclosed until it has to be written off and this buys them even more time.
How long can this go on for?? |
When o when are THEY going to get rid of these F*** W**s
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History will show that is never going to happen until
1. Chairmans lounge closes. 2. Board is held accountable. 3. Major fund managers stop taking the spin. 4. All 3 of the above happens. It beggars belief that the constant changes in plans is never questioned by anyone, why....refer above. |
Stanley Ho - Wikipedia, the free encyclopedia
In Australian terms, Mr Stanley Ho would be described as a "colourful racing identity" Making his fortunes is gambling, seems his JQ HGK folly is an extension of his past activities. MC |
There wouldn't be too many on this forum that wouldn't like to see the qantas group expand and increase pilot opportunities. |
Does Stanely still have interests in Hong Kong express ? What's the relationship between him and the Hainan group who own HKA ?
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There was an article in today's Apple Daily (unfortunately in Chinese) in Hong Kong, with Hong Kong Chief Executive CY Leung being quoted as saying that he doesn't think LCCs add much to the economy, and he's against giving Jetstar Hong Kong an AOC.
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DrPepz, translate.google.com made short work of the apple news article: http://hk.apple.nextmedia.com/news/f...30607/18287961
How did it do? Pansy gamble engage low cost airlines WASHINGTON bet after Pansy Ho Shun Tak Holdings held spent over $ 500 million stake in Jetstar Hong Kong, trying to challenge Cathay Pacific Hong Kong dominated, but the master of the aviation industry insider sources, CY Leung oppose licensing that low cost airlines for contribute little to the economy, the future is uncertain Pansy involved in aviation business, this shop always betting on the wrong note. Reporter: Lu Zhuo Wu Yongqiang were Qantas subsidiary Jetstar cheap Air Group, following in Tokyo, Singapore and Vietnam have established a headquarters last year after July joint venture with China Eastern Airlines HK $ 1.544 billion Hong Kong set up Jetstar, based in Hong Kong to enter the mainland market, but the absence of shareholders in Hong Kong , was questioned non-principal place of business, the Government does not match the licensing requirements, it has been a minor thing. Jetstar Hong Kong, one of the shareholders of China Eastern Airlines, a number of high-level meetings last year, and Leung Chun-ying, was encouraged to invest in Hong Kong. Spend over $ 500 million stake in Jetstar Hong Kong held a press conference yesterday to announce Shun Tak Holdings shares for $ 66 million (approximately HK $ 515 million), with each one-third of existing shareholders equity. Pansy Ho, Managing Director of Shun Tak said, investing mainly optimistic about its prospects of low cost airlines, low cost airlines refers to the global aviation industry trends, but also for the public to provide more travel choices and bring economic benefits. Jetstar Hong Kong has not licensed, the city passed by the holders of Cathay Pacific obstruction Pansy yesterday stressed the intention to challenge Cathay Pacific, "Nuisance eligibility challenges, but also she has no need to challenge Drainage (CPA)." But she must've said: "I Do not believe it generous full-Asia's most important airports, Well you can accommodate more than one airline." Ho early in the aerospace industry has invested Air Macau and Hong Kong Express, but the results are not ideal. Jetstar Hong Kong chief executive, said Edward Lau as eligible before the end of the license, the fastest into service early next year, will cover operational early routes from Hong Kong 5 hours voyage locations such as Southeast Asian countries, Japan, South Korea and mainland China, promised fare "minimum ratio opponents flat five percent. " He said the first phase of a three Airbus A320 flights will later purchase and lease 18 new Airbus A320 aircraft operations, others employ approximately 1,000 employees, has received more than 2,500 pilots and 600 flight attendants applications. According to the aviation industry estimates, an airline early opening, assuming operating three aircraft, fuel costs, airport charges, staff costs, etc., burn about $ 20 million per month. Delay unlicensed Jetstar sail is unknown when Hong Kong, Liu said yesterday in accordance with government requirements continue to submit additional information, are confident that the end of the year was a license. He was referring to existing shareholders in Hong Kong Hong Kong Jetstar, seven members of the Board that there were four people of Hong Kong identity management are all Hong Kong people have to meet the "Basic Law" provisions and licensing requirements. Jetstar plan may come to nothing, however, told us that the aviation industry, Cathay Pacific to pressure the government, non-Jetstar Hong Kong is not a license key factor because the Transport and Housing Bureau preliminary assessment that the new low cost airlines company can stimulate competition and improve the overall services, it will not increase the load of airport facilities, the support licensing. Chief Executive: little contribution to Hong Kong But against all the odds, but CY Leung, it is understood within the government meeting he said that freedom rights is an important economic asset, our airport facilities are limited, and the low cost airlines passengers non-high consumer group, contribute little to the economy of Hong Kong, indicating disapproval licensing. Secretary for Transport and Housing Anthony yesterday unanimously agreed, saying the new government is a comprehensive review policy before the completion of the review, will not deal with the application for the designated airlines of Hong Kong, meaning not bother Jetstar to Hong Kong. Leung Chun-ying of aviation industry on the licensing of low cost airlines do not feel angry, "Mr Leung in Hong Kong since the system must be reduced competitiveness." According to the information, low cost airlines account for only 5% of the local market share, Chinese University of Aviation Policy and Research Center, deputy director kwok said that the new low cost airlines and passengers benefit to the economy, the introduction of Jetstar Hong Kong shareholders, operational interests of Hong Kong as the first, it would have met " principal place of business in Hong Kong ", should be licensed, or at any time subject to judicial review challenge. Cathay Pacific said no objection low cost airlines operating in Hong Kong, referring to a number of low cost airlines Cathay Pacific and compete with confidence the Government review the application, will be "Basic" in mind, safeguard interests of Hong Kong. Hong Kong Airlines president Yang Jianhong said: "do yourself, regardless of others." |
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