PNG Air
 

Anyone know the latest on PNG Air?

when I left they were trading insolvent and based on number of flights must be getting worse?


why haven’t the CEO and Chairman been arrested or don’t insolvency rules apply?

I know there were previous threads but couldn’t find them

1. It's PNG
2. The CEO is actually the COO's glove puppet.
3. It's PNG.

Re the above;
1. It's PNG
2. The CEO is actually the COO's glove puppet.
3. It's PNG
4. PNG is the "land of the unexpected"

If you were not aware of the 4 keys factors; then I assume you were with PNG Air for only a very short time.

WallyDunc,

USE THE SEARCH !

https://www.pprune.org/australia-new...hlight=PNG+Air

Mumbai,

I felt point 4 was covered by points 1 and 3, but happy if you want to be more explicit......

The definition of insolvency includes the phrase "unable to pay it's debts as and when they become due". Whilst the entity may have a negative net worth, provided they are paying the bills on time they may not technically be insolvent. And if the creditors are being paid, why would they seek a Court determination the entity is insolvent?

A Government owned entity may also be protected from insolvency by legislation, guarantees or grants.

And of course, as others observed, it is in PNG, the Land of the Unexpected.

Rumours in Port Moresby that the lessors of PNG Air’s ATR-72s have filed a notice of default as the first step of a repossession.

PNG isn’t really the “Land of the Unexpected”, if you know in advance that any plan, trip, normal social, or business, transaction will be fu*ked up by somebody not doing their job or doing it incorrectly or simply not turning up and that everything will all go to ****; then, is it really unexpected? The slogan really should be something along the lines of “PNG, Fu*cked Up and you’ve just got to laugh, or you’ll go insane”.

Rem acu tetigisti.

Interesting about the lessor of the ATR's. I was told there was no lease and PNG Air paid by the hour so long as there was a minimum number of hours flown. ATR were so desperate to have an under performing aircraft in hot and high operations. Having to turn south then overfly POM prior to setting course northbound in a loaded ATR suggests poor planning by management.
I think they have two unairworthy Dash 8-100's which will never fly again.

"Duck Pilot" has been very quiet lately

It would suggest that the DME departure is quite steep. Makes sense to go south all the time climbing to make the steps northbound.

I think it would be reasonable to assume that the ATR airframes aren’t doing much flying, couple this with a depressed domestic RPT market and an aggressive competitor, it’s probably a reliable rumour that the leasing company want their Kina shells back nau.

I’m sure the other competitors would be sharpening up their pencils in order to grab the corporate clients that PNG Air currently have if it all goes belly up.

If it does all goes to crap, it will be due to COVID - 19, NOT bad management. They had/have their management problems however the management team actually done a good job considering the circumstances. There have been worse around, some of whom are still in business.

No, apart from not paying the leasing company for several months, apart from lying to the leasing company (and other creditors), apart from telling all the staff the leasing company are going to give you the tens of millions in maintenance reserves back as liquidity, apart from lying to the main corporate clients, apart from letting the chairman of the board run the place by proxy whilst he waits for his embezzlement trial, apart from running sales when every flight had to break even to slow down cash burn. Apart from all the other stuff that doesn't really need to be aired, yep, definately not bad management.

COVID - 19 triggered the current problems, if it never occurred the airline would be still operating in the same manner that it was this time last year, like most other airlines who have been negatively affected by the Pandemic.

Everyone is entitled to their own opinions, whether they are right, wrong or anything in between.

Actually, it would probably be operating better, going into COVID it was very much on an upward trajectory. Yes, COVID has had a massive impact, but it is not correct to say there hasn't been bad management. In most cases its been a bit bizarre, in others downright disingenuous.

not correct it’s a normal lease with maintenance reserves which are based on hours cycles and monthly charges

No way would DAE return maintenance reserves if they aren’t being paid leases.

The ATR is often operating up against its performance limits in PNG, as it does in many other parts of the world. But it gets the job done at a minimal cost. It carries more than a Dash, sips less fuel than a Dash and cruises faster than a Dash and can carry nearly as many people as a F70. But it can be challenging for the pilot who is unaware of its perf limits and who doesn't have an alternative strategy. But then we all do, don't we?
If they go down the gurgler it will not be because of the ATR, they market it very well and it does sell itself with an outstanding paint scheme and smart looking crew. But rather any demise will fall squarely on to the shoulders of bad self serving managers (expatriot and National) who have had their snouts deeply buried into what is (relative to PX) a fairly shallow trough.

https://cimg2.ibsrv.net/gimg/pprune....d87fba37c9.jpg
Paint scheme is interesting.

Someone must have reduced the bride price!

https://www.businessadvantagepng.com...iness-stories/

New CEO required
 

Rumour has it CEO got the chop

Nothing trivial I hope, plenty of backs with knife wounds since he arrived.

https://www.looppng.com/business/png...resigns-100739

Stanley is now the boss man👍👍👍👍👍👍

Good news.

He has a massive job ahead of him.. good luck.

Is there any expats left?

Changes
 

Hopefully they will recruit a CFO to back him up. Great choice as CEO.

Don’t think there’s many ex-pats left.

Ah, but will he be allowed to perform his duties without interference?

Is this the Stan who used to work in Ops in the late 90's?