more TESNA tap dancing?
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Edited by Boeing Belly so as to ensure observations about the usefulness or otherwise of the Cadet Scheme does not upset my good mate Keg. <img src="wink.gif" border="0">
[ 21 February 2002: Message edited by: Boeing Belly ]</p>
[ 21 February 2002: Message edited by: Boeing Belly ]</p>
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Fri "Herald Sun"
Ansett sale to go down to wire
By IAN ROYALL, aviation reporter. .22feb02
THE $453 million sale of Ansett will go down to the wire after a further court delay yesterday.
. .The administrators were due to present the final sale documents to the Federal Court this morning, but the hearing has been moved to Monday afternoon. . .It now seems likely the handover to the Tesna consortium of Lindsay Fox and Solomon Lew will not occur until close to the Thursday deadline.
A statement from the administrators, Mark Mentha and Mark Korda of Andersen, blamed third parties for the delay to the sale process.
It is believed final documentation on terminal and plane leases were still being worked on.
Industry regulator, the Civil Aviation Safety Authority, also needs at least four days' notice to complete the transfer of the air operator's certificate to Tesna.
Last night, CASA had not yet been notified of the intended changeover.
The latest developments come as Qantas boss Geoff Dixon predicted the return to three full domestic airlines would herald an airfares bloodbath.
Mr Dixon said the domestic market was down by 10 per cent from this time last year.
"So there is plenty of room for someone to come in and drop the fares and cause the inevitable bloodbath," he said.
Ansett sale to go down to wire
By IAN ROYALL, aviation reporter. .22feb02
THE $453 million sale of Ansett will go down to the wire after a further court delay yesterday.
. .The administrators were due to present the final sale documents to the Federal Court this morning, but the hearing has been moved to Monday afternoon. . .It now seems likely the handover to the Tesna consortium of Lindsay Fox and Solomon Lew will not occur until close to the Thursday deadline.
A statement from the administrators, Mark Mentha and Mark Korda of Andersen, blamed third parties for the delay to the sale process.
It is believed final documentation on terminal and plane leases were still being worked on.
Industry regulator, the Civil Aviation Safety Authority, also needs at least four days' notice to complete the transfer of the air operator's certificate to Tesna.
Last night, CASA had not yet been notified of the intended changeover.
The latest developments come as Qantas boss Geoff Dixon predicted the return to three full domestic airlines would herald an airfares bloodbath.
Mr Dixon said the domestic market was down by 10 per cent from this time last year.
"So there is plenty of room for someone to come in and drop the fares and cause the inevitable bloodbath," he said.
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One would not expect Mr D to say anything less - with a dark cloud looming over his toy at the moment.......and the media keep lapping it up, the media are like me at the casino.....come in spinner. <img src="tongue.gif" border="0">
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Don't know why this isn't more widely reported...
The big losses that AN is experiencing at the moment come from pre Sep 11 leases on terminals such as OOL, CNS and DRW that aren't being flown too, grossly overpriced IT licences, maybe the odd aircraft that isn't being flown, etc, etc. Bit like when Air NZ was running it - a little airline meeting the costs of a big one.
After FLEW take over the prices on some leases will fall between 40% to 75% (the ones that are negotiated, that is!), others will disappear. Probably not instant profitability, but should help them a lot.
This is what people probably mean when they say that on real costs (14 aircraft) the airline is break even at the moment, but the administrators are still losing the $6m/week.
It's going to be very, very tough out there for them in the market. That's cool. Either they will fall, or it will strengthen their mettle. All of you who've made something out of aviation, stop and take a look back at your own life.... Nothing big that's worthwhile is ever achieved without struggle, without setback.
That is, unless you have a vial of fairy dust in your back pocket, like so many expect management and the unions to have....
Cheers.
The big losses that AN is experiencing at the moment come from pre Sep 11 leases on terminals such as OOL, CNS and DRW that aren't being flown too, grossly overpriced IT licences, maybe the odd aircraft that isn't being flown, etc, etc. Bit like when Air NZ was running it - a little airline meeting the costs of a big one.
After FLEW take over the prices on some leases will fall between 40% to 75% (the ones that are negotiated, that is!), others will disappear. Probably not instant profitability, but should help them a lot.
This is what people probably mean when they say that on real costs (14 aircraft) the airline is break even at the moment, but the administrators are still losing the $6m/week.
It's going to be very, very tough out there for them in the market. That's cool. Either they will fall, or it will strengthen their mettle. All of you who've made something out of aviation, stop and take a look back at your own life.... Nothing big that's worthwhile is ever achieved without struggle, without setback.
That is, unless you have a vial of fairy dust in your back pocket, like so many expect management and the unions to have....
Cheers.
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Apparently Terry McCrann has written an editorial. .in to-days "Herald Sun" which I can't get a. .copy of to repost, this is what was on Airliners. .Net:. .Wirraway
Some disturbing articles in today's Herald-Sun indicating Tesna's relaunch will go down to the wire. And Fox/Lews buddy Terry McCrann article is titled"Ansett about to reach termination.Forever". McCrann is not a friend of a Tesna relaunch,that is well known but he clearly states AN are finished in this article and it could all unveil as sooon as today. He says the US backing has disappeared and that FLEW "are desperately trying to craft an exit strategy that minimises their losses". "there is no way -no way- they will buy Ansett and take it into a head-to-head battle with both Virgin and Qantas. "No deal with Virgin,no deal with the Marks". . .I write this not to be inflammatory. I am an unashamed QF fan but have no want to criticise AN and their proposed relaunch. The categoric nature of this article did attract my attention. Could it be so blunt if it was not basically correct? . .There appears to be no link to this article as it is editorial in nature. If someone can post the whole article, I think that would be helpful.
Some disturbing articles in today's Herald-Sun indicating Tesna's relaunch will go down to the wire. And Fox/Lews buddy Terry McCrann article is titled"Ansett about to reach termination.Forever". McCrann is not a friend of a Tesna relaunch,that is well known but he clearly states AN are finished in this article and it could all unveil as sooon as today. He says the US backing has disappeared and that FLEW "are desperately trying to craft an exit strategy that minimises their losses". "there is no way -no way- they will buy Ansett and take it into a head-to-head battle with both Virgin and Qantas. "No deal with Virgin,no deal with the Marks". . .I write this not to be inflammatory. I am an unashamed QF fan but have no want to criticise AN and their proposed relaunch. The categoric nature of this article did attract my attention. Could it be so blunt if it was not basically correct? . .There appears to be no link to this article as it is editorial in nature. If someone can post the whole article, I think that would be helpful.
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I'm fuming with News Limited for not putting. .the editorial on their "Herald Sun" site,. .there is no way I would have unloaded my. .QF shares if I had read that,any wonder the. .rise from $3.89 to a high so far today of. .$4.06, can only hope your right BB that it. .is a personal feud between McCrann & Solly,. .although McCrann seems to be putting his. .reputation at risk if this is what it is. .all about. I need a drink.
Wirraway
Wirraway
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Nose Wheel
Forum "Civil Aviation" and then " Ansett going,. .going....gone?"
<a href="http://www.airliners.net/discussions/general_aviation/index.main" target="_blank">http://www.airliners.net/discussions/general_aviation/index.main</a>
Wirraway
Forum "Civil Aviation" and then " Ansett going,. .going....gone?"
<a href="http://www.airliners.net/discussions/general_aviation/index.main" target="_blank">http://www.airliners.net/discussions/general_aviation/index.main</a>
Wirraway
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Strong words from McCrann.If he is correct Fox and Lew's reputation will be shattered, and if McCrann is wrong he should ask his mate Geoff for the job of chief bin emptier at Qantas!!!.
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If at the stroke of midnight Ansett is no more we will all move on and McCrann will be lauded as a genious. I f on the other hand the flights go out tommorrow, this pathetic excuse of a journo should hang his head in shame and print an apology for his whorish ethics and absolute inability to acknowledge that two of Australias' most successful businessmen know more about this deal than he does. Afterall, who are the mega-millionaires and who is the guy on wages pedalling his personel, vindictive venom?
Moderate, Modest & Mild.
I, too, am unable to find this editorial on the Sun Herald website - even using their search!
Obviously you HAVE seen it Boeing Belly (to have made your last post), so would YOU be kind enough to reproduce it here for ALL of us? [The term "hostile witness" comes to mind with this request
]
Obviously you HAVE seen it Boeing Belly (to have made your last post), so would YOU be kind enough to reproduce it here for ALL of us? [The term "hostile witness" comes to mind with this request
]
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Why do you think TJ exited the scene? Guess he knew what was coming.
Still can't understand why the two Marks ignored other interested parties that had money whether it was good or bad... and wanted to buy all of Ansett!
<img src="mad.gif" border="0">
Still can't understand why the two Marks ignored other interested parties that had money whether it was good or bad... and wanted to buy all of Ansett!
<img src="mad.gif" border="0">
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Whether they get going or not, one way or the other I suspect the 2 Marks are going to have to explain a numbers of things to many a court.. .It will an interesting read.