Flight West -SOLD-
Join Date: Jun 1999
Location: QLD, Australia
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Nothing on their web site yet, but the following is from aap;. .. .Today: Tuesday 19 March, 2002. . . . .Buyer found for Flight West . .. .Flight West creditors voted to sell the Queensland regional airline to an unnamed syndicate.. .. .Administrator Peter Geroff of Ferrier Hodgson said creditors overwhelming voted to sell the carrier as a going concern.. .. .He said a confidentiality agreement meant he was unable to reveal the make-up of the syndicate of four investors.. .. ."I can say it's a syndicate of both Australian and overseas investors who between them have substantial experience in the airline industry," Mr Geroff said.. .. ."They don't want to reveal themselves until the sale is actually concluded.". .. .Mr Geroff said the earliest anticipated settlement date for the sale is next Tuesday while the last possible date will be April 5.. .. .Story Posted: 19/03/2002 08:09:49 PM
Join Date: Jul 2000
Location: OZ
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</font><blockquote><font size="1" face="Verdana, Arial, Helvetica">quote:</font><hr /><font size="2" face="Verdana, Arial, Helvetica">What assets and liabilities were included in the sale price. </font><hr /></blockquote><font size="2" face="Verdana, Arial, Helvetica">From what was on local TV last night loooks like the assets but no liabilities.. .. .I believe that if the administrators have sold the assets of airline, but not the airline as a going concern, the AOC cannot be sold as an asset. They have to buy Flight West and that includes the liabilities including the liabilities to the staff.. .. .Civil Aviation Act, 27(8) says;. .. . </font><blockquote><font size="1" face="Verdana, Arial, Helvetica">quote:</font><hr /><font size="2" face="Verdana, Arial, Helvetica">An AOC is not transferable </font><hr /></blockquote><font size="2" face="Verdana, Arial, Helvetica">So is the party "buying" Flight West or just the assets? . .. .It appears the administrator has gone against the wishes of Junior. That was to wind up the companies, combine the resultant monies and pay out the staff all their entitlements.. .. .I believe the staff have been screwed big time!
Join Date: Dec 2000
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As the above press release indicates, FWA was sold as a "going concern". This more than likely means present staff will maintain their jobs and possible re-employment for more ex staff in future.. .. .If only the assets were sold--- no jobs!!. .. .Staff will get most of their entitlements.. .. .Clearly the best result!!!!!!!!! <img border="0" title="" alt="[Smile]" src="smile.gif" />
Join Date: May 2001
Location: Planet Earth
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Why would you say that the staff have been screwed big time? They should end up with a job!. .Flight West was the life-line for many remote Queensland communities, I know plenty of people who enjoyed having the service coming within a 2 hour drive of the cattle station we worked at. It gave the jackeroos a ride home when they wanted one.. .If Flight West can get up and running and reduce its cost base and operate services throughout Queensland again, then good on them for trying.. .If the staff aren't happy, then leave, and get paid what they are due when they can.. .Over unionisation has caused the demise of one airline in Australia, from which it was never going to recover. So if things are changed and people are not willing to have a go, then it will cause the demise of too many more.. .. .The Aussie Work Ethic as it is known around the world, is too many people want to do as little work for as much money as possible!
Join Date: Apr 2001
Location: Australia
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The late WIN local news last night said the new owners had purchased "only the airline structure". They have yet to negotiate leases on the aircraft. Employees will recieve their entitlements and those who are currently working for the company will employed by the new owners.. .. .I also noticed R.M. from jet-craft/Mac-air was at the creditors meeting, could it be jet-craft/Mac-air who are the new owners.
Join Date: Jan 1999
Location: Sydney Australia
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I was looking for a rumour BB. Have I come to the right place???. .. . Yes sir you have . .. .Thankyou <img border="0" title="" alt="[Big Grin]" src="biggrin.gif" /> <img border="0" title="" alt="[Big Grin]" src="biggrin.gif" /> . .. .What's this rumour about a certain Express company in the Sunshine State that is rumoured to be the purchaser???? <img border="0" title="" alt="[Wink]" src="wink.gif" /> . .. .Are all the creditors happy with this sale?? (The rest will remain unsaid for the time being) <img border="0" title="" alt="[Eek!]" src="eek.gif" /> <img border="0" title="" alt="[Eek!]" src="eek.gif" />
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An excerpt from Flight International (12-18 Mar), indicated that the Aus government had granted the PNG govt. a two year extension from Mar 31, to operate the non noise compliant F28s, and that as the extension only applies to F28-4000 that Pixie (can't spell Air Nui....) which has a signed agreement for 2 of the FWA F28-4000s will be negotiating for the third.. .. .Very generous of the Aust Govt. to grant such an extension.... wonder why they did that???? <img border="0" title="" alt="[Roll Eyes]" src="rolleyes.gif" />
Join Date: Jan 2002
Location: Perth
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I am quite surprised at the mostly negative comments about the on going sale of FWA, it has not been sold yet, that will hopefully happen next Tuesday.. .. .There seems to be a lot of sour grapes doing the rounds.. .. .Let it be known that the vast majority of creditors voted for the sale, the few that voted against appear to fear what unknown competition a Flight West under sane management could bring.. .. .Sorry Capt Claret your point in the F28 4000s and the Aust Govt does not make sense, please enlighten us?. .. .I am only guessing, but I think that next Tuesday will bring some excellent news to the Australian aviation industry!. . . . <small>[ 20 March 2002, 07:07: Message edited by: ndeke 100 ]</small>
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ndeke 100. .. .I'm not sure what you're not sure about, but here goes.. .. .As I understand it, FWA had 3 F28-4000s and 2 F100s. Flight International is suggesting that Air Niugini has "signed an arrangement for two of the Flight West aircraft [F28-4000]. Negotiations are continuing for the third F28 [4000] .... ". .. .If true and it goes as F.I. have suggested, this would I imagine, reduce the potential jobs should FWA get up again.
Join Date: Oct 1999
Location: To your left
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I'm with ya Cap'n Clary. <img border="0" title="" alt="[Big Grin]" src="biggrin.gif" /> . .. .By gees we bend over and make some allowances for our non-reflective friends don't we?. .. .Now if I was a First Worlder wanting to plonk some noisy old Speys in Sydney at....oh say 6.00pm each night of the week, what do you think my chances of getting a dispensation would be? No, hang on, for the sake of the argument, let's make it Cairns and keep it simple! <img border="0" title="" alt="[Cool]" src="cool.gif" /> . .. .Retreats to bomb shelter and waits for incoming. <img border="0" title="" alt="[Razz]" src="tongue.gif" /> . .. .Edited to get us back on topic by just saying I hope all my ex-Talair friends land on their feet with the re-birth of Flight West - good luck people!!. . . . <small>[ 20 March 2002, 07:01: Message edited by: Travelling Toolbox ]</small>
Join Date: Jan 2002
Location: Perth
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Cpt Claret,. .. .Thanks for your thoughts.. .. .The F28s have got to go, noise etc.. .. .The potential buyers could not sustain the operation longterm with two F100s. There are very many cheap 100s on the market at the moment, they would be looking at getting a few more I am sure. A perfect aircraft for OZ.. . . .The Administrator said yesterday that the "consortium" were buying the business to grow it, "and possibly take on some more of the former staff in the future" or words to that effect.The staff will get almost 100c in the $.. .. .I feel that the timing is pretty right, AN gone (sadly), the market being redefined, cheap aircraft, the world slowly comming out of the 911 shock, over the Jan, Feb, March lull, cheapish fuel, no regional competition to speak of,etc, etc. If you were buying shares I am sure you would try and buy them in a trough rather than a peak!. .. .A reasonable time to gamble on an airline if there is ever such a time.. .. .The revelation of who is doing the buying will be interesting , we have heard all the speculation from the Dodgey Brothers from the Territory to Singapore Airlines. The truth, as always,will probably be somewhere in the middle.. .. .Whichever way you look at it, has to be good news for the aviation industry in OZ. Jobs, competition etc.. . . . <small>[ 20 March 2002, 07:28: Message edited by: ndeke 100 ]</small>
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TTB. .. .I'm sure if you phoned 'happy Phil' and offered the use of your back yard for some of our intending immigrants, for which you'd be handsomly rewarded, financially that is, happy Phil'd probably grant you any wish you liked!! <img border="0" title="" alt="[Razz]" src="tongue.gif" />
Join Date: Feb 2000
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Passing through Cairns the other day and saw that Corporate Air Services had taken over the Trans State office. Could they be involved in buying Flight West? Do they operate any aircraft? Who are they?
The F28's suit ANG to a tee. . .Depreciated so far that they have little effect on the bottom line and can drop like a stone from high lsalts in PNG to much lower aerodromes.. .. .I heard 2 months ago that the PNG government was talking to the Oz government about an extension on operating F28's into Cairns, so that certainly didn't come as a surprise.
Join Date: Apr 2000
Location: Devonport Tasmania Australia
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If the Echo Whiskey girls get a guernsey anywhere in the region I will be well pleased.. .. .I love the roar of speys in the morning.. .. .Just miss it horribly and it is so sad to see them in the anonymouse lineup at MEL AMD - FKO excepted - she wasnt a well girl when we got her.. .. .Best all and all the luck in the world FWA.. .. .Take care of my surviving East West ladies please and pat them on the flank for me. God bless them and all who flew on them.. .. .Best all. .. .EWL
Join Date: Jan 2002
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EWL.. .. .You will be interested to know that the last Australian F28 RPT service will be operated on Saturday between TSV and BNE arriving at 0835 am.. .. .At 1130 am there will be a low level fly by the FWA hangar to say cheerio to your old girls. Watch the news on Saturday, hopefully they will cover it. <img border="0" title="" alt="[Smile]" src="smile.gif" />