Ansett: Worlds biggest creditors meeting
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Ansett: Worlds biggest creditors meeting
Fri "Australian"
Millions more creditors for Ansett
By Steve Creedy
December 21, 2001
ALMOST a fifth of the nation will be entitled to some say on Ansett's future after confirmation yesterday that the airline's 2.6 million frequent flyer pointholders and its 1.3 million Golden Wing Club members are unsecured creditors.
About 4 million people in total could take part in what may be the world's biggest creditors meeting in Melbourne on January 29.
Ansett administrators, Andersen, said the meeting in the Melbourne Exhibition Centre would be webcast to give everyone a chance to participate and a hotline would be set up to answer queries.
But administrator Mark Mentha said it was yet to be determined how much weight their votes would be given.
The confirmation that frequent flyer and lounge members are unsecured creditors means there is no legal obligation for preferred bidder Tesna to honour the 70 billion oustanding points with its new scheme. However, the consortium has not ruled out some incentive to lure frequent travellers back to Ansett.
Millions more creditors for Ansett
By Steve Creedy
December 21, 2001
ALMOST a fifth of the nation will be entitled to some say on Ansett's future after confirmation yesterday that the airline's 2.6 million frequent flyer pointholders and its 1.3 million Golden Wing Club members are unsecured creditors.
About 4 million people in total could take part in what may be the world's biggest creditors meeting in Melbourne on January 29.
Ansett administrators, Andersen, said the meeting in the Melbourne Exhibition Centre would be webcast to give everyone a chance to participate and a hotline would be set up to answer queries.
But administrator Mark Mentha said it was yet to be determined how much weight their votes would be given.
The confirmation that frequent flyer and lounge members are unsecured creditors means there is no legal obligation for preferred bidder Tesna to honour the 70 billion oustanding points with its new scheme. However, the consortium has not ruled out some incentive to lure frequent travellers back to Ansett.
[quote]But administrator Mark Mentha said it was yet to be determined how much weight their votes would be given.
The confirmation that frequent flyer and lounge members are unsecured creditors means there is no legal obligation for preferred bidder Tesna to honour the 70 billion oustanding points with its new scheme. <hr></blockquote>
Very cute solution to the points issue.
What odds the points holders are given very little "weight"?
Any interest in setting up a holders voting block? <img src="wink.gif" border="0">
Merry Xmas all.
The confirmation that frequent flyer and lounge members are unsecured creditors means there is no legal obligation for preferred bidder Tesna to honour the 70 billion oustanding points with its new scheme. <hr></blockquote>
Very cute solution to the points issue.
What odds the points holders are given very little "weight"?
Any interest in setting up a holders voting block? <img src="wink.gif" border="0">
Merry Xmas all.
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i don't know why the administrators didn't open up seats on the current AN for FF point holders.
just a few seats on each flight would have saved some face and at least made the reported loads look better.
they wouldn't even have had to displace any paying pax at this stage.
and at 50% capacity they could have made a lot of people happy and they would feel less shafted by the company. They'd be more likely to return when things get back on track properly.
just a few seats on each flight would have saved some face and at least made the reported loads look better.
they wouldn't even have had to displace any paying pax at this stage.
and at 50% capacity they could have made a lot of people happy and they would feel less shafted by the company. They'd be more likely to return when things get back on track properly.
Huntsman, this would probably have created some legal difficulties in that it may have been deemed a preferential distribution to creditors. This is because it could be seen that one batch of unsecured creditors are gaining an advantage not available to another group of creditors.
That is probably the main reason but there is also the business argument that allowing FF seats on the AN2 planes would have reduced revenue even further. This is because current AN2 pax are made up of two types.
-Discount pax who are flying on low fares and
-Diehard AN pax who love flying AN and probably have a stack of unused FF points.
If you allowed FF points on AN2 planes you could assume the second group would immediately transfer to FF points thus lowering revenue. As always it all about yields not loads.
Happy Xmas
1A_Please
That is probably the main reason but there is also the business argument that allowing FF seats on the AN2 planes would have reduced revenue even further. This is because current AN2 pax are made up of two types.
-Discount pax who are flying on low fares and
-Diehard AN pax who love flying AN and probably have a stack of unused FF points.
If you allowed FF points on AN2 planes you could assume the second group would immediately transfer to FF points thus lowering revenue. As always it all about yields not loads.
Happy Xmas
1A_Please
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Fri, Dec 21 2001 10:58 AM AEDT
Ansett frequent fliers deemed creditors by court
Ansett Airlines' frequent fliers have been deemed to be creditors, giving them rights under the company's new ownership.
The Federal Court yesterday ruled that nearly four million frequent fliers and Golden Wing Club members will be able to attend a creditors meeting at the Melbourne Exhibition Centre on January 29.
The meeting will be web-cast on the Internet.
Businessmen Solomon Lew and Lindsay Fox are expected to take over the airline two days later.
Ansett frequent fliers deemed creditors by court
Ansett Airlines' frequent fliers have been deemed to be creditors, giving them rights under the company's new ownership.
The Federal Court yesterday ruled that nearly four million frequent fliers and Golden Wing Club members will be able to attend a creditors meeting at the Melbourne Exhibition Centre on January 29.
The meeting will be web-cast on the Internet.
Businessmen Solomon Lew and Lindsay Fox are expected to take over the airline two days later.
Evertonian
Funny how the Administrators & Tesna are only now talking to the GW & FF people!
Gawd elp us! If the GW & FF members have a say, it will be virtually a one class airline, business class, with upgrades allround from the 1 economy seat on the aircraft. (That way, they buy the cheap ticket & get free upgrades!) Also, the MCG will be the new MEL GW lounge to accommodate their visitors!!!
Gawd elp us! If the GW & FF members have a say, it will be virtually a one class airline, business class, with upgrades allround from the 1 economy seat on the aircraft. (That way, they buy the cheap ticket & get free upgrades!) Also, the MCG will be the new MEL GW lounge to accommodate their visitors!!!
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Buster,
I'll vote for that....... <img src="wink.gif" border="0">
As you say funny how they are NOW talking to the FF and GW members, maybe they have been reading PPRuNe, and taking my advice..... <img src="eek.gif" border="0"> <img src="rolleyes.gif" border="0"> <img src="wink.gif" border="0">
Best regards,
"lame"
I'll vote for that....... <img src="wink.gif" border="0">
As you say funny how they are NOW talking to the FF and GW members, maybe they have been reading PPRuNe, and taking my advice..... <img src="eek.gif" border="0"> <img src="rolleyes.gif" border="0"> <img src="wink.gif" border="0">
Best regards,
"lame"
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Strobes_On,
I was only joking, as I am sure you realise... <img src="wink.gif" border="0">
However lots of people do read these Forums, I have had several emails from various print journalists, and also a couple from radio and TV producers, asking for more information on things I had posted on PPRuNe.... <img src="eek.gif" border="0"> <img src="rolleyes.gif" border="0"> <img src="wink.gif" border="0">
Best regards,
"lame"
I was only joking, as I am sure you realise... <img src="wink.gif" border="0">
However lots of people do read these Forums, I have had several emails from various print journalists, and also a couple from radio and TV producers, asking for more information on things I had posted on PPRuNe.... <img src="eek.gif" border="0"> <img src="rolleyes.gif" border="0"> <img src="wink.gif" border="0">
Best regards,
"lame"
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My case rests, if the media are seeking 'expert opinion' on articles that they themselves have generated we are all in very deep deep do indeed. <img src="rolleyes.gif" border="0">
Any solicited advice given to those outside, through these forums, should be prefaced with the disclaimer, that said advice or opinion is that of the individual only and does not imply a consensus or imprimatur from PPRuNe and its members at large. <img src="frown.gif" border="0">
Any solicited advice given to those outside, through these forums, should be prefaced with the disclaimer, that said advice or opinion is that of the individual only and does not imply a consensus or imprimatur from PPRuNe and its members at large. <img src="frown.gif" border="0">
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Well some people, NOT many obviously here <img src="rolleyes.gif" border="0"> value my opinions...... <img src="wink.gif" border="0">
I didn't realise this would generate so much interest, I was also asked, because of my posting on PPRuNe, to do a series of articles for an Aviation magazine....... <img src="eek.gif" border="0">
In ALL of these cases, I declined their kind offers, as I didn't think it was appropriate. <img src="frown.gif" border="0">
PS and Edit.... The emails from the TV and radio producers, I forwarded at the time a copy to PPRuNe HQ, to show them who does read PPRuNe, and they said there were aware of this sort of thing..... <img src="eek.gif" border="0"> <img src="rolleyes.gif" border="0">
Also they were NOT in relation to the news stories that I post now...... <img src="wink.gif" border="0">
[ 21 December 2001: Message edited by: lame ]</p>
I didn't realise this would generate so much interest, I was also asked, because of my posting on PPRuNe, to do a series of articles for an Aviation magazine....... <img src="eek.gif" border="0">
In ALL of these cases, I declined their kind offers, as I didn't think it was appropriate. <img src="frown.gif" border="0">
PS and Edit.... The emails from the TV and radio producers, I forwarded at the time a copy to PPRuNe HQ, to show them who does read PPRuNe, and they said there were aware of this sort of thing..... <img src="eek.gif" border="0"> <img src="rolleyes.gif" border="0">
Also they were NOT in relation to the news stories that I post now...... <img src="wink.gif" border="0">
[ 21 December 2001: Message edited by: lame ]</p>
