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Old 9th Sep 2001, 07:21
  #41 (permalink)  
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Then maybe this change is long overdue perhaps? Let them sink I say, why pay money to the foreign devils that own it now on fanciful notion of national identity. Fiddlesticks.

It has already been said; would you approve or encourage the Government to bail out Virgin Blue; I think not. So why Ansett??

Lost jobs, again, fiddlesticks, it will just be re-deployment in/to other companies, with greater gains in efficiency. Yes, there will be pain, but there will also be gain.

The Governments job is to regulate, not finance, let them regulate the companies, and the industry accordingly, not finance them.

Government investment strategies is another issue, but direct bail outs, is what happens in third world countries. Oh, I forget, it's pacific pesos, isn't it?
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Old 9th Sep 2001, 07:39
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Stuff Co NZ (Sun):

Govt vows to save Air NZ
09 September 2001

By GERALDINE JOHNS and GARRY SHEERAN
Prime Minister Helen Clark last night gave assurances Air New Zealand would not be crippled by its troubled subsidiary Ansett Australia.

"The bottom line is Air New Zealand as the national airline has to be kept flying. Life without Air New Zealand is unthinkable," Clark said.

Air New Zealand major shareholders and senior management continued to work frantically in Auckland last night to try to hammer out a deal to save the national airline from collapse. Sources say a financial package is being prepared this weekend designed to secure Air New Zealand's future apart from that of Ansett.

Speculation about an Ansett receivership strengthened last night, with reports the airline had withdrawn all national advertising in Australia. "We think it is appropriate at this time," said an Ansett spokeswoman. "It is a considered decision and will be reviewed later."

Air New Zealand's problems were brought into stark relief when its board admitted on Friday that Ansett Australia was losing $1.5 million a day which, when interest is added, brings its losses close to $700m a year.

The Ansett investment will blow a billion-dollar hole in the Air New Zealand balance sheet but the situation could be far worse if Air New Zealand has guaranteed Ansett debt, say analysts.

The problems also prompted an urgent meeting in Shanghai between Finance Minister Michael Cullen and his Australian counterpart Peter Costello last night.

"Air New Zealand as the parent has the right to determine its (Ansett's) commercial future," Costello said. "Australia does not own Air New Zealand. In fact we don't own any airlines, nor do we seek to own any airlines. There are a number of possibilities, including equity injections from Singapore Airlines, including an acquisition by Singapore Airlines."

Clark said yesterday the government would prefer to be nowhere near the commercial affairs of Air New Zealand and the Australian government had taken the same attitude.

However, she did not rule out an aid package. Air New Zealand "have to develop a proposition to give to our negotiator, who will then assess if it's viable".

An Air New Zealand spokesman said last night key advisers and representatives of its major shareholders, Singapore Airlines and Brierley, also Air New Zealand management, were working with the government negotiation team. "We want to come to a positive outcome and that's what we are working for."

The airline was operating as normal "in every sense", he said. "For us, the critical deadline is the announcement of our result on the 13th."

The deal is expected to go to the Air New Zealand board tomorrow, ahead of its annual result, which is to be posted on Thursday. "We're just waiting for a viable proposition and we have to keep the interests of both the travelling public and the New Zealand taxpayer at the top of our priorities," said Clark.

Asked if that raised the spectre of government assistance or intervention, she said the government was involved only because of the Kiwi share "and because designated national airlines are important from a national point of view".

It was Air New Zealand's investment in Ansett Australia that caused the difficulties it now faced, Clark said. It has already been accepted that New Zealand's national carrier paid too much for Ansett, which was beset with problems.

Air New Zealand chief executive Gary Toomey refused to comment as he entered the Auckland meeting yesterday.

Air New Zealand's share price plummeted to an all-time low on Friday, with A shares closing at 70c - down from 95c earlier in the week and B shares at 81c - down from $1.15. Since January, the share collapse has wiped almost $900m from its market value, which is now at $570m.

Clark said last night Air New Zealand's core operation was a "good and profitable" airline. "The question is the Australian airline."

Air New Zealand customers yesterday insisted the company had to get rid of Ansett, and criticised the investment.

"If they keep losing that much money they will go under, won't they?" said Nick Devcich of Winton. "They should sell Ansett back to the Australians."

Gill Daniell of Christchurch said the airline had to "drop Ansett fast". "It's a privately owned firm so I don't think the New Zealand government should be touching it."

Others disagreed. "I think the government should definitely bail them out. It's our flagship carrier," said Barry Lindsay. "This isn't going to do the country's reputation much good."

Kevin Bradley of Gisborne said shareholders should contribute to a bail-out package, but thought the government should assist too.

"I think we should bail them out. We don't want foreigners having the access, in my opinion. Their service is good and we might lose that if we get Singapore or someone else coming in."

Joan Howarth of Nelson questioned why Air New Zealand invested in Ansett in the first place. "Ansett was losing money to begin with, wasn't it? We've travelled the world on many airlines, but Air New Zealand is the best. We'd hate to see it go down."

Air New Zealand acting chairman Jim Farmer was unavailable for comment last night. However, in a newspaper column late last month, he defended the purchase of Ansett Australia. "Acquisition of Ansett was the only commercial solution available to our company. Without Ansett, Air New Zealand would become unprofitable and commercially impotent, outflanked and over-flown by its bigger international and regional competitors," Farmer said.

One analyst said plugging the hole in the Air New Zealand balance sheet was achievable.

Singapore Airlines (SIA) could contribute by being allowed to lift its 25 percent stake in Air New Zealand to 49 percent. At 60c a share - well down on the $1.31 a share SIA earlier indicated it may be willing to pay - that would raise around $213m, said the analyst.

A three for one share issue by Air New Zealand at 25c a share would raise around $835m. "But the real problem will arise if Air New Zealand has guaranteed Ansett debts," said the analyst. It may not then be as easy for Air New Zealand to walk away from Ansett.

Act MP and commercial lawyer Stephen Franks said Air New Zealand's problems would be significant if it had guaranteed debt. "Things will probably not be so bad if it has guaranteed individual loans by specific banks."

Additional reporting - Kim Newth and Robyn McLean
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Old 9th Sep 2001, 08:20
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It looks like Helens "Things look brighter"
is for AirNZ not Ansett, if I'm reading this
right, I would estimate Ansett will last no
longer than tomorrow night and as early as
tonight.

Wirraway
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Old 9th Sep 2001, 08:28
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Ansett crisis hurts WA

By Geoffrey Thomas



WA WILL bear the brunt of the financial plight of Ansett Australia as the airline begins a slash-and-burn survival program.

Ansett management in Melbourne has developed a crisis plan that would see between 3000 and 5000 staff laid off, planes such as the 80-seat BAe 146, which is used in WA, scrapped and a dramatic cutback in air services.

In WA, all Ansett routes to the North-West, apart from Karratha, Kalgoorlie and Broome, are under threat. But QantasLink and National Jet Systems are ready to fill the void.

The plan was brought out after Virgin Blue rejected Ansett and its owner Air New Zealand's bid to take over the cut-price airline, Ansett sources in Melbourne said.

Government ministers in New Zealand and Australia will meet today to consider options for a possible bailout of Ansett as the carrier continues to lose more than $1 million a day. They have warned about the seriousness of Ansett's financial plight as it struggles to compete with the lean and mean Virgin Blue.

Virgin Blue owner Sir Richard Branson has declared that Ansett is not worth saving and indirect shareholder Singapore Airlines is coming rapidly to the same conclusion.

The staff lay-offs, flagged by The West Australian last week, will be the start of the most radical upheaval that Ansett has undergone as management tries to slash costs to compete with Virgin Blue. Trimming the airline's 16,000 staff is a quick option. But many analysts warned that this would not be enough and the airline might have to renegotiate all its contracts with staff to bring them into line with its competitors.

Airlines such as National Jet Systems and QantasLink pay their pilots and cabin attendants up to 30 per cent less than Ansett and Qantas. According to Sir Richard, Ansett's costs are 2 1/2 times higher that those of Virgin Blue.

Since deregulation was announced in WA in 1991, Geraldton, Carnarvon, Exmouth and Derby have lost their jet service while jet services linking most North-West towns have been scrapped.

Last month, Ansett announced the downgrading of its fully catered Broome-Darwin jet service to a smaller plane with passengers likely to be served a muffin in a paper bag and water.

In response, State Tourism Minister Clive Brown flagged a review of the Government's relationship with Ansett.

"The Government will look at this action and other recent Ansett actions very closely in the context of a wider regional review of the State's air services," he said.

Mr Brown warned that low-volume routes were feeling the pinch because of deregulation. "This is a problem for tourism access," he said.

Kimberley Tourism Association chief executive Brian Tolhurst said any loss of the jet service to Broome would hurt tourism.

Analysts said Ansett would be forced to consolidate its regional airlines, including Perth-based Skywest Airlines and more jobs losses were anticipated.

They said Ansett might transfer planes to Air New Zealand's cut-price airline, Freedom Air, and that Freedom Air might fly domestic routes in Australia.
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Old 9th Sep 2001, 08:33
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Nasty piece of work that Mir3. Go away you are outvoted.
Keep up the good work lame.
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Old 9th Sep 2001, 08:41
  #46 (permalink)  
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Pharknose, if you are going to attack my credibility for miss spelling one word, I ask you to read my earlier posts where I questioned the relevance of Lame's post and his trying to compare the demise of Ansett with that of Compass etc. That was all. Back Seat Driver, you should do the same. I and most other PPRUNE posters are tired of the good KaptinM and his constant reference to 1989. He has told us all previously how great his salery is and he doesnt pay tax in this country. Therefore he has no say in how tax money is spent. Simple!
 
Old 9th Sep 2001, 08:48
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Sunday September 9, 11:46 AM (S/pore}

Virgin Blue mulls govt rescue of Ansett Australia

SYDNEY, Sept 9 (Reuters) - Richard Branson's discount carrier Virgin Blue said on Sunday it was not opposed to a government-funded rescue of struggling Air New Zealand



unit, Ansett Australia, but competition safeguards would be needed.

"We have no problems with a fundamental government-funded restructure of Ansett, however it has to be done in a smart way," Virgin Blue chief executive Brett Godfrey told the Nine Network's Business Sunday programme.

"It has got to be done with some consideration to the competition policy part of the Trade Practices Act. We have some issues there (that) we've always said need to be tightened up."

The future of Air NZ is up in the air as it tries to raise NZ$1 billion for a much-needed upgrade of Ansett's fleet, and there has been speculation New Zealand and Australian governments may need to kick in funds to keep the airlines flying.

Air NZ had said on Saturday it would be working through its refinancing options over the weekend and would decline to comment further until they were completed.

The company said it would be in discussions with its major shareholders -- Singapore Airlines and Brierley Investments -- and the New Zealand government over the weekend. SIA holds 25 percent, while Brierley owns 30 percent of Air NZ.

Australian Prime Minister John Howard reiterated his opposition to the Australian government taking a position in Ansett, which Air NZ said is losing A$1.3 million (US$674,700) a day at the earnings before interest and tax level.

Ansett is the second major player in the A$10 billion a year Australian domestic aviation market, behind Qantas Airways Ltd

, while Virgin Blue remains as the only discount carrier after Qantas swallowed Impulse Airlines earlier in 2001.
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Old 9th Sep 2001, 09:00
  #48 (permalink)  
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BUSINESS

SUNDAY, 09 SEPTEMBER 2001

B U S I N E S S S T O R Y

IN OR OUT?: Air New Zealand’s future may be solved without troubled Ansett in the picture.

GEOFF DALE/Sunday Star-Times

Air NZ rescue may exclude Ansett
09 September 2001

By GARRY SHEERAN
Proposals to secure the future of Air New Zealand without troubled Ansett in the picture are understood to be on the table as the share price of the national carrier plumbed all-time lows.

Ansett was the subject of all manner of rumours late last week, including that it was about to be placed in receivership.

Another option for Ansett, which Air NZ said on Friday was losing $A1.3 million a day, is a bail-out by the Australian government.

But sources indicated attention is now being centred on recapitalising Air NZ to run as a smaller and profitable airline without Ansett, which could be closed.

One analyst said Virgin Blue's proposal on Friday it buy Singapore Airline's 25 percent stake in Air NZ was doomed to founder.

The proposal depended on Singapore Airlines (SIA) buying Ansett from Air NZ.

Adding interest costs to Ansett's daily loss revealed by Air NZ meant the Australian domestic carrier was losing an annualised $A575m ($NZ692m).

"No one - including Singapore Airlines - will be interested in buying Ansett with those sort of losses mounting," said the analyst.

After attending talks in Wellington, Singapore Airlines boss Cheong Choong Kong returned home, apparently backing away from any deal which included the fast-deteriorating situation at Ansett.

However, SIA is still expected to be interested in any recapitalisation of Air NZ, without Ansett as part of the equation.

Alarm bells rang on already difficult negotiations last week when Finance Minister Michael Cullen said Air NZ's position was "worse than anybody anticipated."

Sir Richard Branson also highlighted the seriousness of Ansett's position in Australia when he turned down a $A250 million offer from Air NZ for his Virgin Blue (Australia) airline.

Such a purchase would have helped Ansett's position in the hugely-competitive Australian domestic air travel market.

"Either Branson is very dumb turning down a quarter of a billion dollars for a year's work - or he is very smart," said one analyst.

"But Branson is smart; he sees the prospect of becoming the number two domestic air carrier in Australia. That is a much bigger prize."

With Branson's rejection, Air NZ's option for securing Ansett was blown, and his assertion the airline was losing $A1m a day had analysts reaching for their abacuses.

The New Zealand government threw the Ansett ball back into the court of Air NZ and the Australian government which has said it may have to consider a bail-out for the Australian carrier.

Reports of "administration" for Ansett - one step removed from receivership - came from Canberra last week. But that, along with precise knowledge of the seriousness of the situation facing Ansett, is mainly speculation.

However, sources in New Zealand were firm on Friday that rescue attempts were now focused on Air NZ alone.

Sources said Air NZ and Ansett were separate operating and legal entities under the Air NZ Group umbrella.

Without Ansett in the picture, an analyst said net asset backing of Air NZ shares was around 46c. On Friday A shares closed at 70c, 35 percent down on the week's trading, and B shares 81c, 42 percent down.

The analyst said efforts were being made to plug a $1 billion hole in Air NZ's balance sheet, with the cost of the Ansett purchase being written off, along with latest financial year losses from Air NZ.

That hole could be plugged with a combination of an Air NZ rights issue, and allowing SIA to go to 49 percent of the company.

However, he said SIA may be willing to pay no more than 60c a share (down from $1.31 previously mentioned), and a rights issue as low as 25c a share.

Air NZ said on Friday it has asked advisers to resubmit a refinancing package which will be discussed with major shareholders and the government early this week.
 
Old 9th Sep 2001, 09:03
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Lets look at what is and has gone on and the issues.

1. Government spending The Queensland government has pumped tens of millions of dollars into foreign companies to set up shop in QLD whether through direct asset purchases, subsidies or tax breaks, they are getting the dough. This includes Virgin and Boeing to name a few. Other government agencies in other states are bending over backwards to help them expand or set up in their back yards as well.
Then there is the matter of R&D grants that governments spend hundreds of millions of dollars on every year, going primarily to large off-shore multi-national companies.(Is that tortology?) to make sure that they feel welcome here and, in other words, don't shut down and go to asia like BIL did.

2. Government regulations Even with deregulation and open skies policy, this industry is still very regulated, it starts right at the core, investment restrictions. As soon as you do this, the government has ultimate say in what goes on. Whether by limiting foreign ownership, or having the ACCC to approve the anti-competative merging of Impulse into Qantas to save jobs, they call the shots. This absolute power means they have to act responsibly with share holder rights being retained, and respected. This sadly does not seem to be the case. This leads me to the next item...

3. Singapore Inc. SQ have been 25% responsible for what is going on in NZ/AN, yet it appears they are washing their hands of it, and telling the board to get thier sh!t together. My observations are that SQ are playing this game to a T.
They have two federal governments running around trying to free up their restrictions, and freeing up investment, both government and foreign, and all the while the value of their prey has more than halved. Then the Singapore government says it is not up to governments to get messed up with these sorts of dealings!

4. Government interference Whether by ignorant neglect or planning, airline collapses around the world have been in part helped by governments, only because of the restrictions and control they have over them. Any beaurocrat can find the health of an airline because of all the government tenticles that are spread through it. Compass, Braniff, etc were all given a helping hand to the exit at some stage by government, for what ever reason.

The moral of all this is that whether you are for or against government money getting involved in this sad basket case, always remember that everyone else is getting some, particularly foreign companies, like AN.
The governments lack of input has probably been slow because of all the lies comming out of NZ. One minute they are going great guns and would like a little more spending money from SQ, then all of a sudden they confirm rumours that AN is loosing $1.3 million a day and have deadlines to meet or the whole thing goes tits up. What gives?
Personaly l hope no tax payers money gets involved in Sir Sell One Cushions ego trip that went horribly wrong, on either side of the ditch.


PS: SQ originally wanted 25% of QF, but the government at the time said no and gave that share to BA. Then SQ said thay would like the last half of AN, but Air New Zealand said no and bought it themselves. Now SQ want 49% of NZ but the government says no.
Now it is all turned around and they all want SQ to come in and save them. Talk about revenge, l think SQ have just re-written the "ultimate revenge manual".

A soon to be un-employed Hagas

[ 09 September 2001: Message edited by: HagasTuft ]
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Old 9th Sep 2001, 09:38
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So when will we here the AN "cash for fuel" that occurs prior to any collapse?. Eecams staunch defence of AN practices seems to have stopped, perhaps he will now concede that he has been led up the airport path by his heroic leaders. He may even find himself in a cockpit with Amos, more likely though is driving cabs around Mel. Just see if that AN arrogance and contempt for other airlines helps during the job hunt!
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Old 9th Sep 2001, 09:52
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Ansett workers rally

From AAP
09sep01

ANSETT staff demonstrated their support for the company today ahead of a key Air New Zealand board meeting on the troubled airline's future tomorrow.

At the mass meeting at Melbourne Airport today Australian Services Union assistant national secretary Linda White says the federal government must accept some blame for the carrier's woes.

She says deregulation has handed Ansett over to a foreign power so the federal government, must take an active role in brokering a solution.

Speaking on behalf of Ansett airport staff, Steve Smith, a 27-year veteran of the airline said the current crisis had been extremely stressful for all staff.

The board of Air NZ, Ansett's owner, will resume a crisis meeting tomorrow, ahead of the release of the company's full year results on Thursday.
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Old 9th Sep 2001, 09:59
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If you can suggest you read the back page of the Weekend Fin Review.

Looks like SQ will wind up with a mouth full of feathers for their $400,000,000.
Last paragraph
"Two years ago, Rupert Murdoch found a bunch of suckers-the board of Air NZ-to buy his share of Ansett. A receiver would have to find an even bigger bunch of suckers."

Sorta says it all really.
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Old 9th Sep 2001, 10:20
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Question

For the guys working for VB,
What is the current recruitment rate?Could
your training dept.handle a fairly rapid expansion.Have you a hold pool of guys at the moment.
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Old 9th Sep 2001, 10:29
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Sunday September 9

Air New Zealand withdraws Ansett advertising

AUCKLAND, Sept 9 (Reuters) - Troubled national flag carrier Air New Zealand Ltd said on Sunday that it had withdrawn advertising for its loss-making Australian subsidiary, Ansett Airlines.



Air NZ also said its board would meet at 4 p.m. (0400 GMT) on Sunday to consider refinancing proposals.

Air NZ spokesman Mark Champion confirmed Ansett's Australian advertising had been withdrawn. He declined to comment further.

Speculation is rife as to the future of Air NZ as it urgently seeks to raise NZ$1 billion for the upgrade of Ansett's fleet. Air NZ's major shareholders and management have worked over the weekend on a refinancing deal.

The Sunday Star Times said speculation about Ansett going into receivership strengthened on Saturday night, based on Ansett withdrawing its advertising.

Prime Minister Helen Clark has said over the last two days that it was "unthinkable" the idea of Air NZ itself collapsing.

"The bottom line is Air NZ as the national airline has to be kept flying. Life without Air NZ is unthinkable," Clark told the Sunday Star Times.

But politicians on both sides of the Tasman sea have moved to the sidelines while Air NZ works on its refinancing.
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Old 9th Sep 2001, 10:49
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AAP (Sun)

Virgin Blue snubs Ansett merger

Australian-based budget airline Virgin Blue has reiterated its interest in buying a 25 per cent stake in Air New Zealand, but ruled out any merger with troubled airline Ansett.

Virgin Blue chief executive officer Brett Godfrey said the airline was happy to talk about doing a share swap deal with Air NZ's part-owner Singapore Airlines.

"We're quite comfortable to talk about doing a share swap," he told Channel Nine's Business Sunday program.

"The market rate is the market rate for the Air New Zealand group and at those prices it would be a very cheap buy for us to get in on the proviso, as we said, obviously that Singapore would have to sell, and to date they haven't said that they're going to do that."

Virgin Blue on Friday offered to buy Singapore Airlines' 25 per cent stake in Air NZ, leaving the Singapore carrier free to grab Ansett.




The offer came just three days after British entrepreneur Sir Richard Branson rejected a multi-million dollar offer from Ansett to buy his Virgin Blue discount airline.

Mr Godfrey argued that Virgin Blue was worth close to three times the $250 million Ansett offered for the budget airline last week.

"I would argue that the valuations that we had for Virgin Blue anyway, the valuations that the banks were doing last week, were in excess of two-and-a-half to three times what was on the table from Air NZ."

But he was not interested in an Ansett/Virgin Blue merger.

"I think we've clearly painted ourselves into the corner a little bit, it's strange now to go back on that - particularly as we see ourselves trading well in our next reporting season to March next year."

He reiterated that Virgin Blue planned to float next year, and said it may "cash up" to the point where it could make some strategic investments in other airlines.

He said Virgin Blue would be interested in Ansett's assets, particularly some of its staff, if Ansett did fail. Ansett is losing $1.3 million a day.

Mr Godfrey said it would take "some willing minds" to recapitalise and refinance Air NZ/Ansett.

Singapore Airlines has lobbied the NZ government to end ownership restrictions and allow it to increase its stake in the NZ carrier to 49 per cent from the current 25 per cent.

"I think Singapore...holds the cards in this game," Mr Godfrey said.

Australia's largest airline, Qantas Airways Ltd, itself wants to take a 25 per cent stake in Air NZ in a deal which involves the sale of Ansett to Singapore Airlines.
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Old 9th Sep 2001, 11:09
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It amazes me that, the media has this obsession with SQ buying AN.

Sure, the value of the route structure, landing rights, on carriage and terminal lease has a marketable value. But with the cost of repaying the debt, upgrading the aircraft, and restructuring the airline, it all may now be more than its value. Singapore will ONLY do what’s good for Singapore, no-one else matters.

With the bleeding of $1.3 mill a day, the balance in favour of SQ buying into AN may be slipping rapidly away, if not already to far gone.
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Old 9th Sep 2001, 11:15
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Would some of you guys and girls try to see
if you can book any flight on the Ansett
site, just had a look for Tues 11th can't
seem to book anything, Thanks

Wirraway
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Old 9th Sep 2001, 11:55
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Prime Minister Helen Clark last night gave assurances Air New Zealand would not be crippled by its troubled subsidiary Ansett Australia.

"The bottom line is Air New Zealand as the national airline has to be kept flying. Life without Air New Zealand is unthinkable," Clark said.
Is it just me or has Helen Clark taken a long time to realise just what the consequenses of her Goverments inaction are.

SIA appears very wary now but had the go ahead been given for SIA to up it's stake when it was first mooted a few months ago the situation today would have been very different.
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Old 9th Sep 2001, 14:29
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Ansett has been cancelling flights late this afternoon from Adelaide,Sydney & Brisbane according to news radio in Tassie. Not confirmed if this is to do with the possible announcement tomorrow that Ansett will go into liquidation.

Saw the unions doing their bit tonight on ABC news. Unfortunately we have seen it all before when foreign companies ditch their aussie connections.

Why can't AN employees look at the possibility of buying the Company as was muted not so long back. There will be no government bail out here for obvious political reasons, so get back to the basics of survival. Ansett will be a lot cheaper than when the plan was first devised and if everyone took a 30% pay cut it may just work.
The remaining capital required could be raised through a public float.

If the public of Australia could see staff at Ansett genuinely trying to keep Ansett in the air (with substantial pay cuts) they might just go for a share in the Company to keep it going. Union rhetoric will not work - it never has and especially now as the polls indicate that the public are not in favour of bailing out Ansett. Little Johnny and Sleazley Kim have both done their homework on this, that's why the Labour mob have been lying low.

There is no other way. Air NZ have ditched you,SQ and the good Doctor have ditched you and so have Qantas and Virgin. There is no one left in the theatre but the staff themselves.

The Fat Lady is priming her vocal chords - what are YOU going to do about it!!!
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Old 9th Sep 2001, 14:35
  #60 (permalink)  

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They will do what anyone else would do Whiskery, save their own AR$E!

It amazes me that the AirNewZealand/Ansett Australia group, has now become Ansett Australia only when talk of shutting down is in the air. So much for two great airlines!
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