Ansett - The silence is deafening
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Ansett - The silence is deafening
Hello, anyone out there, nothing on TV, no paper clippings from Wirraway, no posts on PPRUNE.. .What's happening guys?
<img src="frown.gif" border="0">
<img src="frown.gif" border="0">
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Don't worry Austin.. . This is the period well known as the "Calm before the Storm".INHO there will shortly be a press conference called by Tesna and Virgin announcing some sort of tie up and to follow soon after will be all the fanfare that has been carefully rehearsed by Marketing,including final Aircraft lineup (DJ+AN), FFlyer/Star Allience Schemes,Schedules,premium catering ect.. . This is the stuff thats been brewing for Months and shortly will come to fruition.
HOT TIP,Sell those Qantas shares!!!!.. . There going to take a pounding when Joe Blow realises whats going to happen here.
PS.... This stock advice given free of charge (once only) to all PPruners. <img src="wink.gif" border="0"> <img src="wink.gif" border="0">
HOT TIP,Sell those Qantas shares!!!!.. . There going to take a pounding when Joe Blow realises whats going to happen here.
PS.... This stock advice given free of charge (once only) to all PPruners. <img src="wink.gif" border="0"> <img src="wink.gif" border="0">
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No news is good news.
It's now 11:00 am on Thursday morning and Ansett are still flying. Crocodile redundee, rampsuper and the others who said Ansett would stop flying midnight on Wednesday any comments?
It's now 11:00 am on Thursday morning and Ansett are still flying. Crocodile redundee, rampsuper and the others who said Ansett would stop flying midnight on Wednesday any comments?
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Townsville Refueller,
You were one of the first with the cr@p about AN ceasing at midnight on Wednesday.
From what I've heard, the schedules are actually ramping up.
The heat must be getting to you.
You were one of the first with the cr@p about AN ceasing at midnight on Wednesday.
From what I've heard, the schedules are actually ramping up.
The heat must be getting to you.
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Check this story.
<a href="http://www.thecouriermail.news.com.au/common/story_page/0,5936,3771472%255E953,00.html" target="_blank">http://www.thecouriermail.news.com.au/common/story_page/0,5936,3771472%255E953,00.html</a>
<a href="http://www.thecouriermail.news.com.au/common/story_page/0,5936,3771472%255E953,00.html" target="_blank">http://www.thecouriermail.news.com.au/common/story_page/0,5936,3771472%255E953,00.html</a>
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Delays force Ansett losses up . . . .Terry McCrann . .Courier-Mail. .14feb02
NEW figures confirm Ansett's losses are running well above the $6 million a week predicted by the carrier's administrators.
The confidential internal figures show Ansett Mark II continues to bleed badly as talks continue on the airline's desperately needed sale.
Ansett's planes are flying two-thirds empty – and the few passengers it has are paying less than $100 a ticket on average.
On Tuesday, the figures show, the airline flew just 3254 passengers who generated just $320,000 in revenue.
The passenger load was less than a third the number of customers now flying Virgin Blue each day – and an even smaller portion of Virgin's daily revenues.
Before it failed in September, Ansett was five to six times the size of Virgin.
The airline is now barely a third its size.
The airline's desperate financial state goes a long way to explaining the frantic efforts by would-be Ansett owners Solomon Lew and Lindsay Fox to forge some sort of deal with Virgin.
Ansett is bleeding money at the rate of at least $1.5 million every day, and its cash costs could be running as high as $2 million a day.
The single-day loss for Tuesday would have been between $1.2 million and $1.7 million. That would have brought total cash losses for the 12 days of February so far to between $13 million and $19 million.
Added to that are the non-cash costs, such as the fees still to be charged by administrators Mark Mentha and Mark Korda.
The internal figures show that in the 12 days since the start of the month, Ansett has flown a total of only 54,000 passengers, an average of around 4500 each day.
Total revenue for the 12 days, according to the official Ansett figures, was just $5.3 million.
That left a cash loss of as much as $19 million for a period of less than two weeks.
That suggests it will be all-but impossible for the two Marks to keep the total February loss down to their predicted $24 million, if the sale saga drags on to the end of the month.
The February loss should have been incurred by Fox and Lew, as Ansett was supposed to have been sold to them at the end of January.
Instead, it will come out of the pockets of Ansett creditors, who will be lucky to get even a cent in the dollar, far less than the 5¢ indicated by the administrators.
If the Lew-Fox deal now fell over, the creditors would get nothing and Ansett staff would lose a sizeable part of their entitlements.
It emerged yesterday that controversial negotiations over the Sydney Airport domestic terminal lease were heading towards a conclusion after the airport operators received information on Tesna's deal with unions using Ansett's Sydney terminal as security for employees' entitlements.
Sydney Airports Corporation Limited spokesman Peter Gibbs said the issue, which was identified as a sticking point, had been dealt with.
. .The administrators and Tesna principals Mr Fox and Mr Lew have indicated they would like the matters settled by the end of the week.
Additional reporting by AAP
. .I'd be trying to keep that vey quiet, the Adminstrators futures and personal fortunes are now entirely in Tesna's hands for their own survival and must be pleading, begging or adopting other unseemly postures to get Tesna to complete.. .So who then is now looking after the creditors.. .The ACTU?? they are in the same gunsights.. .So the sale completes, if what Mr McCrann suggests is so and I would bet it is, there are going to be some very very angry creditors.
Silence, of course there is, have you ever tried speaking with a mouth full of feathers. <img src="rolleyes.gif" border="0">
NEW figures confirm Ansett's losses are running well above the $6 million a week predicted by the carrier's administrators.
The confidential internal figures show Ansett Mark II continues to bleed badly as talks continue on the airline's desperately needed sale.
Ansett's planes are flying two-thirds empty – and the few passengers it has are paying less than $100 a ticket on average.
On Tuesday, the figures show, the airline flew just 3254 passengers who generated just $320,000 in revenue.
The passenger load was less than a third the number of customers now flying Virgin Blue each day – and an even smaller portion of Virgin's daily revenues.
Before it failed in September, Ansett was five to six times the size of Virgin.
The airline is now barely a third its size.
The airline's desperate financial state goes a long way to explaining the frantic efforts by would-be Ansett owners Solomon Lew and Lindsay Fox to forge some sort of deal with Virgin.
Ansett is bleeding money at the rate of at least $1.5 million every day, and its cash costs could be running as high as $2 million a day.
The single-day loss for Tuesday would have been between $1.2 million and $1.7 million. That would have brought total cash losses for the 12 days of February so far to between $13 million and $19 million.
Added to that are the non-cash costs, such as the fees still to be charged by administrators Mark Mentha and Mark Korda.
The internal figures show that in the 12 days since the start of the month, Ansett has flown a total of only 54,000 passengers, an average of around 4500 each day.
Total revenue for the 12 days, according to the official Ansett figures, was just $5.3 million.
That left a cash loss of as much as $19 million for a period of less than two weeks.
That suggests it will be all-but impossible for the two Marks to keep the total February loss down to their predicted $24 million, if the sale saga drags on to the end of the month.
The February loss should have been incurred by Fox and Lew, as Ansett was supposed to have been sold to them at the end of January.
Instead, it will come out of the pockets of Ansett creditors, who will be lucky to get even a cent in the dollar, far less than the 5¢ indicated by the administrators.
If the Lew-Fox deal now fell over, the creditors would get nothing and Ansett staff would lose a sizeable part of their entitlements.
It emerged yesterday that controversial negotiations over the Sydney Airport domestic terminal lease were heading towards a conclusion after the airport operators received information on Tesna's deal with unions using Ansett's Sydney terminal as security for employees' entitlements.
Sydney Airports Corporation Limited spokesman Peter Gibbs said the issue, which was identified as a sticking point, had been dealt with.
. .The administrators and Tesna principals Mr Fox and Mr Lew have indicated they would like the matters settled by the end of the week.
Additional reporting by AAP
. .I'd be trying to keep that vey quiet, the Adminstrators futures and personal fortunes are now entirely in Tesna's hands for their own survival and must be pleading, begging or adopting other unseemly postures to get Tesna to complete.. .So who then is now looking after the creditors.. .The ACTU?? they are in the same gunsights.. .So the sale completes, if what Mr McCrann suggests is so and I would bet it is, there are going to be some very very angry creditors.
Silence, of course there is, have you ever tried speaking with a mouth full of feathers. <img src="rolleyes.gif" border="0">
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Sorry about the lack of news posts, used our. .$1 VB fares yesterday to Cairns here, have just. .found this internet lounge downtown, back in . .Brisbane Monday afternoon.
Wirraway
Thurs "The Australian"
Ansett sale falls into place
February 14, 2002
MORE pieces of the Ansett sale jigsaw are falling into place, with controversial negotiations over the Sydney Airport domestic terminal lease set to be finalised by the end of the week.
. .Would-be Ansett purchaser Tesna plans to use Sydney terminal as security for employees' entitlements.
Ansett administrator Mark Mentha has described the lease arrangements as a "condition precedent" for the Tesna sale deal.
Sydney Airports Corporation Ltd (SACL) is now awaiting awaiting the Ansett administrators response to its latest proposal for the transfer of leasing arrangements to Tesna Holdings.
Operators from another 12 airports are now anxious to finalise their own leases with Ansett.
Various federal government departments, meanwhile, are watching the various Ansett negotiations with interest.
A spokesman for federal Transport Minister John Anderson said the minister's office had been in "very, very regular contact" with all parties and did not believe there were any hurdles which could not be overcome.
Wirraway
Thurs "The Australian"
Ansett sale falls into place
February 14, 2002
MORE pieces of the Ansett sale jigsaw are falling into place, with controversial negotiations over the Sydney Airport domestic terminal lease set to be finalised by the end of the week.
. .Would-be Ansett purchaser Tesna plans to use Sydney terminal as security for employees' entitlements.
Ansett administrator Mark Mentha has described the lease arrangements as a "condition precedent" for the Tesna sale deal.
Sydney Airports Corporation Ltd (SACL) is now awaiting awaiting the Ansett administrators response to its latest proposal for the transfer of leasing arrangements to Tesna Holdings.
Operators from another 12 airports are now anxious to finalise their own leases with Ansett.
Various federal government departments, meanwhile, are watching the various Ansett negotiations with interest.
A spokesman for federal Transport Minister John Anderson said the minister's office had been in "very, very regular contact" with all parties and did not believe there were any hurdles which could not be overcome.
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There does seem to be something of a "silence" and to me it appears ominous. The two Marks must realise that this abrupt Virgin involvement by their only prospective purchaser is a major departure from the original game plan. I don't know anything about what is happening behind the scenes, but I do know from experience that when buyers introduce major last minute changes to deals, thay usually fall over, or at the very least cause untold delays. In this case, any delay clearly cannot be tolerated.
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I am starting to get really concerned out my payout, so far I have received less than 10%. Has anyone received more that this so far? I am starting to wonder if the SEESA money has been spent on running the airline. Any comments, probably a little off topic but I have been going on about this for a while now.
And they say silence is golden!
And they say silence is golden!
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This is on the Airbus site.
ANSETT OF AUSTRALIA TO ACQUIRE 30 A320 FAMILY AIRCRAFT FROM AIRBUS. .10 February 2002
The Australian investment group Tesna has decided to acquire 30 A320 Family airliners from Airbus - A320s and A321s - and to take an option on another ten, and has signed an MOU with Airbus to this effect in Toulouse on 10th February 2002.
Under the terms of the agreement, delivery of the aircraft to be operated by Ansett will begin in the second half of this year, and Airbus will provide all the training and field service support for these aircraft in Australia.
When announcing the deal, Tesna Co-Chairman Lindsay Fox stressed the significance of this agreement: “Airbus’ A320 Family is the most modern, efficient and environmentally friendly airliner family currently available, and will enable us offer our passengers the highest level of comfort, alongside the greatest operational flexibility and lowest operating costs.” And Co-Chairman Solomon Lew added: “I have confidence that this acquisition provides the basis for Ansett to grow and prosper in an extremely competitive and growing market”.
Ansett currently operates in Australia’s domestic market. The additional aircraft will allow it to further expand its scheduled service within Australia under the new ownership, and to continue to offer travelers the benefits of true competition. In addition to extremely low operating costs and a unique level of operational flexibility, the A320 Family has the widest cabin in its class with wider seats, and the benefit of containerised cargo underfloor.
Airbus Chief Commercial Officer John Leahy added: “This is a very significant transaction which demonstrates the confidence these successful entrepreneurs have in air transportation. Airbus is very proud to be part in this new undertaking which features the same pioneering spirit as the one which led Airbus to its current success”.
A leading aircraft manufacturer with the most modern and comprehensive product line on the market, Airbus is a global company with design and manufacturing facilities in France, Germany, the UK and Spain, as well as subsidiaries in the U.S, China and Japan. Headquartered in Toulouse, France, Airbus is a joint EADS Company with BAE SYSTEMS.
ANSETT OF AUSTRALIA TO ACQUIRE 30 A320 FAMILY AIRCRAFT FROM AIRBUS. .10 February 2002
The Australian investment group Tesna has decided to acquire 30 A320 Family airliners from Airbus - A320s and A321s - and to take an option on another ten, and has signed an MOU with Airbus to this effect in Toulouse on 10th February 2002.
Under the terms of the agreement, delivery of the aircraft to be operated by Ansett will begin in the second half of this year, and Airbus will provide all the training and field service support for these aircraft in Australia.
When announcing the deal, Tesna Co-Chairman Lindsay Fox stressed the significance of this agreement: “Airbus’ A320 Family is the most modern, efficient and environmentally friendly airliner family currently available, and will enable us offer our passengers the highest level of comfort, alongside the greatest operational flexibility and lowest operating costs.” And Co-Chairman Solomon Lew added: “I have confidence that this acquisition provides the basis for Ansett to grow and prosper in an extremely competitive and growing market”.
Ansett currently operates in Australia’s domestic market. The additional aircraft will allow it to further expand its scheduled service within Australia under the new ownership, and to continue to offer travelers the benefits of true competition. In addition to extremely low operating costs and a unique level of operational flexibility, the A320 Family has the widest cabin in its class with wider seats, and the benefit of containerised cargo underfloor.
Airbus Chief Commercial Officer John Leahy added: “This is a very significant transaction which demonstrates the confidence these successful entrepreneurs have in air transportation. Airbus is very proud to be part in this new undertaking which features the same pioneering spirit as the one which led Airbus to its current success”.
A leading aircraft manufacturer with the most modern and comprehensive product line on the market, Airbus is a global company with design and manufacturing facilities in France, Germany, the UK and Spain, as well as subsidiaries in the U.S, China and Japan. Headquartered in Toulouse, France, Airbus is a joint EADS Company with BAE SYSTEMS.
Moderate, Modest & Mild.
My sentiments also, Harvey. I believe that the M&M's have passed their PNR wrt selling to FLEW or choosing an alternative. Similarly, it appears to me, that Messrs Fox n' Lew might be suffering a dose of cold feet itis as Ansett's losses balloon almost daily, and are feeling more than a little uncomfortable at the prospect of ending up with the Titanic rather than Poseidon!
There could be some interesting legal precedents about to be set, or soon to follow, from the above players.
Stay tuned!
There could be some interesting legal precedents about to be set, or soon to follow, from the above players.
Stay tuned!
Nunc est bibendum
Rescue, Wirraway may be indeed in the far north but there is not a great deal of sunshine up here at the moment.
Humidity ranges between 99.3 and 100%! <img src="eek.gif" border="0">
NICEONE. You need to do a bit of a search for things like the quote you have posted. We've discussed that issue and the 'order' is worth nothing more than the paper it was reported in the media with!
[ 14 February 2002: Message edited by: Keg ]</p>
Humidity ranges between 99.3 and 100%! <img src="eek.gif" border="0">
NICEONE. You need to do a bit of a search for things like the quote you have posted. We've discussed that issue and the 'order' is worth nothing more than the paper it was reported in the media with!
[ 14 February 2002: Message edited by: Keg ]</p>
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I think Harvey Gee and I share a common background in these matters and what he says is indeed often true. Certainly the probability of failure increases exponentially the longer it drags.
The other thing that perplexes me is the absence of a "purchase deposit". You know the thing that you put down as an earnest of your good faith and as a bit of a "goosing agent" should you try to change the rules.. .You know, "I am going to take this thing off the market on the basis it is sold and that you need time to get your financing ducks in a row and will make your "earnest endeavours" to do so or I get to keep it as compensation." routine.. .If there is none and I seem to recall that they have to give FLEW $5,000,000 if they don't complete then this is, like every thing else about this deal, back to front.
Okie. .I'll believe that when I see it happen. I'll gaurantee that there are some of the 2Marks favourite "conditions precedent" attached to that little MOU. Whats the manufacturer going to do in this environment say, "no money no announcement", when there are several thousand hectares of aircrfat parked up around the place?.. .Nah, if they complete everyone at Airbus is happy if not who will notice.. .Toulouse or any of the other manufacturers know exactly how to play that game. I've seen em fly dead set carpetbaggers there for the 'Tour de Roi' just in case the others get em and just in case they get up. It's all just part of the sales game, am I right Harvey
[ 14 February 2002: Message edited by: gaunty ]</p>
The other thing that perplexes me is the absence of a "purchase deposit". You know the thing that you put down as an earnest of your good faith and as a bit of a "goosing agent" should you try to change the rules.. .You know, "I am going to take this thing off the market on the basis it is sold and that you need time to get your financing ducks in a row and will make your "earnest endeavours" to do so or I get to keep it as compensation." routine.. .If there is none and I seem to recall that they have to give FLEW $5,000,000 if they don't complete then this is, like every thing else about this deal, back to front.
Okie. .I'll believe that when I see it happen. I'll gaurantee that there are some of the 2Marks favourite "conditions precedent" attached to that little MOU. Whats the manufacturer going to do in this environment say, "no money no announcement", when there are several thousand hectares of aircrfat parked up around the place?.. .Nah, if they complete everyone at Airbus is happy if not who will notice.. .Toulouse or any of the other manufacturers know exactly how to play that game. I've seen em fly dead set carpetbaggers there for the 'Tour de Roi' just in case the others get em and just in case they get up. It's all just part of the sales game, am I right Harvey
[ 14 February 2002: Message edited by: gaunty ]</p>
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Strobes,
As usual you Yanks have it all wrong.... <img src="rolleyes.gif" border="0">
I did not say that at all, someone else said that, what I said was that we had been told up here, that Ansett would not be in business after this weekend. Still a few days to go yet. <img src="eek.gif" border="0">
Interesting article in the Townsville Bulletin today, which you probably don't get in the USA, where the loads on Ansett have now fallen even further, carrying something like less than 3000 people daily Australia wide, seems they will find it hard to come back from their current sad position. <img src="frown.gif" border="0">
[ 14 February 2002: Message edited by: Townsville Refueller ]</p>
As usual you Yanks have it all wrong.... <img src="rolleyes.gif" border="0">
I did not say that at all, someone else said that, what I said was that we had been told up here, that Ansett would not be in business after this weekend. Still a few days to go yet. <img src="eek.gif" border="0">
Interesting article in the Townsville Bulletin today, which you probably don't get in the USA, where the loads on Ansett have now fallen even further, carrying something like less than 3000 people daily Australia wide, seems they will find it hard to come back from their current sad position. <img src="frown.gif" border="0">
[ 14 February 2002: Message edited by: Townsville Refueller ]</p>