Liquidation of the Ansett Group
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Liquidation of the Ansett Group
I am intrigued by the actions (or inactions) of the Liquidators of the Ansett Group of airlines. It is my understanding there were other offers for Ansett Airlines, however the Liquidators blatantly continued down the failed Tesna path long after the industry and public knew the Tesna bid would never settle.
There have been parties interested in Kendal and Hazelton, however rumour is they are either unable to contact the Liquidators or unable to finalise a deal. Two bidders claim they have simply “walked away” in frustration.
Even Flight West, although not part of the Ansett Group, seems to have been sold for a ridiculously low price to what appears to be “the last man standing”.
Procrastination on the sale of Ansett’s Sydney Airport complex almost saw the complex returned to its owner at no return to the Liquidators and therefore staff and creditors.
Surely the Liquidators have a simple legal mandate to sell to the highest bidder, either in whole, in part, or through liquidation of the assets?
Are we seeing possibly the greatest travesty of justice in Australian aviation history, where the staff and creditors return is minimized and Qantas assured of a virtual monopoly on Australian domestic and regional routes?
There have been parties interested in Kendal and Hazelton, however rumour is they are either unable to contact the Liquidators or unable to finalise a deal. Two bidders claim they have simply “walked away” in frustration.
Even Flight West, although not part of the Ansett Group, seems to have been sold for a ridiculously low price to what appears to be “the last man standing”.
Procrastination on the sale of Ansett’s Sydney Airport complex almost saw the complex returned to its owner at no return to the Liquidators and therefore staff and creditors.
Surely the Liquidators have a simple legal mandate to sell to the highest bidder, either in whole, in part, or through liquidation of the assets?
Are we seeing possibly the greatest travesty of justice in Australian aviation history, where the staff and creditors return is minimized and Qantas assured of a virtual monopoly on Australian domestic and regional routes?
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I have said it before and I will say it again, we must have a Royal Commission into this mess. As one of the creditors I want to know why the Administrators have not been able to obtain the best possible return for the creditors (all the creditors) Is it true that they have shredded all documents from Ansett??
Capt. No politician will agree to a Royal Commission unless he/she first knows the outcome!!
Strangely, the Courts seem to be sanctioning the Liquidator's actions in a manner which appears contrary to legislation.
I agree with the first post in this thread; the liquidators appear intent on total demise of the various Ansett air lines which must adversely affect dividends to creditors (and staff?).
Strangely, the Courts seem to be sanctioning the Liquidator's actions in a manner which appears contrary to legislation.
I agree with the first post in this thread; the liquidators appear intent on total demise of the various Ansett air lines which must adversely affect dividends to creditors (and staff?).
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Who is this group of so called "aviation experts" calling themselves "Australiawide" then ??
And were they they really the highest bidder, me smells rodent.
Like every thing else about this "administration" one must wonder.
Still it's SOP for the profession to see how much money they can transfer from the victims account to their own before finally releasing the usual "........we have explored all of the avenues available and regretably blah blah blah..." in the meantime the victim has been exsanguinated and the real saviours have left the field in despair.
Torres mate I don't think Little Johnnie will have much choice, if the other John is to keep faith with his country constituency.
Shakespeare said something about rotten and Denmark but I can't recall the context.
And were they they really the highest bidder, me smells rodent.
Like every thing else about this "administration" one must wonder.
Still it's SOP for the profession to see how much money they can transfer from the victims account to their own before finally releasing the usual "........we have explored all of the avenues available and regretably blah blah blah..." in the meantime the victim has been exsanguinated and the real saviours have left the field in despair.
Torres mate I don't think Little Johnnie will have much choice, if the other John is to keep faith with his country constituency.
Shakespeare said something about rotten and Denmark but I can't recall the context.
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Ansett is currently being operated under a deed of company arrangement, not being liquidated. It is the act of being liquidated which forces the administrators to sell to the highest possible bidder, as low as that may be,e.g. Flight West. Unfortunately, there is only so much of the carcass that any body wants. And they know that in most instances they can try to out wait everybody and try to pick it up for knicks. As for a Royal Commission - Little Johnny will not allow the besmirchment of his legacy to Australian politics by evidence of the premeditated destruction (once the oportunity presented itself) of a heavily unionised airline. And as for slimey John from the Bush - I wouldn't **** on him if he was on fire. . The New Zuland Government, She who would be He, and ANZ are equally culpable.
The only way the truth will get out is if a book is written - in the distant future.
The only way the truth will get out is if a book is written - in the distant future.
Moderate, Modest & Mild.
Or Brad Norrington, of Sky Pirates fame.
If ANYTHING is published, and it follows past tradition, it will appear very shortly and will gloss across the surface, rendering an account that suits the financier/publisher, satisfies the majority (who really couldn't care less), and remains as the "reference".
Truth??
Forget it!
The public have no right to know the truth!!
Subsequent to the Dispute, I saw some very good papers researched by Uni students studying Industrial Relations. They provided far more detail and insight into that event than the glossy publication ("Sky Pirates") published in 1990.
If ANYTHING is published, and it follows past tradition, it will appear very shortly and will gloss across the surface, rendering an account that suits the financier/publisher, satisfies the majority (who really couldn't care less), and remains as the "reference".
Truth??
Forget it!
The public have no right to know the truth!!
Subsequent to the Dispute, I saw some very good papers researched by Uni students studying Industrial Relations. They provided far more detail and insight into that event than the glossy publication ("Sky Pirates") published in 1990.
Gaunty. "Australiawide" seems to be the Ansett staff bid. With the "accountability" demonstrated to date by the Liquidators I wonder if details of their bid will ever be known?
One "front runner" I am aware of has not yet been advised their bid is unsuccessful.
These certainly appears to be something decidedly weird (for lack of a better word........) about the entire process.
One "front runner" I am aware of has not yet been advised their bid is unsuccessful.
These certainly appears to be something decidedly weird (for lack of a better word........) about the entire process.
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Preferred bidder announced
It was announced this morning in the Financial Review. Australiawide Airlines has 2 weeks to finalise a combined hazo/kd bid, $500 000 deposit has been paid. Staff have also been notified (after the paper).
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The Australian taxpayer can not know how lucky they are that Labor did not win the last election. They would now be down several billion just for starters.
This whole thing seems to be captive to the unions and other agenda other than straight business sense.
I've said it before the airline has a responsibility to run safely and efficiently and charge what it costs to do so.
Whether the "fare" is "acceptable" or not to the "disadvantaged" country users is not the airlines, but a political problem and requires the only equitable political solution available and its called a SUBSIDY as part of the necessary "price equalisation" policy.
Said subsidy was so far invisible in say Telstra or the previous airline paradigm so the pols could get away without having to front it.
Game now over here, so now they are going to have to face up.
This whole thing seems to be captive to the unions and other agenda other than straight business sense.
I've said it before the airline has a responsibility to run safely and efficiently and charge what it costs to do so.
Whether the "fare" is "acceptable" or not to the "disadvantaged" country users is not the airlines, but a political problem and requires the only equitable political solution available and its called a SUBSIDY as part of the necessary "price equalisation" policy.
Said subsidy was so far invisible in say Telstra or the previous airline paradigm so the pols could get away without having to front it.
Game now over here, so now they are going to have to face up.
I wonder how many have heard of the Federal Government RASS Scheme managed by the Federal Department of Transport? (Rural Air Services Subsidy Scheme).
I think is commenced around 1954 with Bush Pilot Airways. At last count there were approximately five rural air services still receiving RASS subsidies.
I think is commenced around 1954 with Bush Pilot Airways. At last count there were approximately five rural air services still receiving RASS subsidies.
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Dumb and Dumber (the two Marks) have had over seven months to sell the assets. What have they achieved so far?? They have run the Airline at a large loss to creditors, paid out part of the staff entitlements from the $303 Million loan given to them by the government via the ticket tax. Sold the Sydney terminal to the Government for $200 Million which is about $80 Million less than it cost to refurbish. If you take out the taxpayers who own SACL and the passengers paying the $10 ticket tax what have they actually sold to private enterprise?? Whatever it is, I bet it is less than their fees will be at the end of the administration.
p.s. How many staff are still on the payroll?? Surely any airline buying A/C from Ansett can use their own Pilots to pick them up.
p.s. How many staff are still on the payroll?? Surely any airline buying A/C from Ansett can use their own Pilots to pick them up.
