JetStar HK!
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Cpt. Underpants
You are a funny guy
JIzzMonkey
I have a question for you . Do you think there is as an honest and respectable Airline Company in existence today ? If you are convinced of such then you are dillusional !
You are a funny guy
JIzzMonkey
I have a question for you . Do you think there is as an honest and respectable Airline Company in existence today ? If you are convinced of such then you are dillusional !
Last edited by Ghost_Rider737; 27th Jul 2012 at 20:07.
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Stanley Ho buys 1/3 of JM
10:41am: Bloomberg reports that Qantas and China Eastern Airline’s Hong Kong budget airline venture sold a stake in their airline to a company founded by billionaire Stanley Ho, which will help pave the way for an operating license.
The low-cost carrier, called Jetstar Hong Kong, sold a 33.3 per cent stake to Shun Tak Holdings, Sydney-based Qantas said in a statement today.
Qantas and China Eastern will hold 33.3 per cent each, according to the statement. The total capitalisation of Jetstar Hong Kong remains unchanged at $US198 million.
With the addition of the partner, Qantas group cut its initial planned equity investment to $US66 million from up to $US99 million. China Eastern and Shun Tak will also contribute up to $US66 million each, the statement said.
Read more: http://http://www.smh.com.au/busines...#ixzz2VOY6C4RM
The low-cost carrier, called Jetstar Hong Kong, sold a 33.3 per cent stake to Shun Tak Holdings, Sydney-based Qantas said in a statement today.
Qantas and China Eastern will hold 33.3 per cent each, according to the statement. The total capitalisation of Jetstar Hong Kong remains unchanged at $US198 million.
With the addition of the partner, Qantas group cut its initial planned equity investment to $US66 million from up to $US99 million. China Eastern and Shun Tak will also contribute up to $US66 million each, the statement said.
Read more: http://http://www.smh.com.au/busines...#ixzz2VOY6C4RM
Cathay lets fly at Jetstar's Hong Kong plan
Looks like CX is really **** scared about the impending arrival of Crapstar to the HK skies?
Looks like CX is really **** scared about the impending arrival of Crapstar to the HK skies?
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Being scared straight from the heart? Its time folks.
A better economy for the city or allow a monopoly? What do you think will the government choose? Locals have spoken!
Jetstar HK CEO Pansy Ho said she was excited about the opportunities Jetstar Hong Kong will bring for local residents, businesses and the tourism industry.
" I am passionate about establishing Hong Kong's truly local LCC and delivering low fares for this region," she said in a statement. "The airline will open up travel opportunities and bring great economic benefits to Hong Kong."
However, Jetstar HK is likely to be pipped at the post by Hong Kong Express, also 25 percent owned by Shun Tak, which will be rebranded and launched as a budget airline in October.
A sister to Hong Kong Airlines, Hong Kong Express is majority owned by China's Hainan Airlines Group, Hong Kong Express has been flying out of Hong Kong as a regional operator since 2006.
Jetstar HK says research shows eight out of 10 Hong Kong residents would welcome more low-cost carriers in Hong Kong, where the fledgling sector still accounts for just six percent of flights at Hong Kong International Airport.
It expects to contribute up to HK$8 billion annually to the Hong Kong economy when fully operational and employ 600 people by the time it grows to 18 aircraft.
" I am passionate about establishing Hong Kong's truly local LCC and delivering low fares for this region," she said in a statement. "The airline will open up travel opportunities and bring great economic benefits to Hong Kong."
However, Jetstar HK is likely to be pipped at the post by Hong Kong Express, also 25 percent owned by Shun Tak, which will be rebranded and launched as a budget airline in October.
A sister to Hong Kong Airlines, Hong Kong Express is majority owned by China's Hainan Airlines Group, Hong Kong Express has been flying out of Hong Kong as a regional operator since 2006.
Jetstar HK says research shows eight out of 10 Hong Kong residents would welcome more low-cost carriers in Hong Kong, where the fledgling sector still accounts for just six percent of flights at Hong Kong International Airport.
It expects to contribute up to HK$8 billion annually to the Hong Kong economy when fully operational and employ 600 people by the time it grows to 18 aircraft.
A better economy for the city or allow a monopoly? What do you think will the government choose? Locals have spoken!
Last edited by Soul planet; 5th Sep 2013 at 17:25.
All the Executive Directors at Swire Pacific are employees of John Swire and Sons Ltd. John Swire & Sons Ltd. head office is listed as Swire House, 59 Buckingham Gate, London SW1E 6AJ, England. Seems to have worked out all right so far
CX is using the argument that their head office is in Australia and not HK. Talking with people who have applied for work with JQ, they have been told that it will be done out of Australia!
Last edited by KABOY; 6th Sep 2013 at 01:48.
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All the Executive Directors at Swire Pacific are employees of John Swire and Sons Ltd. John Swire & Sons Ltd. head office is listed as Swire House, 59 Buckingham Gate, London SW1E 6AJ, England. Seems to have worked out all right so far.
Actually they are employees of John Swire and Sons (HK) Ltd, head office in Pacific Place HK...
Actually they are employees of John Swire and Sons (HK) Ltd, head office in Pacific Place HK...
Strewth
You do realise that if Cathay Pacific tried to set up an international airline in Australia they would be blocked by the Australian government because of the requirement for 51% ownership by Australians. Hong Kong has the same 51% ownership rule. Hong Kong isn’t China and China Eastern’s partnership doesn’t count as Hong Kong ownership period and Shun Tak Holding is only a minority shareholding. Unless Qantas changes the structure of their proposed "franchise" they, I’m afraid are in for a hiding to nowhere. A shelf company majority owned by foreign companies just won’t cut it. They are going to find out the hard way though how business is conducted in this city.
You also seem to have a very short memory because it was only a few short years ago that Singapore Airlines wanted to operate 5th freedom flights from Australia to the USA. Qantas were squawking like stuffed pigs and lobbied the Federal Government to block them.
Regarding the directors of John Swire & Sons (HK) Ltd, you do realise that it is a very common practice for directors of a company to be directors of multiple companies. Sh*t, most of QF’s board of directors are directors of multiple companies. Swire Pacific, not John Swire & Sons (HK) Ltd is the largest shareholder in CX. Swire Pacific which is a publically listed company on the HKSE is 44% owned by John Swire & Sons Ltd with the majority of shareholders being local Hong Kong investors.
To say the Hong Kong SAR Government is pissed off with Qantas would be an understatement. You don’t get things done in this town without including the government in your planning. To ambush the government with megaphone tactics, i.e. mass media releases before even discussing your plans with them was a major, major foe par.
Swire Fast Facts 2012
You do realise that if Cathay Pacific tried to set up an international airline in Australia they would be blocked by the Australian government because of the requirement for 51% ownership by Australians. Hong Kong has the same 51% ownership rule. Hong Kong isn’t China and China Eastern’s partnership doesn’t count as Hong Kong ownership period and Shun Tak Holding is only a minority shareholding. Unless Qantas changes the structure of their proposed "franchise" they, I’m afraid are in for a hiding to nowhere. A shelf company majority owned by foreign companies just won’t cut it. They are going to find out the hard way though how business is conducted in this city.
You also seem to have a very short memory because it was only a few short years ago that Singapore Airlines wanted to operate 5th freedom flights from Australia to the USA. Qantas were squawking like stuffed pigs and lobbied the Federal Government to block them.
Regarding the directors of John Swire & Sons (HK) Ltd, you do realise that it is a very common practice for directors of a company to be directors of multiple companies. Sh*t, most of QF’s board of directors are directors of multiple companies. Swire Pacific, not John Swire & Sons (HK) Ltd is the largest shareholder in CX. Swire Pacific which is a publically listed company on the HKSE is 44% owned by John Swire & Sons Ltd with the majority of shareholders being local Hong Kong investors.
To say the Hong Kong SAR Government is pissed off with Qantas would be an understatement. You don’t get things done in this town without including the government in your planning. To ambush the government with megaphone tactics, i.e. mass media releases before even discussing your plans with them was a major, major foe par.
Swire Fast Facts 2012
Strewth
Get a life. CX is a HK listed company and has been for many many years. As such it meets all the local requirements of directors and executives.
Jetstar Japan may be a better place to focus. BTW ..any of you guys with bus hours and approaching retirement...Japan beckons..paid holiday in a country with great food and golf. The salary ain't too bad either ..as long as you don't get claustrophobic in a 320.
Get a life. CX is a HK listed company and has been for many many years. As such it meets all the local requirements of directors and executives.
Jetstar Japan may be a better place to focus. BTW ..any of you guys with bus hours and approaching retirement...Japan beckons..paid holiday in a country with great food and golf. The salary ain't too bad either ..as long as you don't get claustrophobic in a 320.
Strewth
Qantas doesn’t want to set up a domestic operation in Hong Kong so you point is mute. All flights to and from Hong Kong are international flights requiring the Hong Kong government to negotiate on behalf of all Hong Kong airlines the rights to operate these flights, including to mainland China. Domestic flights in Australia don’t require the Australian government doing any negotiation on behalf of the airlines that operate domestically.
Just because Hong Kong doesn’t have a domestic aviation market because of its physical size at 62km x 45km, doesn’t give Qantas the right to try and use it against them to have the law changed to suite their own financial reasons. If Qantas want to set up a Jetstar franchise here it has to be 51% locally owned period just like any Australian airline that wants to operate internationally out of Australia has to be 51% Australian owned. And for the record Virgin Australia was broken up into two companies to comply with this law. Virgin Australia (International) is 51% locally owned.
Yes Cathay and or Swire could set up a domestic airline in Australia. Again this is a direct result of Australia’s physical size which supports a domestic aviation market. Whether they want too though is another matter. They do though have about 300 pilots based in Australia that are willing and able to fly those planes if it was ever to happened. This would severely affect the profitability of Qantas’s cash cow domestic operations potentially pushing the whole group into a loss making situation that is terminal.
Qantas doesn’t want to set up a domestic operation in Hong Kong so you point is mute. All flights to and from Hong Kong are international flights requiring the Hong Kong government to negotiate on behalf of all Hong Kong airlines the rights to operate these flights, including to mainland China. Domestic flights in Australia don’t require the Australian government doing any negotiation on behalf of the airlines that operate domestically.
Just because Hong Kong doesn’t have a domestic aviation market because of its physical size at 62km x 45km, doesn’t give Qantas the right to try and use it against them to have the law changed to suite their own financial reasons. If Qantas want to set up a Jetstar franchise here it has to be 51% locally owned period just like any Australian airline that wants to operate internationally out of Australia has to be 51% Australian owned. And for the record Virgin Australia was broken up into two companies to comply with this law. Virgin Australia (International) is 51% locally owned.
Yes Cathay and or Swire could set up a domestic airline in Australia. Again this is a direct result of Australia’s physical size which supports a domestic aviation market. Whether they want too though is another matter. They do though have about 300 pilots based in Australia that are willing and able to fly those planes if it was ever to happened. This would severely affect the profitability of Qantas’s cash cow domestic operations potentially pushing the whole group into a loss making situation that is terminal.
Fr8r H8tr
Whoops. In a way though I would like to hit the mute button on this whole topic.
744frt
So it is. If they opened the bases up though I'm sure that they would be inundated by Aussies wanting to take up a base.
Whoops. In a way though I would like to hit the mute button on this whole topic.
744frt
So it is. If they opened the bases up though I'm sure that they would be inundated by Aussies wanting to take up a base.
I think our little friend Strewth should have a read of the Hong Kong Basic Law. Article 128 would be a good starting point.
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Last edited by 404 Titan; 8th Sep 2013 at 06:50.
Strewth
What has capacity rights between Australia and Hong Kong got to do with Jetstar Hong Kong? It is irrelevant to the debate at hand and a distraction by you along with most of your arguments. If Qantas find it hard to fill aircraft then that’s their problem. Cathay certainly doesn’t and could easily fill additional flights if capacity was increased.
I suggest you read Article 135 again and think about it. Article 135 has nothing to do with it.
CX has already stated it has no problem with competition from LCC or any other airline. It already competes with 107 airlines in the Hong Kong market including 17 LCC’s. The only thing that will slow down much more competition is the capacity of HKIA.
That is only because of the late take up of LCC in Asia. Your 30% figure is greatly distorted by the percentage of pax using LCC in Europe and North America. The reason only seventeen LCC’s operate into HKIA is because of the cost of operating here. The reason LCC’s are so successful in Europe and North America is that they generally operate into secondary airports. I won’t even get started about the propensity of secondary airport owners in Europe to pay the LCC’s to operate there.
All air services agreements involving HK carriers and mainland carriers operating between HKSAR and PRC is done in consultation with the HKSAR government as per Article 131. The reality is that most air services agreements for HKSAR carriers are negotiated under Article 133, this includes between HKSAR and Australia.
Jetstar Hong Kong is 66.6% owned by foreign airlines, i.e. 33.3% by Qantas and 33.3% by China Eastern. By its own admission Jetstar Hong Kong is a franchise airline of Jetstar and controlled by Jetstar and Qantas in Australia. Please enlighten me how this business model complies with Hong Kong’s Basic Law. The business model proposed clearly indicates that its principle place of business is in Australia where control will be centred. I also seem to recall the Australian regulator CASA grounding Tiger Airways Australian franchise because control was in Singapore with the parent company rather than in Australia. Pretty hypocritical of Qantas to try and do the same thing in Hong Kong which was clearly unacceptable in Australia.
Cathay Pacific reached capacity on an agreement between Hong Kong and Australia. Why the Australian Government would agree to further expand capacity, considering Australian Airlines have not is best explained in a report by David Flynn in the ABT and Fairfax reporter Matt O’Sullivan.
Cathay’s Chief Operating Officer, Ivan Chu believes:
"At the end of the day the governments should look after the public interest, and expansion will provide more public interest. If there is more capacity, we will take advantage of that”.
This statement is inline with an Agreement between the Government of Hong Kong and the Government of Australia for the Promotion and Protection of Investments. In respect to this agreement Article 135 is interesting.
"At the end of the day the governments should look after the public interest, and expansion will provide more public interest. If there is more capacity, we will take advantage of that”.
This statement is inline with an Agreement between the Government of Hong Kong and the Government of Australia for the Promotion and Protection of Investments. In respect to this agreement Article 135 is interesting.
IATA estimates by 2015 to see an additional 840 million travellers in Asia. A future ASEAN open skies agreement and the degree of freedoms would also indicate a benefit to HK having a number of LCC based in the city. Why should HK and it’s people not benefit.
On average LCC take approximately 30% of the aviation market, however in HK it’s less than 6%.
Previous statements made in relation to the negotiation of rights of airlines based in the HKSAR and the P.R.C are dealt with in Article 131.
Qantas has a 33% interest in Jetstar Hong Kong Airways joint venture. This is well below the 49% foreign owned limit. The argument made in relation to this is debatable, however the Sovereignty of the HKSAR is not. I guess the interest of the people Hong Kong will answer the debate.
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Jetstar HK will definitely launch, its just the matter of time. Wait and see.
STP
Last edited by Steve the Pirate; 9th Sep 2013 at 12:44. Reason: Missed the emoticon first time.
Strewth
This was written by Andrew Pyne in Crikey.com in March last year. It’s still 100% relevant now as it involves the exact issue we are talking about.
Jetstar Hong Kong, and some flag carrier issues
And this today in the Sydney Morning Herald.
Jetstar Hong Kong runs into more turbulence
The reality is that the precedent has already been set in Hong Kong since the Basic Law became the constitution of the HKSAR in 1997. The formation of Hong Kong Airlines in 2006 from the old CR Airways was structured specifically to comply with the Basic Law. Hainan Airlines through its holding company Grand China Air bought a 45% share in Hong Kong Airlines with the remaining 55% being bought by Hong Kong businessman Mung Kin Keung.
This was written by Andrew Pyne in Crikey.com in March last year. It’s still 100% relevant now as it involves the exact issue we are talking about.
Jetstar Hong Kong, and some flag carrier issues
And this today in the Sydney Morning Herald.
Jetstar Hong Kong runs into more turbulence
The reality is that the precedent has already been set in Hong Kong since the Basic Law became the constitution of the HKSAR in 1997. The formation of Hong Kong Airlines in 2006 from the old CR Airways was structured specifically to comply with the Basic Law. Hainan Airlines through its holding company Grand China Air bought a 45% share in Hong Kong Airlines with the remaining 55% being bought by Hong Kong businessman Mung Kin Keung.
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Despite the growing opposition, Mr Orchard said he believed Jetstar Hong Kong would eventually win approval from regulators, though he admits it might require changes to its plans to get it across the line.
Jetstar Hong Kong boosted its bargaining position last month when it named Pansy Ho, one of the richest women in Hong Kong and the daughter of Mr Ho, as its chairwoman.
Qantas, Shun Tak and China Eastern each own a third of Jetstar Hong Kong.
Jetstar Hong Kong boosted its bargaining position last month when it named Pansy Ho, one of the richest women in Hong Kong and the daughter of Mr Ho, as its chairwoman.
Qantas, Shun Tak and China Eastern each own a third of Jetstar Hong Kong.
Jetstar HK has got almost a thousand employees and is still currently hiring. They even recently started simulation experiences for local students. You think the Ho empire will let this pass so easily? Don't forget he is the most powerful man in Macau. What about this combined with Aussie and China? Sorry but i have to go with - Jetstar HK will definitely launch.