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AusJet Aviation / Australasian Jet in liquidation

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AusJet Aviation / Australasian Jet in liquidation

Old 13th Dec 2018, 21:36
  #81 (permalink)  
 
Join Date: Mar 2003
Location: NSW Australia
Posts: 2,302
Choppa - I have the same issue as you do with that. Every flight I do as a Flight Examiner I have to occupy a control seat if there is one available. On the Renmark accident SG should have been in the front row.
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Old 15th Dec 2018, 14:23
  #82 (permalink)  
 
Join Date: Jul 2005
Location: Earth
Posts: 190
Oh well, getting back to Australasian Jet Pty Ltd ACN 051 843 586, now under External Administration .. This is a member's (ie., shareholder's) Voluntary winding up, meaning that the process has been initiated by the directors of the company consequent to a resolution of the shareholders (there are several Ausjet companies in the pot) and the Administrator is selected and paid by the directors.
This is different to a Creditor's winding up, where the creditor's initiate and oversee the process and pay and direct the Administrator and eventual Liquidator.
It's a big difference. Normally the creditors, if they are professional business people, ie., those who go out of their way to pay for their own accounting and legal advice on everything they do before they do it, vote out the director's appointed Administrator at the 'first meeting' so as to take control of the process to prevent any funny business. That meeting was on Friday - anyone know how it went ?

Also, who is/was Vincent M Rizzo ? He was a 50% owner of the principle Auset trading company (ie., he owned half of 'Ausjet') back in '06 when I was looking deep into it, and no one seemed to know anything about him. He comes up as a current era Melbourne accountant.

Flying Bear, re your post above. CAR 219 provides a structure which when used would overcome the mess to which you allude. CASA however seems to regard CAR 219 as invisible.

Last edited by The Wawa Zone; 16th Dec 2018 at 02:05.
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Old 21st Dec 2018, 19:21
  #83 (permalink)  
 
Join Date: Dec 2018
Location: Melbourne
Posts: 2
Ausjet continues

I was appointed the CEO of Australasian Jet on 19 October 2018, at that time Ausjet were in a dispute with their bank. Ausjet upgraded its management over the course of the latter half of the year, in order to lift the company from its previous poor management.
There are two main reasons why business fails, they being, that there is no market for the product and the company has failed to diversify and evolve, or poor management.

The companies previous management was poor and the director who was a colourful visionary experienced a period of poor health after the death of both of his parents. He addressed those issues and came back strong and focused. We joined together in a formidable team knowing that time was critical. In the last eight weeks of the year set about winning new contracts which we did and concentrated the business on what we do best. Specialised airwork.

We were successful in refinancing due to the abilities of the staff and our aviation platform, supported by our contracts and the new direction. The bank gracefully accepted our offer and we are moving forward.

We thank the the industry and staff for their continued support. Ausjet is a great Australian story and we look forward to our positive continued contribution to the community.
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Old 24th Dec 2018, 12:54
  #84 (permalink)  
 
Join Date: Jan 2013
Location: North South
Posts: 56
So has ausjet started flying now?
Corvallis is online now  
Old 24th Dec 2018, 15:36
  #85 (permalink)  
 
Join Date: Dec 2018
Location: Melbourne
Posts: 2
Ausjet is moving forward

We never stopped flying.
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Old 24th Dec 2018, 21:09
  #86 (permalink)  
 
Join Date: Sep 2018
Location: Melbourne
Posts: 313
I hope you guys stay liquid for the sake of the innocent, the employees the ones that actually make up a Co!
I used to work for AJ back in the 90's, in the heady days of Govt work & plenty of charter but I could see the joint was being lead down the garden path by the owners son:-(
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Old 25th Dec 2018, 04:39
  #87 (permalink)  
 
Join Date: Jan 2013
Location: North South
Posts: 56
Itís hard to believe that this company will ever rise again. The new ceo claims that the previous management was no good but any new ceo can say that about the old ceo.
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Old 25th Dec 2018, 05:45
  #88 (permalink)  
 
Join Date: Sep 2018
Location: Melbourne
Posts: 313
Originally Posted by Corvallis View Post
Itís hard to believe that this company will ever rise again. The new ceo claims that the previous management was no good but any new ceo can say that about the old ceo.
If you knew the previous management then you might understand a little more. The business was bound to collapse, Only so much can be drained out of the business in lean times, the 'tap' has been wide open for many years!
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Old 25th Dec 2018, 06:07
  #89 (permalink)  
 
Join Date: Jan 2013
Location: North South
Posts: 56
Hopefully things workout for everyone. Hope for the best I guess.
Corvallis is online now  
Old 23rd Jan 2019, 05:41
  #90 (permalink)  
 
Join Date: May 2001
Location: passing a cloud
Posts: 317
Got this today for those interested.Subject: Ausjet Group - Update on sale process

Australasian Jet Pty. Ltd. ACN 051 843 586
Ausjet Helicopters Pty Ltd ACN 152 093 000
Ausjet Aviation Group Pty Ltd ACN 162 821 909
The Experiences Group Ltd ACN 139 054 998
(Administrators Appointed) (the Group)

Dear Sir / Madam

Thank you for your registering your interest to acquire assets of the Ausjet Group.

Further to our previous updates, we can now advise the Group has successfully completed a refinance on 21 January 2019, and as a result, MF and MF were retired as Receivers and Managers on this date. Consequently, the assets are no longer for sale.


So that basically closes the door on the issue...Ö. question now is who is the new partner/funder?

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Old 5th Feb 2019, 05:30
  #91 (permalink)  
 
Join Date: Feb 2019
Location: Beverley WA
Posts: 2
So if Ausjet is still going, when will they refund people for the cancelled flights in WA?
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Old 6th Feb 2019, 20:59
  #92 (permalink)  
 
Join Date: Feb 2019
Location: Beverley WA
Posts: 2
Originally Posted by edsbar View Post
AusJet not Ozjet .....
Donít know who/what Ozjet is.
Ausjet run Air Nostalgia who owe customers money for flights which never happened.
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Old 11th Feb 2019, 02:42
  #93 (permalink)  
 
Join Date: Feb 2002
Location: NSW
Posts: 135
Back to the receivers as the 'white knight' rode away it seems...
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Old 11th Feb 2019, 08:43
  #94 (permalink)  
 
Join Date: Apr 2008
Location: Sydney
Age: 57
Posts: 341
Originally Posted by Clare Prop View Post
The fatigue rules, in my case App6, mean that I have basically lost 10% of trading days per year on top of lost days from weather or waiting for parts and those days I do work have to be much more intense...then still have to cancel all lessons and Grade 3 supervision if I run up against that 7th day in the last 28. Nothing but arbitrary numbers that were designed for operators with lots of staff and regular rosters, not a small, seasonal 141 operation.
I've seen so many flying schools that have upgraded to new kit go to the wall while those of us with old hardware that we own and that have paid for themselves many times over are still around. There isn't enough fat to take on massive amounts of finance for new aircraft especially when you are getting quite long in the tooth and not enough working years left in us to be able to pay them off..and not much of a resale market, either.
Every time someone goes under owing money all over the place the suppliers have to recoup their losses from the remaining customers. Yet still we have people thinking it is clever to start price wars.
So we have to muddle on in our relics as best we can.
CP, you are spot on! Thatís why sold I my outfit several years ago while it was still a viable business. I could see the writing on the wall, so glad Iím out of it.
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Old 14th Feb 2019, 07:34
  #95 (permalink)  
 
Join Date: Jan 2012
Location: Perth Australia
Age: 57
Posts: 1
Grrr Looks like we wont see refunds,

Originally Posted by Littlehill View Post
So if Ausjet is still going, when will they refund people for the cancelled flights in WA?
I was promised by an Anita Carter that we now refunded and that refunds would be within the week, that was on 23 January 2019 and you know what, no payment made.
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Old 15th Feb 2019, 05:34
  #96 (permalink)  
 
Join Date: Jan 2013
Location: North South
Posts: 56
Game over

Heard they shut doors today. Administrators closed business.
over 35 pilots out of work.!

Last edited by Corvallis; 16th Feb 2019 at 11:04.
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Old 15th Feb 2019, 05:46
  #97 (permalink)  
 
Join Date: Nov 1999
Posts: 184
Originally Posted by davidkleperth View Post
I was promised by an Anita Carter that we now refunded and that refunds would be within the week, that was on 23 January 2019 and you know what, no payment made.
So you want to inflict more damage so you definitely don't get paid. While I sympathise, I'm not sure your approach will achieve exactly what you appear to want.
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Old 16th Feb 2019, 02:38
  #98 (permalink)  
 
Join Date: Jul 2005
Location: Earth
Posts: 190
Originally Posted by Corvallis View Post
Heard they shut doors today. Administrators closed business
If you want to spend some money to see the compulsory reports lodged by various parties, try https://connectonline.asic.gov.au/Re...e=o5bnintmk_40
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Old 6th Mar 2019, 04:52
  #99 (permalink)  
 
Join Date: Jun 2018
Location: PNG
Posts: 12
Aircraft disposal taking place today with one or more already heading off the 'new' owners
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Old 18th Mar 2019, 06:28
  #100 (permalink)  
 
Join Date: Feb 2017
Location: The Pointy End
Posts: 21
I heard Ausjet finally closed doors last weekend. Bit of an unfortunate sign for Aussie GA.
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