Jfk777 From United States, joined Aug 2006, 3332 posts, RR: 0 Reply 2, posted (3 years 22 hours ago) and read 1470 times:
Qantas should not be merged into Singapore Airlines as id often rumored. Qanats should by Air New Zealand and create The South Pacific power, it could have a huge LAX operation to LHR and 10 daily flights to ALK, MEL, SYD abd Brisbane. Love all the red 747 at LAX every day.
Nzrich From New Zealand, joined Dec 2005, 1368 posts, RR: 2 Reply 3, posted (3 years 14 hours ago) and read 1098 times:
Quoting Jfk777 (Reply 2): Qantas should not be merged into Singapore Airlines as id often rumored. Qanats should by Air New Zealand and create The South Pacific power, it could have a huge LAX operation to LHR and 10 daily flights to ALK, MEL, SYD abd Brisbane. Love all the red 747 at LAX every day.
Wont happen ever ...Not with Air NZ owned 80% by the NZ government also i then becomes a problem with being anti competitive ..
They would have 100% of nz domestic market and 80% of trans tasman market and 100% of nz-america market
PatZSC From Hong Kong SAR, PRC, joined Oct 2006, 26 posts, RR: 0 Reply 4, posted (2 years 11 months 3 weeks 2 days 5 hours ago) and read 682 times:
There is some new developments on this:
MELBOURNE (Standard & Poor's) Nov. 22, 2006--Standard & Poor's Ratings
Services today said that it had placed its 'BBB+/A-2' corporate credit ratings
on Qantas Airways Ltd. and related debt issues on CreditWatch with negative
implications. This action follows Qantas' announcement today that it has been
approached regarding a potential takeover of the company by a private equity
consortium, led by Macquarie Bank and Texas Pacific Group.
The CreditWatch placement reflects the potential significant weakening in
credit quality that could accompany a successful leveraged buyout (LBO) of
Qantas, given the expectation that any buyout would be substantially debt
financed. It is not clear at this stage as to how a potential takeover would
be structured, considering the various ownership restrictions that exist,
including a 49% limit on foreign ownership and a 25% limit on any single
foreign shareholding.
Importantly for debtholders, Qantas existing U.S. dollar bonds and
Australian dollar medium-term notes (MTNs) do not include any covenant
protection against an LBO, and as such cannot demand repayment in the event of
a successful LBO. However, lenders under Qantas' A$1.9 billion syndicated loan
note bank facility benefit from adequate protection mechanisms against an LBO,
including a change of control termination event and limitations on secured
debt. Standard & Poor's also notes that the bonds and MTNs do not include
sufficient cross-default protection to facilitate repayment if the syndicated
bank facility becomes repayable.
Standard & Poor's will continue to monitor progress with regard to the
private equity approach and will update the CreditWatch as new information
becomes available.
Boysteve From United Kingdom, joined Apr 2004, 736 posts, RR: 0 Reply 6, posted (2 years 11 months 3 weeks 13 hours ago) and read 435 times:
The take over bid has been made by Texas Pacific Group, a private equity firm. They owned Continental airlines at one point and did well out of it. They also own Gate Gourmet, BA's LHR based caterer, which hasn't gone so well!
Jasond From Australia, joined Jul 2009, 13 posts, RR: 0 Reply 8, posted (2 years 11 months 2 weeks 6 days 22 hours ago) and read 302 times:
Quoting Zizou (Reply 5): Well I guess there will be more job losses at Qantas now.
What??? Explain yourself, PLEASE Consider for a moment:
1) That the takeover is inevitable, you obviously think that it is
2) That the fund source for any takeover is now recognised as being meritless based on the fact that it is largely debt based. Yeah not bad to be considered by one of the most successful airlines in the world
3) That the Australian government would allow such a carte blanche attempt at robbing this country of such an icon, believe me when I say, there would be rioting in the streets of our fair country.
As Geoff Dixon pointed out today, take a cold shower dude and relax!!
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