jetfuel
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Air Australia In Trouble?

Wed Feb 15, 2012 11:14 am

Initial rumours early this morning have firmed up that Strategic could be placed into administration, or already has been,due to it being unable to repay its debt to lender ANZ.High oil prices and weakening yields, or ticket prices, have hurt the industry in general and particularly Australian carriers which have seen an onslaught of offshore competition operating off lower cost bases. One source suggested to Street Talk that KordaMentha, which ran the massive Ansett administration for more than 10 years, has already been appointed.


If the administration is confirmed, it will be the end of an airline – at least in its current form – that had promised to bring competition to Qantas and particularly Virgin Australia, marketing low-cost air fares on a young fleet of aircraft to international leisure destinations such as Phuket and Hawaii in addition to domestic flights.
Air Australia had been planning to add routes in Vietnam and China and eventually the US west coast off a larger fleet of leased Airbus A330 jets, chief executive and sole shareholder Michael James said in an interview last month.

Calls to the press office at Strategic have been met with the vague response that the company cannot comment on anything right now but will be issuing a formal statement. The Air Australia website was still selling tickets for travel this month as of 2:30pm on Wednesday.

Source http://www.afr.com/p/markets/market_...r_australia_E11h5LuuK5pcgnUrkcjbKN
Where's the passion gone out of the airline industry? The smell of jetfuel and the romance of taking a flight....
 
PezySPU
Posts: 281
Joined: Mon Dec 12, 2011 1:27 pm

RE: Air Australia In Trouble?

Wed Feb 15, 2012 11:16 am

Ah, would be a shame, they just recently rebranded...
 
qf002
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Joined: Tue Jul 05, 2011 11:14 am

RE: Air Australia In Trouble?

Wed Feb 15, 2012 12:17 pm

Sad, but not surprising. They've been making masses of investment, with very little prospective return in the short-medium term. I just hope that I'll get a chance to see one of their A332's in the new livery before they disappear (have any even been painted yet, or is it just the A320?)
 
ben175
Posts: 526
Joined: Wed Jul 02, 2008 12:44 pm

RE: Air Australia In Trouble?

Wed Feb 15, 2012 12:19 pm

Uh oh, I am VERY close to buying MEL-HNL-BNE tickets with them in July!
 
jetfuel
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RE: Air Australia In Trouble?

Wed Feb 15, 2012 1:37 pm

AUSTRALIA's newest budget international airline, Air Australia, is working closely with specialists from the advisory arm of corporate paramedic KordaMentha in a bid to turn around its ailing business.Air Australia confirmed yesterday that specialists from KordaMentha had been working in an advisory capacity for the airline for the past five to six months

The confirmation of KordaMentha's presence at the Brisbane airline follows intense speculation yesterday about its future. The airline is still taking bookings but it declined to respond further yesterday to questions about its financial health.

Air Australia and its parent are yet to file accounts for 2011 but statements lodged with the corporate regulator last February show it was under financial pressure.

Read more: http://www.brisbanetimes.com.au/busi...-20120215-1t6dq.html#ixzz1mWoKxY6g
Where's the passion gone out of the airline industry? The smell of jetfuel and the romance of taking a flight....
 
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9MMPQ
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RE: Air Australia In Trouble?

Wed Feb 15, 2012 8:14 pm

I'd just been looking at them for HKT-BNE later this year. I already dodged problems with TT & QF last year, 3rd time unlucky ? I'll be keeping myself up to date then !
I believe in coincidences. Coincidences happen every day. But I don't trust coincidences.
 
dhr
Posts: 117
Joined: Mon Jun 04, 2007 7:35 am

RE: Air Australia In Trouble?

Wed Feb 15, 2012 8:43 pm

What about their ACMI airline based in Luxembourg, I've heard rumors they are looking for buyers but I'm not really sure if they have any aircraft on that AOC.
 
lhr380
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RE: Air Australia In Trouble?

Wed Feb 15, 2012 8:53 pm

They had a good niche as they were with Strategic, re-branding was a (imho) a very bad idea for them.
(The views on this site are my own and no one elses)
 
jetfuel
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RE: Air Australia In Trouble?

Fri Feb 17, 2012 2:46 am

HUNDREDS of passengers have vented their fury at Air Australia after the airline went bust this morning and grounded flights, leaving them stranded.There are reports the airline sold approximately 100,000 tickets for future flights that are unlikely to ever take off.


Read more: http://www.news.com.au/travel/news/b...frfq80-1226273367460#ixzz1mfrRnRnY
Where's the passion gone out of the airline industry? The smell of jetfuel and the romance of taking a flight....