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  #41  
Old 29th February 2012, 01:12 PM
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Bernie P Bernie P is offline
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Default Air Australia owes up to $90 million
Back in the news...

Quote:
COLLAPSED budget airline Air Australia owes creditors up to 90 million dollars, and employees won't recoup all of their owed wages.

Administrators for the airline met with around 100 creditors at Brisbane's The Greek Club yesterday.

The meeting heard a federal government scheme would cover the 300 plus employees' unpaid wages, but limits payouts to 118 thousand dollars.

All up, only five million dollars of the eight million dollars owed in unpaid wages will be covered by the scheme.

Administrator KordaMentha partner Mark Korda says they've had four expressions of interest for the sale of the engineer business, but because the company leased everything there's not a lot to sell.

He expects about one million dollars to be made from sale of Air Australia's assets.
Read more: http://www.news.com.au/breaking-news...#ixzz1njkBmAJ8
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  #42  
Old 29th February 2012, 01:30 PM
Mick F Mick F is offline
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Ouch! So that leaves an $89 Million hole!
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  #43  
Old 29th February 2012, 01:37 PM
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Administrators for the airline met with around 100 creditors at Brisbane's The Greek Club yesterday.
Greek Club - very appropriate place to have meeting of a company having a financial crisis
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  #44  
Old 29th February 2012, 04:39 PM
Maikha Ly Maikha Ly is offline
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Originally Posted by Andrew P View Post
Greek Club - very appropriate place to have meeting of a company having a financial crisis
If this was Facebook, I'd 'Like' that reply!

More importantly, would any of the Management or board of Air Australia be facing charges in the future for this outcome?
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  #45  
Old 3rd April 2012, 06:09 PM
Nigel C Nigel C is offline
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A fire sale has begun with a bunch of airline stuff available to bid on at Grays Online. There's just under 20hrs left on the bidding.

The auction here http://www.graysonline.com/sale/7001...pment?spr=true


Need an air start cart for the old Datsun 180B? You'll find one here!
How about a ground power unit for this years Christmas lights? There's one of those available too!

The story here http://www.news.com.au/business/uniq...-1226317107399
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  #46  
Old 3rd April 2012, 08:34 PM
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Grahame Hutchison Grahame Hutchison is offline
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I thought I might bid on 1 x pallet of headphone ear sponges And then I noticed they were used.

Some interesting items and a few bargains.
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