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I'm also against BODY-SURFING!!


aus+uk / aus.aviation / QF in a pickle

SubjectAuthor
* QF in a pickleJames Last plays in Miami
`* Re: QF in a pickleFalscher Bruce
 +- Re: QF in a pickleMountain Magpie
 `* Re: QF in a picklePhil Allison
  `* Re: QF in a pickleMagani
   `* Re: QF in a picklePhil Allison
    `* Re: QF in a pickleMagani
     `* Re: QF in a picklePhil Allison
      `* Re: QF in a pickleMountain Magpie
       `* Re: QF in a picklePhil Allison
        `- Re: QF in a pickleMountain Magpie

1
QF in a pickle

<io32n7F4nlfU4@mid.individual.net>

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From: kill.fil...@such.as.Ordog.com (James Last plays in Miami)
Newsgroups: aus.aviation
Subject: QF in a pickle
Date: Wed, 18 Aug 2021 10:27:35 +1000
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 by: James Last plays in - Wed, 18 Aug 2021 00:27 UTC

Booked SYD-MEL-SYD 22 August some time back well before the lock downs.

I later knew because of lock down in SYD that I couldn't travel anyway,
but hung in there to see what QF would do, refund, etc? Best they
offer, IMO. And then lock down kicked in at MEL as well.

Been receiving messages from QF moving MEL-SYD forward by one and half
hours, now they have moved it forward to leave MEL before the initial
SYD-MEL leg goes LOL.

Dreading ringing them to arrange a refund - "your call is important blah
blah"..........zzzzzzzzzzz They say I can do this on the website in
the SMS they sent, but it must be well hidden!

Re: QF in a pickle

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Subject: Re: QF in a pickle
From: bruc...@topmail.co.nz (Falscher Bruce)
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 by: Falscher Bruce - Sat, 28 Aug 2021 07:35 UTC

surely they must be trading-while-insolvent by now?

Re: QF in a pickle

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From: Leu...@bluemountains.org (Mountain Magpie)
Newsgroups: aus.aviation
Subject: Re: QF in a pickle
Date: Sat, 28 Aug 2021 09:24:02 -0000
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 by: Mountain Magpie - Sat, 28 Aug 2021 09:24 UTC

On Sat, 28 Aug 2021 00:35:32 -0700 (PDT), Falscher Bruce posted:-

> surely they must be trading-while-insolvent by now?

If they can meet their debts if and when they fall due, they are not
insolvent.

Who knows what cash reserves they have, and undrawn loan facilities.

And not seeing the financial statements & balance sheet, but a lot of
the loss could be depreciation of aircraft (like when they wrote down
the A380 metal).

This would not affect the cash position.

"Creative" accounting?

Re: QF in a pickle

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Subject: Re: QF in a pickle
From: palliso...@gmail.com (Phil Allison)
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 by: Phil Allison - Sat, 28 Aug 2021 10:18 UTC

Falscher Bruce wrote:
==================
>
> surely they must be trading-while-insolvent by now?

** Probably just about "flying on fumes".

Was published while back that QF was good for one year of shutdown level business.
That deadline has expired.
Like with so many businesses badly mauled by the pandemic, there is NO point in creditors doing a thing.

If they chose to force QF into bankruptcy, who is gonna buy the assets at a worthwhile price ??

It's the famous old maxim:

Owe the bank $10 million - big problem for you.
Owe the bank $1000 million - big problem for the bank.

........ Phil

Re: QF in a pickle

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Subject: Re: QF in a pickle
From: cdsr...@gmail.com (Magani)
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 by: Magani - Sun, 29 Aug 2021 00:11 UTC

On Saturday, 28 August 2021 at 8:18:06 pm UTC+10, palli...@gmail.com wrote:
> Falscher Bruce wrote:
> ==================
> >
> > surely they must be trading-while-insolvent by now?
> ** Probably just about "flying on fumes".
>
> Was published while back that QF was good for one year of shutdown level business.
> That deadline has expired.
> Like with so many businesses badly mauled by the pandemic, there is NO point in creditors doing a thing.
>
> If they chose to force QF into bankruptcy, who is gonna buy the assets at a worthwhile price ??
>
> It's the famous old maxim:
>
> Owe the bank $10 million - big problem for you.
> Owe the bank $1000 million - big problem for the bank.
>
>
> ....... Phil

Too big to fail?

Re: QF in a pickle

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Subject: Re: QF in a pickle
From: palliso...@gmail.com (Phil Allison)
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 by: Phil Allison - Sun, 29 Aug 2021 00:32 UTC

Magani wrote:
============
>
> > ** Probably just about "flying on fumes".
> >
> > Was published while back that QF was good for one year of shutdown level business.
> > That deadline has expired.
> > Like with so many businesses badly mauled by the pandemic, there is NO point in creditors doing a thing.
> >
> > If they chose to force QF into bankruptcy, who is gonna buy the assets at a worthwhile price ??
> >
> > It's the famous old maxim:
> >
> > Owe the bank $10 million - big problem for you.
> > Owe the bank $1000 million - big problem for the bank.
> >

> Too big to fail?

** Not at all.

QF ( along with many others) provides a luxury service - not crucial to the economy.

....... Phil

Re: QF in a pickle

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Subject: Re: QF in a pickle
From: cdsr...@gmail.com (Magani)
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 by: Magani - Sun, 29 Aug 2021 22:18 UTC

On Sunday, 29 August 2021 at 10:32:59 am UTC+10, palli...@gmail.com wrote:
> Magani wrote:
> ============
> >
> > > ** Probably just about "flying on fumes".
> > >
> > > Was published while back that QF was good for one year of shutdown level business.
> > > That deadline has expired.
> > > Like with so many businesses badly mauled by the pandemic, there is NO point in creditors doing a thing.
> > >
> > > If they chose to force QF into bankruptcy, who is gonna buy the assets at a worthwhile price ??
> > >
> > > It's the famous old maxim:
> > >
> > > Owe the bank $10 million - big problem for you.
> > > Owe the bank $1000 million - big problem for the bank.
> > >
> > Too big to fail?
>
> ** Not at all.
>
> QF ( along with many others) provides a luxury service - not crucial to the economy.
>
>
> ...... Phil

>"provides a luxury service - not crucial to the economy. "
Those in outback Qld and NSW may not agree.

Cheers,
Magani

Re: QF in a pickle

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Subject: Re: QF in a pickle
From: palliso...@gmail.com (Phil Allison)
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 by: Phil Allison - Sun, 29 Aug 2021 22:45 UTC

Magani wrote:
=============
> > >
> > > Too big to fail?
> >
> > ** Not at all.
> >
> > QF ( along with many others) provides a luxury service - not crucial to the economy.
> >
> >
> > ...... Phil
>
> >"provides a luxury service - not crucial to the economy. "

> Those in outback Qld and NSW may not agree.

** So fucking what?

That is a really dumb false argument - an nice example of obliquely citing the imaginary view of an absent non expert.

Qantas can fail, others will not and carry on with essential stuff.

...... Phil

Re: QF in a pickle

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From: Leu...@bluemountains.org (Mountain Magpie)
Newsgroups: aus.aviation
Subject: Re: QF in a pickle
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 by: Mountain Magpie - Sun, 29 Aug 2021 23:01 UTC

On Sun, 29 Aug 2021 15:45:26 -0700 (PDT), Phil Allison posted:-

> Qantas can fail

But they won't.

Re: QF in a pickle

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Subject: Re: QF in a pickle
From: palliso...@gmail.com (Phil Allison)
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 by: Phil Allison - Mon, 30 Aug 2021 00:04 UTC

Mountain Magpie pooped:
-----------------------------------------
> > Qantas can fail
>
> But they won't.

** Really - got shares in QF have you ?

See MASSIVE list of now defunct Aussie airlines, 141 of them:

https://en.wikipedia.org/wiki/Category:Defunct_airlines_of_Australia

....... Phil

Re: QF in a pickle

<ip35k1Faqv2U6@mid.individual.net>

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From: Leu...@bluemountains.org (Mountain Magpie)
Newsgroups: aus.aviation
Subject: Re: QF in a pickle
Date: Mon, 30 Aug 2021 04:18:00 -0000
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 by: Mountain Magpie - Mon, 30 Aug 2021 04:18 UTC

On Sun, 29 Aug 2021 17:04:06 -0700 (PDT), Phil Allison posted:-

> Mountain Magpie pooped:
> -----------------------------------------
> > > Qantas can fail
> >
> > But they won't.
>
> ** Really - got shares in QF have you ?
>
> See MASSIVE list of now defunct Aussie airlines, 141 of them:
>
> https://en.wikipedia.org/wiki/Category:Defunct_airlines_of_Australia
>
>
>
> ...... Phil
>
>
>

Phil, so are you saying they will, or just having a bit each way?

And if you suspect they will, when?

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