Financial Position of * Members
Sep 15, 2001, 5:18 am
#1
Original Poster
Join Date: Apr 2001
Location: SYD
Posts: 1,363
Financial Position of * Members
With the collapse of AN, I started thinking about the financial position of other * members.
NZ - They are in all sorts of strife, but seeing as they are THE national carrier of NZ, I guess they won't go under...
UA - Common knowlegde that they are losing an absolute (note - must stop saying that word) fortune.
TG - Aren't they in a bit of strife as well?
What about the other airlines? Anymore potential collapses within *??
MD
NZ - They are in all sorts of strife, but seeing as they are THE national carrier of NZ, I guess they won't go under...
UA - Common knowlegde that they are losing an absolute (note - must stop saying that word) fortune.
TG - Aren't they in a bit of strife as well?
What about the other airlines? Anymore potential collapses within *??
MD
Sep 15, 2001, 11:43 pm
#5
Join Date: Aug 2000
Location: CLE
Programs: UA 1K MM, Hilton Diamond
Posts: 929
UA's in real trouble, as mentioned elsewhere on this thread and on the UA board. This week's tragedy couldn't have come at a worse time.
I imagine that AC will also take a big hit due to the past week's events, especially since they depend on lucrative cross-border routes for much of their business.
I imagine that AC will also take a big hit due to the past week's events, especially since they depend on lucrative cross-border routes for much of their business.
Sep 19, 2001, 10:21 am
#6
FlyerTalk Evangelist
Join Date: Mar 2000
Location: Southern Alberta
Posts: 20,550
You are right about AC being financially hurt by the downturn in the airline industry. Like the US airlines asking for financial help from their governement, AC has asked the Canadian goverment for financial help. Check out the AC thread for more details and reactions.
Sep 22, 2001, 11:30 pm
#8
Join Date: Sep 1999
Location: New York
Posts: 3,383
NH - Cancelled 57 flights Sept. 11-15, resulting in a lost of 700-800 million yen in revenue. President Ohashi was quoted as saying revenue could be cut by 10 billion yen or more in fiscal 2001, through 31 March 2002. Aviation insurance premiums, estimated roughly 1 billion yen (20 cents per passenger) per year are likely to rise substantially. Insurers told NH (and other airlines) to expect premiums to rise 5-6-fold, due to war risk premiums. (Nihon Keizai Shimbun)
Sep 23, 2001, 5:56 am
#9
Join Date: Nov 2000
Location: H. Kong/Melb - CX/UA/TG/Hilton Elite
Posts: 245
Air NZ is a basket case, basically bankrupt now, and will likely be sold to Qantas soon, leaving NO Star carriers based in the Australasian region, and United may pull services too to the area.
http://afr.com/premium/ansettcrisis/...XIJGIVURC.html
http://afr.com/premium/ansettcrisis/...XIJGIVURC.html
Sep 23, 2001, 6:10 am
#10
Original Member
Join Date: May 1998
Location: CH-3823 Wengen Switzerland
Programs: miles&more, MileagePlus
Posts: 27,041
well - we (StarAlliance) will still have a choice of serveral carriers flying from/to Australia and Asia:
Lauda (only from Europe via Malasia)
Singapor
Thai
(not sure about ANA for Australia?)
Lauda (only from Europe via Malasia)
Singapor
Thai
(not sure about ANA for Australia?)
Sep 24, 2001, 1:29 pm
#11
Join Date: Feb 2001
Programs: IHG Diamond, HH Diamond, BW Diamond Select, Accor Silver, Marriott Gold
Posts: 4,228
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by Rudi:
(not sure about ANA for Australia?)</font>
(not sure about ANA for Australia?)</font>