Transportation in Australia
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AUSTRALIA, 2014/01/11
Australian carrier Qantas said it was facing some of its toughest-ever challenges as Moody's downgraded its credit rating to junk, with the airline battling intense competition and spiralling costs.
Moody's cited "a sharp deterioration in the company's core domestic business" following the airline's shock profit warning and announcement of job cuts in December.
This had by presently prompted Standard and Poor's to assign it junk status.
Qantas is presently rated Ba2 by Moody's and BB+ by Standard and Poor's, meaning it is considered a "junk" product by professional investors.
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AUSTRALIA, 2013/12/16
Brindabella Airlines has been put into receivership and all flights by the airline are suspended indefinitely, as it struggles with millions of dollars in deficit.
The announcement came on Sunday afternoon, next the Canberra-based airline had said on Friday it would be temporarily suspending all flights and not taking reservations until further notice.
The airline’s 140 staff will find out their fate at 9am on Monday morning at Brindabella Airline’s offices, where their position will be discussed.
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AUSTRALIA, 2013/08/10
Tigerair Australia has vowed to offer ''sharp pricing'' of fares as it faces a tougher battle with Jetstar for budget-conscious travelers but emphasised that it will not boost flights just for the sake of increase.
Analysts have warned that an oversupply of flights over the next year will be greatest at the low-cost end of the air travel market as Tigerair embarks on plans to double its size by 2018. In response, Jetstar has promised to ''protect its position'' in the domestic market.
Tigerair Australia chief executive Rob Sharp said the airline is looking to expand again next a gradual return to services next its forced grounding in 2011. But the former Qantas executive made clear that the budget airline would not be sacrificing yield - or return on fares - just for the sake of filling seats.
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AUSTRALIA, 2013/04/03
Australia's competition regulator has given the airlines Qantas and Emirates final approval to form a five-year world alliance, while requiring that they continue to compete with each other on flights between Australian and New Zealand.
The Australian Competition and Consumer Commission as well said there would only be slight benefits to the public from the partnership. "The ACCC is satisfied that the alliance is likely to result in material, but not substantial, public benefits," the ACCC chairman Rod Sims said in a statement.
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AUSTRALIA, 2012/12/22
Australia's competition watchdog on Thursday gave its preliminary approval to a world alliance between struggling carrier Qantas and Dubai-based Emirates, but only for years initially.
The Australian Competition and Consumer Commission (ACCC) said the benefits, which will see the airlines coordinate ticket prices and flight schedules, would likely outweigh reduced competition on certain routes. A final decision will be made by March.
