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Qantas Flight Refund

Discussion in 'Holidays & Travel' started by glenpinn, Apr 3, 2020.

  1. miicah

    miicah Member

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    Jetstar just sent me this:

    upload_2020-5-19_10-43-46.png

    So you can now use the vouchers on more than one flight.
     
  2. chainbolt

    chainbolt Member

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    Well, looks bad for me.

    Strong rumors now that Thai Air is going bankrupt. I think a lot of other airlines are in similar situation.

    Thai Airways quashes bankruptcy rumours



    Of course they deny it.
     
  3. wwwww

    wwwww Member

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    It will be bailed out.
     
  4. OP
    OP
    glenpinn

    glenpinn Member

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    Yeah that is what they all say at first, then the truth comes out eventually.

    I think the crap surrounding Virgin right now is appalling to be honest, i hope they are not forced to take a buyer from overseas, but i also don't want to see it owned by any state or federal government either.

    Keep your eyes on Rex, could something be happening for this mob somewhere on the horizon ?
     
  5. hawpinghaxbag

    hawpinghaxbag Member

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    I doubt it will happen, that would be too much loss of face
     
  6. jcorney

    jcorney Member

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    It's Brisbie bitch
    i'm going to regret this but in the words of pauline "please explain?" (the first bit about overseas buyers)
     
  7. chainbolt

    chainbolt Member

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    As you know, going into administration does not necessarily mean you disappear. A lot of companies do it only to get rid of their debt, and then remerge "re-structured".

    I am not waiting for 2 months for the refund.
     
  8. wwwww

    wwwww Member

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    https://www.aljazeera.com/ajimpact/...e-bankruptcy-proceedings-200519081232923.html

    Bankruptcy proceedings and another bailout.

    I got my refund from them pretty quick but I requested it back in Feb - I probably beat the masses.

    I do enjoy the whole, "no intention to file for bankruptcy", "yay we got approval for our bankruptcy plans" appear 1 day apart.
     
  9. OP
    OP
    glenpinn

    glenpinn Member

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    Meant to say another overseas buyer, in other words, i wish they would try to make it an all Australian owned airline.
     
  10. chainbolt

    chainbolt Member

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  11. hawpinghaxbag

    hawpinghaxbag Member

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    Maybe request a charge back on the credit card if you paid with that, even if it's outside the time limit they my help you out
     
  12. chainbolt

    chainbolt Member

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    Was paid more than 3 months ago. :(
     
  13. hawpinghaxbag

    hawpinghaxbag Member

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    https://www.bbc.com/news/business-52718464

    Looks like you'll be eventually getting your refund from the airline
    Back to card issuer refunds though, pretty sure the 90 day thing is waived with things like airline bankruptcies as alot of people purchase months in advance
     
  14. OP
    OP
    glenpinn

    glenpinn Member

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    How can Airlines have such massive debts yet still be able to operate, looks like Thai Airlines was bailed our or restructured, but then you look at Hertz car Rentals in USA, yesterday they filed for bankruptcy with billions in debt.

    I never understood how all this can happen, now even how they are allowed to do it.

    https://www.bbc.com/news/business-52780841
     
  15. wwwww

    wwwww Member

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    There are two things at play here:
    a.) First is too much cash isn't king. There is an optimal amount of cash businesses should have on hand. Too much and your ROE drops (because your equity is too high and you aren't earning much on the cash), too little and you rish cashflow issues (something unexpected can cause you to default). If you have cash, invest it, if there's nowhere profitable to invest it, pay it out as a dividend or buy back shares. While yes they should hold enough cash for something unexpected, an earnings drop from months of lockdown goes way beyond unexpected. This is a once-in-a-century event - you economically can't plan for this.
    b.) Second is about capital structure. Companies can raise money from equity or debt. Equity is from issued shares or retained profits. Debt is from borrowing activities. While in academia they'll teach about how corporations choose between debt and equity based on which ever is cheaper, this only applies when the decision makers know nothing else about the company. In practice, issuing equity is for when you expect a future loss and you want to share it with more people, debt is for when you expect a future profit and you want to keep as much of it for existing shareholders. This means when things are good for a long time, companies build up more and more debt so they end up loaded with debt. Central banks are supposed to regulate monetary policy to prevent this. They do this by increasing interest rates as it's only beneficial to borrow when your cost of debt capital is lower than your ROA. Unfortunately Powell didn't do this aggressively enough when things were good - probably because of this troll on twitter.

    Regarding Thai Airways, this is largely government-owned and serves an important role for the Kingdom. By operating cheaply, it keeps the country connected, keeps national freight costs low, and enables the country to use its geographic resources more effectively. It should be bailed out to maintain this as this is more beneficial to the country than the bailout costs, bankruptcy protection is just a more profitable way to reduce its liabilities.

    Australia can really learn from this. We have one of the lowest population densities in the world yet we suffer from a housing crisis - it takes an exceptional amount of public incompetence to achieve this. Cheap transport links can easily fix this but nobody wants to subsidise transport. (I realise there are political motivations to pushing up property prices so it's not incompetence but just democracy at work).
     
    Last edited: May 24, 2020
  16. Phalanx

    Phalanx Member

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    A bit over a month later...

    ACCC did nothing, St George refused to do a chargeback because "We can only conduct investigations on the validity of the banking transaction itself, and not the arrangement between you and the merchant." (so apparently because I agreed to the charge, I have no recourse? WTF?). Air New Zealand won't budge (I can't even get someone who understands what I'm asking for most of the time, so it takes 6 attempts at contact to get one reasonable person) and so I'm off to Victorian Consumer Affairs then VCAT by the looks of it.
     
  17. clonex

    clonex Member

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    it already is? brisbane city council busses/city cats are like 85% funded by the state
     
  18. wwwww

    wwwww Member

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    I was referring to air travel. Note the context.
     
  19. clonex

    clonex Member

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    you said public transport, didnt expect that to be subsidising business travel which corona has proved to be not always required :D
     
  20. wwwww

    wwwww Member

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    No I didn't? I think you inferred that from the previous sentence but that meaning wasn't intended. The same benefits do exist for localised public transport too but as you said it's already done. I honestly have no idea why air travel isn't subsided in Australia - we as a country probably stand to benefit from it more than any other country in the world because we're such a big country with so much underutilised land yet so many business opportunities aren't being done because land prices are too high. I suspect the issue is more political (e.g. maybe transport is decided on the state level while an air travel subsidy would need to be done on the national level), or maybe they're worried about the short-term banking impacts of devaluing property.
     

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