Word: jetstars
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...Vietnam's latest debacle involving two senior Australian executives may make investors think twice before getting into business with Vietnam. Tristan Freeman and Daniela Marsilli, the chief financial officer and chief operating officer of Qantas' Vietnamese operation, Jetstar Pacific, have been stranded in Vietnam since authorities prevented them from flying home to their families for Christmas. Earlier in 2009, Vietnam launched an investigation of the high-level executives after the airline, a Vietnamese and Australian partnership, reported a $31 million loss from bad bets on fuel futures, agreements on the future price of oil that committed Jetstar Pacific to paying...
...Alan Joyce, the smart, energetic CEO of Qantas' discount subsidiary Jetstar, who will take over as CEO from Dixon, who is retiring in November, recently suggested that simply cutting costs might not be enough to keep the company viable. Qantas, he said, might have to merge with another airline in the next few years. "With the high fuel prices we have, if that continues, a lot of airlines are not economic if they stand alone," Joyce told reporters. Qantas' "never crashed" reputation will hopefully survive, but there's no certainty its name will...
...another than to the major carriers. Thailand has no fewer than seven low-cost operators. In September, Singapore's A-Sonic Aerospace said it plans to start a budget carrier in China with a Chinese state company. Tiny Singapore will be home to three low-cost airlines: Valuair, Jetstar Asia (which boasts Australia's Qantas Airways as a large shareholder) and Tiger Airways (backed by Singapore Airlines). "We'll grow as quickly as we can and fly wherever we can," vows Stephen Johnson of Indigo Partners, an investment company based in Phoenix, Ariz., that owns 24% of Tiger...
...flying within Poland and to London's Stansted Airport. To the south, Wizz Air, a Hungarian carrier, starts service in Eastern Europe in May, with an average one-way fare of $60. Even farther south, Qantas, Australia's biggest airline, begins service linking more than a dozen cities on Jetstar, going head to head with Virgin Blue. In the U.S., veteran no-frills flyer Southwest Airlines will take on U.S. Airways in Philadelphia. Southwest will offer $198 round-trip fares to cities like Phoenix, Ariz., and Las Vegas; USAir vows to make it a nasty fight. --By Barbara Kiviat...
...terms of the deal, Marathon's management would be retained, and the company's headquarters would remain in Findlay (pop. 36,000), where they have been almost since Marathon was founded in 1887 by 14 local oilmen. Hoopman got a hero's welcome when his Lockheed JetStar touched down last week after the deal was concluded. Findlayites swarmed around him on the tarmac, shouting, "Hoop, Hoop, hurrah!" Said one Wall Street analyst: "People did not want big oil in their town...