Business Services Industry
Tesna hits flyer point hurdle.
Australasian Business Intelligence, January, 2002
Jan 19, 2002 (The West Australian
ABIX via COMTEX) -- Ansett Australia's unsecured creditors will be lucky to receive $A0.05 in the dollar. This includes the 2.3 million Australians who together own a total of 67 billion Ansett Global Rewards frequent flyer points. A recent InfoChoice survey showed the market is divided between Ansett (with a 15 share), Virgin Blue (31) and Qantas Airways (54), but Ansett needs at least 25 to survive. Although Tesna Holding, which is to take over the failed Ansett, expects to make a loss of $A120m in its first year and no profit for at least two years, the success of Ansett will be largely dependent on the amount of support it gets from the Star Alliance. In Ansett's favour is the fact that three alliance members, Singapore...
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