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Tasmanian Air Adventures Grounded


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A beautiful sight & sound around Hobart & the river Derwent

 

Hopefully the issues can be resolved & the company will start flying again.

 

Fly Safe

 

RW:rotary:

 

http://www.abc.net.au/news/2015-04-30/seaplane-business-grounded-as-tasmanian-air-adventures-collapses/6433998?section=tas

 

Tasmanian Air Adventures, which runs the seaplane operation out of the Hobart waterfront, has been placed in liquidation.

 

The seaplane had become a fixture of the city, offering scenic flights and charter tours using the River Derwent as its airstrip.

 

The YKYMF Group Pty Ltd, which trades as Tasmanian Air Adventures, announced today the company was in creditors' voluntary liquidation.

 

The company's employees were advised of the situation and all flights have ceased.

 

State Opposition leader Bryan Green said the news was disappointing.

 

"It comes as a shock to me because I imagined that business was going really well and he's a young entrepreneur and I feel for him, I hope there's a way he can trade his way out," Mr Green said.

 

The company's licence was extended last year to access Tasmania's remote wilderness as part of the State Government's low-impact tourism plans.

 

Last year the company invested in a second seaplane to meet demandafter it picked up the people's choice award at the state tourism awards.

 

In March, the seaplane was forced to make an emergency landing after the engine cover flung loose.

 

A meeting of creditors has been scheduled for May 11.

 

 

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That's a damn shame. I liked seeing the old Beaver cruising around. I agree with Bryan Green, I imagined the business was doing ok too. Good location, lots of tourist business and high profile, also coming at the end of the peak season. Wonder what went wrong.

 

 

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That's a damn shame. I liked seeing the old Beaver cruising around. I agree with Bryan Green, I imagined the business was doing ok too. Good location, lots of tourist business and high profile, also coming at the end of the peak season. Wonder what went wrong.

Sadly there is far more to running any business than having nice gear and lots of customers. By far the biggest threat to small business that I see is owners not knowing their actual costs. Not saying that was the case hear, but looking like you are doing well, and doing well are not the same thing.

 

 

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What Geoff said along with Banks are a killer, corporate now and only see the numbers.

 

Sounds like they over committed, falling behind and with low season coming, pulled the pin before it gets to "losing everything" status.

 

Strange they are reported not to have approached the Gov for help. Maybe they could name the planes "Andrew and Myuran" and get a rush of donations.

 

 

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Real shame. We went for a flight in the Beaver during the wooden boat festival and enjoyed it immensely but I noted at the time that his pricing was about 30% lower than the Strahan operation and I reckon the big round engines would be more maintenance intensive than the Lycos on Strahan's Cessnas.

 

 

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What Geoff said along with Banks are a killer, corporate now and only see the numbers.Sounds like they over committed, falling behind and with low season coming, pulled the pin before it gets to "losing everything" status.

 

Strange they are reported not to have approached the Gov for help. Maybe they could name the planes "Andrew and Myuran" and get a rush of donations.

Banks are not a problem if you know your costs and price accordingly.

You cannot compete on an unsustainable price structure. It is a recipe for failure, no matter where the money is coming from.

 

 

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Banks are not a problem if you know your costs and price accordingly.

Sure, but Banks are a problem in that you can often get money too easy and the temptation can make many ignore the reality of what's to come.

 

Truly sensible people, that you are referring to, are limited in numbers, just check out the average personal debt for validation.

 

 

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Ya missed it... As thAt man above Said...the start up costs were high and they never recovered those costs. Casa over regulation strikes again.

 

I d love to do scenic work with my machine...the customers are there. They are prepared to pay..to a point. The startup costs from casa are horrendous.

 

 

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Ya missed it... As thAt man above Said...the start up costs were high and they never recovered those costs. Casa over regulation strikes again. I d love to do scenic work with my machine...the customers are there. They are prepared to pay..to a point. The startup costs from casa are horrendous.

I don't think I missed it at all. I said you must know your costs and price accordingly. If the market will not meet those prices then that should have shown up in the market analysis before a cent was outlaid on the actual business. Start up costs and replacement of equipment costs must be factored into the operating costs. Simple really, operating costs are all the costs associated with the business. Like in my business Government fees take up about 30% of our costs. They need to be factored in. Now if they didn't factor in CASA costs in the cost analysis than the business was destined to fail. As I said I know nothing about these business in particular, I am generalising. It is however a fact that a major portion of small businesses fail in the first 12 months. There is a very good reason for that.

 

 

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It is however a fact that a major portion of small businesses fail in the first 12 months. There is a very good reason for that.

Just as bad is that 95% of businesses who get past the first year never make more than costs and wages.

 

 

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What Geoff said along with Banks are a killer, corporate now and only see the numbers.Sounds like they over committed, falling behind and with low season coming, pulled the pin before it gets to "losing everything" status.

 

Strange they are reported not to have approached the Gov for help. Maybe they could name the planes "Andrew and Myuran" and get a rush of donations.

More likely pulled the pin not before losing everything but before they started trading in an insolvent position ... and left the director open to personal liability ie personal assets at risk eg the family home.

The protective wrapper of a corporation is only a protection when you play within the rules of the company...

 

 

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