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    Transport

    Today

    Qantas and Airbus have committed to investing $300 million to accelerate the establishment of a SAF industry in Australia.

    Budget gives $1.7b boost for green aviation fuel but still no mandate

    While the EU, Singapore and Japan have all signed on to sustainable fuel mandates, the Albanese government will study the idea for another two years.

    • Ayesha de Kretser
    Air Vanuatu’s single Boeing 737-800 has been out of action since March.

    Liquidators say a ‘clearly’ broke Air Vanuatu owes at least $99m

    The airline had “a significant level of debt”, and employed “a high number of staff for an operation of [its] size and nature”.

    • Updated
    • Ayesha de Kretser

    Yesterday

    Fiji Airways is closely watching Air Vanuatu to see what opportunities arise.

    Fiji Airways keen to keep Virgin Australia at bay

    The Pacific’s biggest airline would consider a tilt at Air Vanuatu if its liabilities are limited to keep Virgin sidelined.

    • Ayesha de Kretser

    This Month

    A VietJet Air jet at Denpasar, Bali. VietJet has been increasing its services to Australia.

    Bonza hopes fade as VietJet walks from deal talks

    The Vietnamese low-cost carrier confirmed it was out of the running as administrators prepare to ground the airline beyond their earlier midnight deadline.

    • Updated
    • Ayesha de Kretser
    Tesla and BYD were the top two EV brands for customers taking up a novated lease with FleetPartners.

    Tesla buyers using tax breaks bring spike in EV leasing

    FleetPartners shares have climbed 48 per cent in six months and the CEO said 63 per cent of its novated lease customers in March bought an EV, taking advantage of a $3000 tax break.

    • Simon Evans
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    Paul Dumbrell, who was CEO-elect of Atutobarn and Autopro owner Bapcor, but didn’t end up taking the job.

    McKinsey program leaves Bapcor in a hole

    Instead of delivering the $100 million in extra profits promised, the strategy overhaul has left the automotive giant in disarray and profits sliding.

    • Simon Evans
    777’s Josh Wander last year. The situations has dramatically worsened for the private equity group.

    PE firm behind Bonza, Melbourne Victory calls in insolvency experts

    The private equity firm called in advisers overnight to assist with “operational challenges”. It is a major shareholder in the A-League club and budget airline.

    • Ayesha de Kretser
    The Chanticleer podcast features James Thomson and Anthony Macdonald.

    Has Qantas really changed?; Perpetual’s fall from grace; AI’s big energy problem

    This week on the Chanticleer podcast, James and Anthony look at Qantas’ $120 million settlement, extract lessons from the demise of funds management giant Perpetual, reveal why everyone is talking about data centres and energy.

    A Bonza aircraft at Tullamarine Airport in Melbourne.

    Bonza in talks with six buyers despite owing $100m and losing planes

    Creditors of the collapsed budget airline were told that it owed more than $100 million to backers, customers and staff after going under late last month.

    • Ayesha de Kretser
    The Kinetic Group owns bus and rail transport across the world.

    Macquarie readies sale of $450m-a-year Kinetic; seeks 10x multiple

    Kinetic recently ruled off a $1.6 billion refinancing which Macquarie reckons puts it in a position to accelerate the decarbonisation of its fleet.

    • Sarah Thompson, Kanika Sood and Emma Rapaport
    Cairns removalist Jesse Bradley says the rising cost of diesel is biting his business.

    Transport costs up 10 per cent nationwide as petrol stokes inflation

    The rising cost of diesel in the past three years has put a dent in Jesse Bradley’s removalist business based in Queensland.

    • Gus McCubbing
    A Bonza aircraft at Tullamarine Airport in Melbourne.

    Citi’s Bonza links emerge in emails showing overdue invoices

    The Wall Street investment banking giant is a lender to AIP Capital, the aircraft lessor tied to the budget airline and its ailing private equity owner.

    • Ayesha de Kretser
    Bonza’s aircraft remain on the ground after they were seized by the airline’s lessors.

    Bonza’s backers plotted to ‘get the planes out’ and ‘wind this up’

    Leaked documents show the writing was on the wall for the budget carrier weeks before it collapsed, and suggest co-ordination between its financiers and owners.

    • Updated
    • Ayesha de Kretser
    Vanessa Hudson says Qantas failed to communicate.

    Vanessa Hudson’s ACCC settlement is six months too late

    Vanessa Hudson could have made settling the ACCC case a hallmark of her regime. Nine months after her elevation, it’s a little late for that.

    • Myriam Robin
    Chairwoman Gina Cass-Gottlieb initially said the consumer watchdog would seek a record penalty of over $250 million.

    Why didn’t ACCC litigate Qantas?

    Is what might be seen as regulatory brand ransom to force companies to admit to lesser charges and avoid the need to litigate, the way the watchdog should seek to uphold Australia’s consumer protection and competition law?

    • The AFR View
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    Gina Cass-Gottlieb and Vanessa Hudson.

    Qantas’ Hudson takes the chance to shed some Joyce baggage

    Vanessa Hudson has finally accepted reality by making a deal with the competition watchdog over ghost flights.

    • Jennifer Hewett
    Transurban’s CEO Michelle Jablko is six months into the top job.

    Transurban’s buying and building days not done yet

    Investors would have reacted much more strongly to any sort of distribution guidance. Instead, Transurban’s Michelle Jablko gave them the long road to value creation.

    • Anthony Macdonald
    Gina Cass-Gottlieb and Vanessa Hudson.

    Qantas pays $120m to settle ghost flights case

    Customers on cancelled flights will receive up to $450 in compensation after the airline admitted it misled travellers and agreed to pay $120 million to settle.

    • Updated
    • Ayesha de Kretser and Lucas Baird
    THL is behind brands including Britz, Maui and Apollo.

    THL in $200m wipeout as grey nomads stop buying campervans

    The operator of Britz and Maui brands said it was also expecting to impair its businesses overseas, and was surprised by how quickly sales had dried up.

    • Simon Evans
    Qantas CEO Vanessa Hudson has ticked off another milestone on her turnaround plan.

    Admitting Qantas’ ‘ghost flight’ misconduct is a win for Hudson

    Qantas CEO Vanessa Hudson has taken the pragmatic approach of fessing up to the ACCC and ending the so-called ‘ghost flights’ case. It’s another step in her rebuild.

    • James Thomson