Airlines dump economic eggheads to lobby pollies

Original article by Jenny Wiggins
The Australian Financial Review – Page: 29 : 13-Sep-19

The Australian Competition & Consumer Commission has called for airlines to be able to seek access to arbitration in the event of disputes with airports. However, the Productivity Commission, which is reviewing airport regulation, rejected this idea in its draft report, which it released in February. Airline lobby group Airlines for Australia and New Zealand (A4ANZ) expects the Commission will maintain this view in its final report, which the federal government is due to release by 22 October. A4ANZ chair Graeme Samuel says it is ignoring the Commission, and will be calling on politicians to take action in line with the ACCC’s recommendations.

CORPORATES

Economic fears don’t stop Aussies flying out

Original article by Jenny Wiggins
The Australian Financial Review – Page: 18 : 16-Aug-19

Sydney Airport advised on 15 August that it had recorded a first half net profit of $17.3 million, down 90 per cent. Domestic passengers flying through Sydney fell by 1.5 per cent in the reporting period, but international travellers flying through Sydney rose by 1.9 per cent. Roy Morgan reported recently that 26.5 per cent of Australians had taken an overseas holiday in the past year, up from just 13.1 per cent in 2000-01, and Sydney Airport’s international traveller figures were helped by tens of thousands more Australians going overseas when compared to the previous corresponding period.

CORPORATES
SYDNEY AIRPORT – ASX SYD, ROY MORGAN LIMITED

Toll back to logistics losses as Japanese parent loses face

Original article by Jenny Wiggins
The Australian Financial Review – Page: 13 : 14-Aug-19

Logistics company Toll Holdings made a net loss of $113.8 million for the 12 months to March, according to its latest annual report. This compares to a profit of $11.2 million for the previous corresponding period, with Toll attributing the loss in part to increased transport, fuel and restructuring costs. Toll’s woes appear to have continued since then, with its parent Japan Post advising in the week ending 9 August that its international logistics unit – which includes Toll, Toll Express and JP Toll Logistics – made a net loss of $24 million for the three months to June. This compares to a loss of $8 million for the previous corresponding period.

CORPORATES
TOLL HOLDINGS LIMITED, JAPAN POST COMPANY LIMITED

Qantas tells airports it won’t pay

Original article by Robyn Ironside
The Australian – Page: 8 : 4-Sep-18

The Productivity Commission has been told by Northern Territory Airports that Qantas is refusing to pay increased charges at Darwin and Alice Springs airports. The Northern Territory Airports claims Qantas has refused to pay a three per cent increase at Alice Springs that was imposed in 2015, and a 2.5 per cent increase at Darwin that was introduced in July 2017. Asked to respond to the Northern Territory Airports’ comments, a Qantas spokesperson said it refused to pay the increases because NT airport charges were already too high.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, NORTHERN TERRITORY AIRPORTS PTY LTD, QANTAS AIRWAYS LIMITED – ASX QAN

Airport for the folks of western Sydney

Original article by Robyn Ironside
The Australian – Page: 19 : 2-Aug-18

Most of the people that will be using the Western Sydney Airport when it opens in 2026 will come from its immediate catchment area, so good accessibility is important. Western Sydney Leadership Dialogue chairman Christopher Brown told the annual Centre for Aviation annual conference on 1 August that Western Sydney was the only urban centre of its size in the world without an airport, and that there will be three million people living in the airport’s catchment area by the time it opens. Board of Airline Representatives of Australia executive director Barry Abram said a rail link to Western Sydney Airport would probably be its best transport option.

CORPORATES
WESTERN SYDNEY LEADERSHIP DIALOGUE BOARD OF AIRLINE REPRESENTATIVES OF AUSTRALIA INCORPORATED SYDNEY AIRPORT – ASX SYD WESTERN SYDNEY AIRPORT

Uber rival GoCatch plans ASX listing

Original article by Yolanda Redrup
The Australian Financial Review – Page: 23 : 13-Mar-18

Ride-sharing firm GoCatch is seeking to list on the Australian sharemarket in June, and hopes to raise up to $A5 million via an IPO. This is in addition to $A1 million in pre-IPO funds that it aims to raise by the end of March. Backers of GoCatch include fund manager David Paradice. Co-founder Andrew Campbell says GoCatch focuses on providing services to governments and corporations, while he notes that it hopes to break even by June.

CORPORATES
GOCATCH, TAXIMEDIA PTY LTD, UBER AUSTRALIA PTY LTD, CARADVICE.COM.AU PTY LTD, ROYALE LIMOUSINES, NEW SOUTH WALES HIRE CAR ASSOCIATION, SLINGSHOT LIMITED

Japan Post takes axe to Toll jobs

Original article by Damon Kitney
The Australian – Page: 17 & 26 : 27-Apr-17

Toll Holdings has shed about 300 jobs at its head office so far in 2017, and the transport and logistics group has revealed plans to axe an additional 1,700 positions over the next year. Toll’s Australian division, which employs about 25,000 people, is expected to bear the brunt of the job cuts. Toll will implement a restructuring program after parent company Japan Post flagged a $US3.6bn ($A4.8bn) writedown of the business and advised that 2017 EBIT is likely to be well below expectations. Japan Post paid $A6.5bn for Toll in 2015.

CORPORATES
TOLL HOLDINGS LIMITED, JAPAN POST COMPANY LIMITED, ASCIANO LIMITED, TELSTRA CORPORATION LIMITED – ASX TLS, LINFOX PTY LTD, KIRIN HOLDINGS COMPANY LIMITED, LION-DAIRY AND DRINKS PTY LTD

Low $A, ad push to spur tourist growth

Original article by Mark Ludlow
The Australian Financial Review – Page: 8 : 26-Aug-16

Deloitte Access Economics states in its tourism and hotel market outlook that the number of international visitors rose by 10 per cent in 2015. Meanwhile, visitor spending has increased by 17.9 per cent over the past five years. The firm forecasts an annual average growth of 6.2 per cent in international visitors over the next three years.

CORPORATES
DELOITTE ACCESS ECONOMICS PTY LTD, TOURISM AUSTRALIA PTY LTD

Brambles heads to UK as Gorman exits

Original article by Damon Kitney, Richard Gluyas
The Australian – Page: 21 & 25 : 19-Aug-16

Australian-listed logistics group Brambles has posted a 2015-16 net profit of $US588m ($A725m), which is one per cent higher than previously. Its statutory profit was six per cent lower at $US557.4m due to writedowns and impairment charges totalling $US78.1m, but revenue rose by two per cent to $US5.54bn. Meanwhile, British executive Graham Chipchase will succeed CEO Tom Gorman in early 2017, and Brambles will relocate its head office to London.

CORPORATES
BRAMBLES LIMITED – ASX BXB, FORD MOTOR COMPANY AUSTRALIA LIMITED, REXAM HOLDINGS PTY LTD, BALL CORPORATION

Asciano to delist after FIRB clears $9b takeover

Original article by Jenny Wiggins
The Australian Financial Review – Page: 21 : 28-Jul-16

The $A9.05 billion takeover of Asciano by a Qube Holdings-led consortium is expected to be approved by the Supreme Court of New South Wales on 28 July 2016. It has already received approval from the Australian Competition & Consumer Commission and the Foreign Investment Review Board. The deal involves Qube and Brookfield Infrastructure Partners taking over Asciano’s Patrick container ports, while five international pension funds will assume the ownership of the Pacific National rail freight business.

CORPORATES
ASCIANO LIMITED – ASX AIO, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, SUPREME COURT OF NEW SOUTH WALES, AUSTRALIAN CONTAINER FREIGHT SERVICES PTY LTD, DP WORLD AUSTRALIA PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, MONADELPHOUS GROUP LIMITED – ASX MND, MUHIBBAH ENGINEERING BHD, PACIFIC NATIONAL PTY LTD, PATRICK CORPORATION LIMITED