In Reply to: Non of you guy's making statments posted by Bob Bali on Thursday, 27. April 2006 at 15:52 Bali Time:
I guess there are a few stories going around, but my understanding is that the reason it all went pear shaped was the sheer amount of cancellations following the October bombing.....the figure was around 8000....multiply that by the value of the tickets and taxes and you'll get an idea that it MAY have been hard to see this coming. Imagine everything going along well....then you suddenly are faced with millions of dollars of refunds. As I understood it Kadek was madly trying to get investors until the very last moment. It appeared that the investors were going to commit, then at the last moment backed out...and with the airline have so few forward booking ( their ONLY source of income ), combined with daily flight going up and back to Bali almost empty, any money that the company had was going to service the planes themselves and to pay for the fuel and flight crews, there was no immediate way to satisfy the refunds, nor to keep the planes in the air. It seems everyone is so keen to pile the blame on Kadek himself.....who I can guarantee you has lost more in this than anyone else.....shouldn't we all be blaming the terrorists.....or the media for hyping things up so much and putting everyone into such a state of panic that so many people cancelled ?.....after all....compare the coverage of the Bali bomb with the coverage of the recent bombings in Egypt. More people were killed in Egypt.....but the travel warning didn't even go up ?.....and how much do you hear about it now, after only a week ?