is fly365.com actually owned by certain airlines ?

[odysseus]

maybe no margin. Airline loads outside of peak season are awful & long haul most airlines can't sub a smaller aircraft.

And if that's the predicament (which is debatable), how is a strategic investment in an ultra low margin retail venture with unrelated competitors a beneficial strategic response?

It isn't.

 

[albatross710]

For $9 can progress fairly easily from ASIC. I assume they are FLY365 PTY LTD. We don't yet know if their are corporate owners.

Company Summary

Name:	FLY365 PTY LTD
ACN:	606 601 521
ABN:	22 606 601 521(External Link)
Registration date:	23/06/2015
Next review date:	23/06/2020
Status:	Registered
Type:	Australian Proprietary Company, Limited By Shares
Locality of registered office:	NUNDAH QLD 4012

Then via LinkedIn LinkedIn Login, Sign in | LinkedIn

Maybe connect with these ones on LinkedIn

Mustafa Filizkok
Mustafa has a account
Co-founder and Managing Director at Fly365.com


Malcolm Howland
Malcolm has a account
Owner, Fly365
United Kingdom


By making lots of rationalisations looking at the people listed as employees, many seem to be UAE based.

@ozflyer you seem to be interested in them. do you have any other intel?

 

[ozfflyer]

And if that's the predicament (which is debatable), how is a strategic investment in an ultra low margin retail venture with unrelated competitors a beneficial strategic response?

It isn't.

no, think about it.

All airlines, with possible exception of U.S. domestic airlines, have trouble filling seats & it only gets worse.

By running an online agent, airlines can ensure that they offer the best deal.

 

[ozfflyer]

For $9 can progress fairly easily from ASIC. I assume they are FLY365 PTY LTD. We don't yet know if their are corporate owners.

Company Summary

Name:	FLY365 PTY LTD
ACN:	606 601 521
ABN:	22 606 601 521(External Link)
Registration date:	23/06/2015
Next review date:	23/06/2020
Status:	Registered
Type:	Australian Proprietary Company, Limited By Shares
Locality of registered office:	NUNDAH QLD 4012

Then via LinkedIn LinkedIn Login, Sign in | LinkedIn



Maybe connect with these ones on LinkedIn

Mustafa Filizkok
Mustafa has a account
Co-founder and Managing Director at Fly365.com


Malcolm Howland
Malcolm has a account
Owner, Fly365
United Kingdom


By making lots of rationalisations looking at the people listed as employees, many seem to be UAE based.

@ozflyer you seem to be interested in them. do you have any other intel?

Asic search doesn’t mean much.

There could be a shelf co. where all the orders come from, eg. through a law firm.

Directors might have no idea who the ultimate owners/financers are.

Eg. an airline who indirectly owns a % of fly365 might send a email to the law firm, directing either certain seats to be sold at a certain price, or a certain higher commission rate can be earned, with instructions to then discount down to nett rate.

If an ultimate owner wants to remain anonymous it’s very very easy to.

 

[moa999]

Liquidator appointed 21/2

https://insolvencynotices.asic.gov....06601521/e98214c6-4fca-4e81-a2b4-08762bc9fb17

 

[p--and--t]

Liquidator appointed 21/2

https://insolvencynotices.asic.gov....06601521/e98214c6-4fca-4e81-a2b4-08762bc9fb17

Suspect just another razor thin margin online trader that didn't survive like many before them.

Maybe the limited airlines they dealt with possibly just meant some airlines didn't trust them or the margins were even slimmer.

If you pick up a really good deal via an OTA in the full knowledge and accepting the risk that you might lose it and/or it may cost you a mint to change/alter the ticket, then go for it. Otherwise stick to the tried and true channels.

 

[dajop]

Well, of course fly365 was never going to survive 2020. It needed to be fly366 this year.

 

[moa999]

Would think covid-19 hasn't helped.
Likely a lot of cancellations and customers asking for refunds which has possibly caused a cashflow crunch

 

[ozfflyer]

Would think covid-19 hasn't helped.
Likely a lot of cancellations and customers asking for refunds which has possibly caused a cashflow crunch

Would have thought most of tickets they sold were non refundable

 

[MEL_Traveller]

Would have thought most of tickets they sold were non refundable

Many airlines are offering free cancellations due to the coronavirus, or alternatively, if they are cancelling flights outright due to capacity reductions, the fare will need to be refunded.

 

[Lemon_Party]

Fly365: online flight booking firm goes into administration, leaving travellers out of pocket

Sydney-based company with links to collapsed firm Bestjet wipes website, leaving customers unsure how to recoup their money

www.theguardian.com

Sounds like a link to bestjet too in this article.
Always a shame to see people losing out like this.

 

[ozfflyer]

if paid by credit card, at least you'll get your funds back if no tickets.

Shows how totally useless AFTA/ATAS accreditation is.

It should be fairly obvious by now, that best way to pay for any travel arrangements is by credit card. The few % extra seems like good insurance.

Some providers might not want to accept credit cards, as banks might hold into funds until departure date, so funds can't be used by provider as working capital. A sort of forced trust account.

Guess banks have been burnt by airline collapses.

 

[Pushka]

What seems to have happened to many is that tickets were issued then on Friday, when they went into liquidation, they cancelled many flights and didn’t give the funds to those who’d paid. My son and DIL only purchased tickets to UK through this mob two weeks ago. coughs.

 

[ozfflyer]

What seems to have happened to many is that tickets were issued then on Friday, when they went into liquidation, they cancelled many flights and didn’t give the funds to those who’d paid. My son and DIL only purchased tickets to UK through this mob two weeks ago. coughs.

I'd guess the airline cancelled the bookings, rather than fly365. If not paid by ticketing time limit airlines are often very quick to cancel automatically. Did they pay by credit card ?

 

[Pushka]

I'd guess the airline cancelled the bookings, rather than fly365. If not paid by ticketing time limit airlines are often very quick to cancel automatically. Did they pay by credit card ?

No. 365 cancelled them. Affected people (and there are many) contacted the airline and they said that the ticket had been cancelled and monies had been returned to 365.
The son paid by credit card. Phew.

 

[ozfflyer]

No. 365 cancelled them. Affected people (and there are many) contacted the airline and they said that the ticket had been cancelled and monies had been returned to 365.
The son paid by credit card. Phew.

you'd have to doubt the bank losing. I'd guess that the bank that paid the credit card amount less merchant fee has access to the account any refunds paid into.

 

[albatross710]

you'd have to doubt the bank losing. I'd guess that the bank that paid the credit card amount less merchant fee has access to the account any refunds paid into.

remember that the reason companies collapse is that they don't have cash, so there would not have been any money left in the accounts. Administrators would be fast to freeze things.

 

[ozfflyer]

remember that the reason companies collapse is that they don't have cash, so there would not have been any money left in the accounts. Administrators would be fast to freeze things.

yes but in the case of a new airline, banks hold funds from credit card payments, up to 100%, until flight is actually flown. Banks aren't stupid & this sort of thing happens all the time, ie. companies going belly up. Maybe there are some directors guarantees in place & the banks start selling their security ?

 

[MEL_Traveller]

yes but in the case of a new airline, banks hold funds from credit card payments, up to 100%, until flight is actually flown. Banks aren't stupid & this sort of thing happens all the time, ie. companies going belly up.

Do you have a link to this?

 

[ozfflyer]

remember that the reason companies collapse is that they don't have cash, so there would not have been any money left in the accounts. Administrators would be fast to freeze things.

they could have many bank accounts in different countries. Administrators might not even find them all. Plus not sure if fly365 accepted paypal, but very easy to send money anywhere in the world.