Latest news with #Bonza
Courier-Mail
5 days ago
- Business
- Courier-Mail
Grand character home boasts a ‘five-star resort' glow up
An immaculately renovated art deco home is at the centre of a rare real estate opportunity to purchase two adjoining properties and create an exclusive private estate in sought after Clayfield. For sale by expression of interest, the properties comprise a stunning, three-level residence on a 1259sq m block at 88 Oriel Dr, along with the neighbouring 715sq m lot at 1 Stafford St. Currently the site of a three-bedroom post-war home, the Stafford St lot has development approval for a tennis court and eight-car basement. Owners Greg and Tamra Josephson purchased the Oriel Rd residence back in 2017 after being drawn to its position and potential. 'We were looking for a big family home and this was in very original condition,' Mr Josephson said. 'It was perched on a peak with vistas to the Gateway Bridge and mountains, and the house had character, a solid structure, and was on a big block.' MORE: Motocross mansion named Australia's hottest property Why luxury home dream could be out of reach for millions Bonza bargain: Entire Aussie camp with water park for sale Over a series of stages, the Josephsons transformed the period property into a stately six- bedroom home that rivals a five-star resort. Initially they built in beneath the residence, adding a rumpus area, guest bedroom and office. Attention then turned to cosmetic upgrades of the original house before a major renovation in 2022 that tapped into the talents of architect Ivan Gastaldon and interior design experts Highgate House. 'The brief was to give it a five-star hotel feel,' Mr Josephson said. 'And with a bit of a minor tweak they also came up with the idea of a parents retreat.' Spanning three luxurious levels, the property now boasts six bedrooms, six bathrooms, multiple formal and informal living spaces, an open plan kitchen and dining area, alfresco terraces and a pavilion. Inside, luxury finishes include parquetry French oak flooring, hand-painted wallpaper, Ralph Lauren lighting, Wyer + Craw cabinetry, and imported marble, set against immaculately restored period elements, such as coffered ceilings, and leadlight and sash windows. The interior effortlessly connects to the exterior where covered patios and elegant porches lead to manicured gardens, grassed terraces, and a magnesium pool with spa. The property has served as the Josephson's family home, offering ample space for everyone to retreat to and enjoy together. 'Our three children are all teens and each has their own big bedroom,' Mr Josephson said. 'We love the fact it's six bedroom and there's just so much space, with all these breakout areas that you can enjoy. 'My wife and I can go and sit by our fireplace in the parents retreat and the kids can head to the casual downstairs area on the ground floor.' The acquisition of the block next door was part of the Josephson's long-term vision for the property. 'We planned to integrate a driveway off Oriel Rd and create a huge garage with a tennis court above it,' Mr Josephson said. 'There was going to be a lift from the garage to a garden atrium above and from there you could walk into the house.' Alternatively, he said the new owners could retain the existing property on the Stafford St lot and enjoy rental income or utilise it for extended family. 'That next stage is for someone else to do,' Mr Josephson said. 'We're sad to sell but we're relocating to Noosa where we have a house and business interests. 'But we're proud that we went all out to create a once in a lifetime forever home, and that's what's on offer for someone now.' The property is listed with Matt Lancashire of Ray White New Farm.
Perth Now
20-05-2025
- Business
- Perth Now
Qantas and Jetstar cash in on lack of airline competition
Australia's sole budget carrier has cashed in on the lack of competition in the nation's aviation sector. Within the Qantas Group's whopping $1.5 billion earnings before tax in the first half of 2024-25, Jetstar jacked up prices to record an operating margin of 18 per cent. That is up from 13 per cent in the first half of the 2023-24 financial year, the increase coinciding with fellow budget airline Bonza's collapse in April 2024. It helped delivered a massive earnings increase for the Qantas Group, with Jetstar domestic flight revenue jumping 54 per cent in that same time frame. The findings come from the Australian Competition and Consumer Commission's quarterly look at domestic airline competition, which found both Qantas and Virgin Australia had recorded impressive financial results in the back half of 2024. Virgin has not publicly reported its half-year results, although chief executive Jayne Hrdlicka said in February it had achieved record profits. ACCC commissioner Anna Brakey said Jetstar's earnings jump was largely explained by Bonza's demise. Compared with an 18 per cent operating margin on domestic flights, Jetstar's international flights were at 15 per cent due to the increased competition, the report said. 'The high half-yearly earnings reported by Qantas Group reflect its dominance of the domestic airline sector, with Qantas and Jetstar accounting for over 60 per cent of passengers,' Brakey said. 'Jetstar has been able to capitalise on the continued absence of competitive pressure from another low-cost carrier in the domestic market to increase its market share and operating margin.' The report found airlines had improved their punctuality in the past six months from 74.5 per cent to 80.2 per cent. But that still sits below the industry's long-term average of 80.7 per cent. 'It is encouraging to see the on-time arrival rate improving as this means travellers can have more confidence that their flight will arrive at the time they booked,' Brakey said. The cancellation rate spiked in the March quarter to five per cent — way above the long-term mark of 2.2 per cent — but that period included ex-Tropical Cyclone Alfred. The average airfare increased by 9.6 per cent between the three months to January 2025 and March 2025, but the ACCC did not find that result to be too alarming. 'The trends observed in average airfares since January reflect seasonal factors and are broadly consistent with those observed in previous years,' Brakey said. 'Average airfares have come down from their peak in October 2024.'
7NEWS
20-05-2025
- Business
- 7NEWS
Qantas and Jetstar cash in on lack of airline competition with $1.5 billion in earnings and major profits
Australia's sole budget carrier has cashed in on the lack of competition in the nation's aviation sector. Within the Qantas Group's whopping $1.5 billion earnings before tax in the first half of 2024-25, Jetstar jacked up prices to record an operating margin of 18 per cent. That is up from 13 per cent in the first half of the 2023-24 financial year, the increase coinciding with fellow budget airline Bonza's collapse in April 2024. It helped delivered a massive earnings increase for the Qantas Group, with Jetstar domestic flight revenue jumping 54 per cent in that same time frame. The findings come from the Australian Competition and Consumer Commission's quarterly look at domestic airline competition, which found both Qantas and Virgin Australia had recorded impressive financial results in the back half of 2024. Virgin has not publicly reported its half-year results, although chief executive Jayne Hrdlicka said in February it had achieved record profits. ACCC commissioner Anna Brakey said Jetstar's earnings jump was largely explained by Bonza's demise. Compared with an 18 per cent operating margin on domestic flights, Jetstar's international flights were at 15 per cent due to the increased competition, the report said. 'The high half-yearly earnings reported by Qantas Group reflect its dominance of the domestic airline sector, with Qantas and Jetstar accounting for over 60 per cent of passengers,' Brakey said. 'Jetstar has been able to capitalise on the continued absence of competitive pressure from another low-cost carrier in the domestic market to increase its market share and operating margin.' The report found airlines had improved their punctuality in the past six months from 74.5 per cent to 80.2 per cent. But that still sits below the industry's long-term average of 80.7 per cent. 'It is encouraging to see the on-time arrival rate improving as this means travellers can have more confidence that their flight will arrive at the time they booked,' Brakey said. The cancellation rate spiked in the March quarter to five per cent — way above the long-term mark of 2.2 per cent — but that period included ex-Tropical Cyclone Alfred. The average airfare increased by 9.6 per cent between the three months to January 2025 and March 2025, but the ACCC did not find that result to be too alarming. 'The trends observed in average airfares since January reflect seasonal factors and are broadly consistent with those observed in previous years,' Brakey said. 'Average airfares have come down from their peak in October 2024.'
West Australian
20-05-2025
- Business
- West Australian
Qantas, Jetstar cash in on lack of airline competition
Australia's sole budget carrier has cashed in on the lack of competition in the nation's aviation sector. Within the Qantas Group's whopping $1.5 billion earnings before tax in the first half of 2024-25, Jetstar jacked up prices to record an operating margin of 18 per cent. That is up from 13 per cent in the first half of the 2023-24 financial year, the increase coinciding with fellow budget airline Bonza's collapse in April 2024. It helped delivered a massive earnings increase for the Qantas Group, with Jetstar domestic flight revenue jumping 54 per cent in that same time frame. The findings come from the Australian Competition and Consumer Commission's quarterly look at domestic airline competition, which found both Qantas and Virgin Australia had recorded impressive financial results in the back half of 2024. Virgin has not publicly reported its half-year results, although chief executive Jayne Hrdlicka said in February it had achieved record profits. ACCC commissioner Anna Brakey said Jetstar's earnings jump was largely explained by Bonza's demise. Compared with an 18 per cent operating margin on domestic flights, Jetstar's international flights were at 15 per cent due to the increased competition, the report said. "The high half-yearly earnings reported by Qantas Group reflect its dominance of the domestic airline sector, with Qantas and Jetstar accounting for over 60 per cent of passengers," Ms Brakey said. "Jetstar has been able to capitalise on the continued absence of competitive pressure from another low-cost carrier in the domestic market to increase its market share and operating margin." The report found airlines had improved their punctuality in the past six months from 74.5 per cent to 80.2 per cent. But that still sits below the industry's long-term average of 80.7 per cent. "It is encouraging to see the on-time arrival rate improving as this means travellers can have more confidence that their flight will arrive at the time they booked," Ms Brakey said. The cancellation rate spiked in the March quarter to five per cent - way above the long-term mark of 2.2 per cent- but that period included ex-Tropical Cyclone Alfred. The average airfare increased by 9.6 per cent between the three months to January 2025 and March 2025, but the ACCC did not find that result to be too alarming. "The trends observed in average airfares since January reflect seasonal factors and are broadly consistent with those observed in previous years," Ms Brakey said. "Average airfares have come down from their peak in October 2024."
Perth Now
20-05-2025
- Business
- Perth Now
Qantas, Jetstar cash in on lack of airline competition
Australia's sole budget carrier has cashed in on the lack of competition in the nation's aviation sector. Within the Qantas Group's whopping $1.5 billion earnings before tax in the first half of 2024-25, Jetstar jacked up prices to record an operating margin of 18 per cent. That is up from 13 per cent in the first half of the 2023-24 financial year, the increase coinciding with fellow budget airline Bonza's collapse in April 2024. It helped delivered a massive earnings increase for the Qantas Group, with Jetstar domestic flight revenue jumping 54 per cent in that same time frame. The findings come from the Australian Competition and Consumer Commission's quarterly look at domestic airline competition, which found both Qantas and Virgin Australia had recorded impressive financial results in the back half of 2024. Virgin has not publicly reported its half-year results, although chief executive Jayne Hrdlicka said in February it had achieved record profits. ACCC commissioner Anna Brakey said Jetstar's earnings jump was largely explained by Bonza's demise. Compared with an 18 per cent operating margin on domestic flights, Jetstar's international flights were at 15 per cent due to the increased competition, the report said. "The high half-yearly earnings reported by Qantas Group reflect its dominance of the domestic airline sector, with Qantas and Jetstar accounting for over 60 per cent of passengers," Ms Brakey said. "Jetstar has been able to capitalise on the continued absence of competitive pressure from another low-cost carrier in the domestic market to increase its market share and operating margin." The report found airlines had improved their punctuality in the past six months from 74.5 per cent to 80.2 per cent. But that still sits below the industry's long-term average of 80.7 per cent. "It is encouraging to see the on-time arrival rate improving as this means travellers can have more confidence that their flight will arrive at the time they booked," Ms Brakey said. The cancellation rate spiked in the March quarter to five per cent - way above the long-term mark of 2.2 per cent- but that period included ex-Tropical Cyclone Alfred. The average airfare increased by 9.6 per cent between the three months to January 2025 and March 2025, but the ACCC did not find that result to be too alarming. "The trends observed in average airfares since January reflect seasonal factors and are broadly consistent with those observed in previous years," Ms Brakey said. "Average airfares have come down from their peak in October 2024."
