Why Air Australia was bound to nosedive

With misguided business strategy, lack of funding and little to attract a potential buyer, Air Australia's reality never met the veneer it tried desperately to create.

It is not surprising 4000 of Air Australia's customers are now being told to make their own way home after it went broke in the early hours of this morning. The break point was the refusal of a jet fuel supplier to refuel an Air Australia flight from Phuket to Melbourne last night.

However, the story being told today – that KordaMentha was voluntarily appointed its administrator after an emergency board meeting in the early hours in Australia – is not the whole story.

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