It can't fly to Perth,
It can't compeitite with others,
It can't make the "Only Business Class" idea works,
It is a short-life business.
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I think the problem is they over estimate the demand for business class passenger... On short-haul flights like MEL-SYD... I think business passengers wont mind flying with budjet airlines as timing for them in more important for this kind of short-haul flights than services...
I think if OzJet was operating long-haul business only services, there is the market... As business passengers would think twice between timing and services...