Following the takeover of ANA, Reg Ansett lobbied the government to block TAA's purchase of Sud Aviation Caravelle jet aircraft.

Ansett was successful in convincing the government to authorise the importation of more Viscounts and the new Lockheed L-188 Electra, marketed as the "Golden Jet" as with other turboprop airliners of the day.

In keeping with the Two Airlines Policy, both TAA and Ansett started domestic jet services with the 727 on the same date (October 16), at the same time, on the same route (Sydney to Melbourne).

The Southern Cross livery first appeared on newly purchased long-range versions of the Boeing 727–200, capable of direct flights between Sydney and Perth.

The new Boeing 767s were also beset by mechanical and maintenance issues, leading them to be out of service during several key periods of heavy traffic and operating for the airline at a loss.

In addition to these heavy spending costs on fleet renewal, a number of substantial investments performed badly, including a share in the US America West Airlines (which filed for bankruptcy and survived) and its Hamilton Island resort (which went into receivership).

To further expand its international operations, Ansett Australia leased a pair of Boeing 747-300s from Singapore Airlines in August 1994 to inaugurate services to Osaka and Hong Kong.

In the late 1990s, Ansett paid millions of dollars for the right to be official airline of the Sydney 2000 Olympics, an investment generally regarded as unwise.

Ansett was thus unable to compete with the low-cost carriers and Qantas, which were able to run at a loss on some routes, as they could not maintain revenue while cutting their costs, which included laying off staff.

[12] Quickly running out of both lines of credit and options, Air New Zealand on 12 September 2001 placed the Ansett group of companies into voluntary administration with PriceWaterhouseCoopers.

Thousands of passengers were left stranded and more than 16,000 people found themselves out of a job, making this the largest mass job-loss event in Australian history.

[16] After receiving a federal government guarantee, Ansett resumed limited services between major cities on 1 October 2001, using only the Airbus A320 Skystar fleet.

After a month back in the air, the Golden Wing Club Lounges reopened, but like the scaled-back flying operation, provided no refreshments or other amenities apart from coffee and water.

Without any prior warning, the administrators announced on 27 February that Fox and Lew had withdrawn their bid, citing "[i]nability to complete the transaction on legal advice".

A creditors meeting post March 2002 voted in favour of an organised wind-up of the operation, under a deed of company arrangement, as opposed to an immediate liquidation.

Laid-off Ansett workers were eventually paid most of their entitlements, partly from an A$150 million compensation package offered by Air New Zealand in return for having the ASIC inquiry dropped, but mostly through asset sales and leasing revenue.

The disposal of the former fleet did not progress quickly, given the depressed aviation market and the subsequent lack of demand by other carriers around the world whose operations had been crippled by the 9/11 attacks only months before.

The Fokker 50, Saab 340, Twin Otter and Metro 23 regional aircraft were all back flying for Skywest, Kendell, Hazelton and Aeropelican in the weeks following the collapse.

Three of the airline's own DC-4s were delivered to the United Kingdom for conversion by Aviation Traders Limited, the company run by Sir Freddie Laker as managing director.

Ansett Australia's retrofitted two Boeing 747–400 series aircraft equipped with these recliner seats mostly served the Australia-Asia (Hong Kong and Osaka) international flights.

Reciprocal rights for certain Star Alliance membership tiers was offered, including earning frequent flyer points and a wide selection of lounge access.

Other Star member carriers like United Airlines benefited greatly by Ansett's membership, with seamless feeder connections from its trans-Pacific services.

Golden Wing Club Lounges were located throughout Australia in Melbourne, Sydney, Brisbane, Adelaide, Perth, Canberra, Cairns, Darwin, Gold Coast, Alice Springs, and Hamilton Island.

In the weeks that followed they were emptied of their expensive artwork and other items of value in subsequent auctions, leaving behind furniture and a variety of fittings, most of which was purchased by the various airport owners who bought the terminals back from Ansett's administrators.

Executive lounges were located throughout Australia (Melbourne, Sydney, Brisbane, Adelaide, Canberra, and Perth) and New Zealand (Auckland, Wellington, and Christchurch).

[30] Ansett offered a limousine service, for those wishing to hire for journeys to and from the airport to the CBD in Adelaide, Brisbane, Cairns, Melbourne, Perth and Sydney.

Since Qantas's Take over of Australian Airlines in 1992, Ansett acquired the rights to selective sponsorship of various teams involved in the Australian Touring Car Championship and Seven Networks commentary team between various airports close to racing venues around Australia from 1994 to Ten Network's takeover of V8 Supercar Series AVESCO (V8 Supercars Australia) launched the new series in 1997, but the insignia remained on various cars until Ansett folded in 2001.

Ansett Australia sponsored the soap opera Neighbours in the late 1980s, having previously received publicity when its aircraft were used in the filming of another production by Reg Grundy—1977's ABBA: The Movie.

The news service was then dubbed to video cassettes, and was then distributed onto Ansett aircraft first thing in the morning and exchanged halfway during the operational day for the second afternoon/evening broadcast.

[40] From 2008 Ansett Aviation Training continued growing to become the biggest Australian Training provider in the Asia Pacific Region, adding D level full flight simulators: First in its Melbourne hub, later opening new training centres in Milan, at Malpensa Airport (Italy) in 2017 with 4 new simulators: Earlier in 2018 in Taipei (Taiwan): And in the second half of 2018 inaugurating in Brisbane (Queensland) its 3 bay simulation new building on the vicinity of the Brisbane International Airport by the Minister for State Development, Manufacturing, Infrastructure and Planning Hon Cameron Dick MP, to accommodate a brand new ATR72-600 TRU simulator, adding in early 2019 a second Fokker 100 full flight simulator, acquiring full certification from CASA (Civil Aviation Safety Australia) to operate both of them :* ATR-600 With the demise of Ansett airline operations in 2002, the engineering services business, formerly known as the Ansett Australia Maintenance Base located at Melbourne Airport, was retained under the name of Ansett Aviation Engineering Services (AAES), primarily to care for the Ansett aircraft held in storage having mandatory ongoing maintenance, and also for other airlines supplying third party maintenance.