percy prentice
6th Feb 2009, 15:00
Announcement by Aviation Ventures Limited (t/a Delta Aviation).
5th February 2009
The Directors of Aviation Ventures Limited (AVL) today made the following announcement:
“In recent weeks AVL has experienced very poor trading conditions with sales at 50% or less of prior levels. In addition, a potential major sponsor for the 2009 flying season advised us in the past few days that, due to their own financial difficulties, they were withdrawing from the sponsorship proposal.
"We have concluded that, in the current conditions, there is a high probability that AVL will be unable to conduct a full flying programme in 2009. Having taken advice, we have decided that with immediate effect the Company will cease to accept any new customer orders or payments at least until the position is clarified.
"We are in discussions with secured creditors and a small number of others with whose co-operation the current difficulty may be resolved. Nevertheless, there is a real possibility that AVL will cease trading and, in that event, there will be insufficient assets to satisfy both secured and unsecured creditors. This includes customers holding valid vouchers. We understand that if these were purchased using credit, or in some cases, debit cards, refunds may be available from the card issuer. We advise customers to make their own enquiries in this regard.
"A further announcement will be made as soon as possible".
Anybody know anything about this ?
5th February 2009
The Directors of Aviation Ventures Limited (AVL) today made the following announcement:
“In recent weeks AVL has experienced very poor trading conditions with sales at 50% or less of prior levels. In addition, a potential major sponsor for the 2009 flying season advised us in the past few days that, due to their own financial difficulties, they were withdrawing from the sponsorship proposal.
"We have concluded that, in the current conditions, there is a high probability that AVL will be unable to conduct a full flying programme in 2009. Having taken advice, we have decided that with immediate effect the Company will cease to accept any new customer orders or payments at least until the position is clarified.
"We are in discussions with secured creditors and a small number of others with whose co-operation the current difficulty may be resolved. Nevertheless, there is a real possibility that AVL will cease trading and, in that event, there will be insufficient assets to satisfy both secured and unsecured creditors. This includes customers holding valid vouchers. We understand that if these were purchased using credit, or in some cases, debit cards, refunds may be available from the card issuer. We advise customers to make their own enquiries in this regard.
"A further announcement will be made as soon as possible".
Anybody know anything about this ?