But it has been experiencing a crash crunch due to unexpected maintenance costs -
What unexpected costs other than invoices?
and a key Japanese private equity firm not proceeding with a planned investment -
investment is a key word!
JETGO appointed corporate advisers The Investment Collective to run the ruler over the business with a view to presenting a proposal to a group of new investors.
An interesting measurement of gaining investment.
JETGO managing director airlines Paul Bredereck tells your diarist that times are challenging but there is a plan to move forward. He says the company has cut its Brisbane-Tamworth route, saving about $70,000 a month, while there are now reduced services on other routes including to the Gold Coast.
Seems if all services are cut the most savings will be made.
JETGO, which operates a fleet of five Embraer regional airliners,
FACT CHECK required!
employs about 105 people and last year flew about 100,000 passengers.
employs 105 certainly not full time.
Bredereck says the carrier’s point-to-point service is popular with parents wanting to send their unattended children to visit their grandparents in regional centres because there is no need to change planes in Sydney and other major centres.
One hell of a mark plan sponsored by British paints!
JETGO also has been popular with regional folk wanting to attend medical appointments in Brisbane.
With stiff competition from the RFDS for free.
The carrier was founded in 2011 by Ryder and Aaron Mulder, both experienced pilots. City Beat spies tell us the carrier provides a pretty nice service at a reasonable cost so let’s hope the needed cash is forthcoming. Running an airline can be a brutal business.
Lets hope they do, but if not -
not leave others out of pocket - but that just a dream.