The tale of what has happened to Glen Buckley, Gippsland Aeronautics, Polair and many others detailed in the Forsyth review, as well as the scandalous use by CASA of time limited exemptions, are enough to send any potential investor in Australian aviation running away as fast as possible, perhaps occasionally stopping long enough to vomit.
I don’t know if Cromarty is a fool or an idiot for not understanding that no investor, for business or pleasure, is going to place their capital at risk from the actions of a capricious regulator like CASA.
The demise of GA is a simple function of the risk and return available compared to competing investment choices. And the major risk to aviation in Australia is the regulator. I know of no other regulator in ANY sector of industry that actively tries to destroy its clients like CASA does, except perhaps for the tobacco industry. Even alcohol and gambling industries get better treatment.