Maccair - What's Happening?
According to their 1 March press release Maccair stated that “Maccair will add a high speed propjet Saab 2000 50 seat airliner” as part of its renewed contract with BHP Biliton (Cannington). Their 5 April press release, stated that this aircraft would be introduced “later in the year”.
However their 14 July press release refers only to the fact that Maccair “is looking to increase their fleet of state of the art Saab aircraft” “as part of their contract negotiations with BHP Biliton.”
I guess that any prospective investor, wishing to participate in the “exciting investment opportunity in the future of Queensland’s aviation industry” (refer 14 July press release where Maccair also state that “potential investors can expect an interest rate of up to 12.75%”) would like to know:
(a) Will Maccair be obtaining the Saab 2000?
(b) If not, do any issues arise in respect of the Cannington contract given that the value of the contract is expected to exceed $20M over 5 years (refer Maccair 1 March press release). If so, how have these issues been addressed by Maccair?
I’d expect that matters of this sort would be addressed in the information that Maccair provides to prospective investors. Has anybody obtained a copy? I’d be interested in having a read.