Flight West staff payouts could be bare minimum: administrator
The administrator of Flight West airlines says former staff may receive as little as 20 cents in the dollar of what they are owed.
Peter Gerros from Ferrier Hodgson says the value of the airline's major assets - its aircraft - has deteriorated rapidly since the September 11 terror attacks and collapse of Ansett.
"Now that is premised ... on a worst case scenario," he said.
"What we are attempting to do is to preserve the business as a going concern and to sell it as such, being mindful of the fact that PricewaterhouseCoopers similarly made an attempt to sell the business as a going concern.
"But given the current state of the industry I don't think our job's going to be particularly easy in that regard."