Origin rescuers want Inglis out
10 August 2006
By ROELAND VAN DEN BERGH
Origin Pacific founder and boss Robert Inglis must step down as a condition of a potential rescue plan, a market source says.
The Nelson-based airline is urgently trying to attract new investors to inject millions of dollars to keep it flying.
Origin was in talks with two interested parties. It is understood that at least one of the deals was conditional on Mr Inglis giving up control of the airline he started in 1997.
"An investor is going to want a high level of control to justify the investment," a source said.
An investment of $5 million would clear a substantial amount of the airline's debt.
Creditors would be keen for the airline to survive because it was their only chance of having any debt repaid, the source said.