It is just a shame they never went ahead with the plan to get their own jet. When they did the public float that was part of the prospectus.
Yes, it sure was (on both counts).
Refer page 13 of the prospectus:
Airlines PNG sees a big future for the airline industry in Papua New Guinea. In 2008, the airline is acquiring an additional four aircraft: two more Dash 8 aircraft, an additional Twin Otter and a fuel efficient Boeing 737 jet.
The airline is committed to growing its support of the mining and petroleum industries, it will launch new domestic RPT services and increase its international flying with the Boeing 737.