Ozjet
Heavylift will no longer provide financial support to its subsidary Ozjet after ongoing losses, thus placing the Company in receivership. Ozjet hasn't really been make long term sustainable returns since Stoddard came up with that crazy idea to run a pure business class service up and down the eastern ports.
Norfolk Is business was OK, but ongoing maint costs keeping the 732 going kept on eating into the earnings on this part of the business.
Aka Ansett & AirNewZealand situation.
Heavylift is a great company with a fanatastic business model, it bought Ozjet really to gain the AOC.
As of Friday all Heeavylift suppliers & staff have been paid.
Heavylift will actually convert one of the 732 to a freighter, SAE have already have a proposal in for the job.