The cost of buying something that is balance sheet and cash flow insolvent happens to be astronomical as well. Please get your facts straight before becoming condescending. The intent is apparently to sell it, but the claim that it is imminent is merely a rumour. I have it from a reliable source (their DFO) that they cannot guarantee paying salaries at the end of this month. Also, third party work for Jetworx is limited, the majority of their revenue stems from the maintenance performed for 1time, which is directly linked to the existence of the airline. So, no, I have a very good idea what is going on, like any person with a brain and functioning senses. Would you like to go do some homework before your next bold little claim?
PS. you cannot sell a section of a holdings company as a going concern if it isn't. Last time I checked current liabilities exceeded current assests, so the new owner would be liable to settle ALL outstanding debts as well as paying the purchase fee. Very, very expensive move for a very risky investment.
Last edited by Artrides; 4th Jun 2012 at 20:57.