Origin SAVED

[splatgothebugs]

Surley I wasn't the only one to overhear this on the news tonight.

Its good to see that someone (Mike Pero & associates) have come to the rescue.

Anybody in the know got some more details because I didn't get the full story.

splat :ok:

[ZK-NSJ]

from what i caught off the news, mike pero is to become marketing manager, and is to pump 7 million odd dollars into origin, for those of u not in the know mike pero started a very sucessfull mortgage broking business,

[ZK-NSN]

Sounds like he is putting in "several million dollars" and taking up roles in sales and marketing and also scheduling. He sounds like he's pretty keen to get things going again and i beleive he is what the place needs.:ok:

[SixDemonBag]

I thought we were talking State of Origin....hehe we won (qld'ers).

[pantyripper]

I thought he was an ex Mt Cook F/O?

[C.Ka]

Is this the same Mike Pero that used to work for Mount Cook Airline flying Cheiftains out of Rotorua, then moved back to Christchurch on a yes letter and did not start flying with airline on the HS748s. Wonder why? Let the fun begin. Competition, that is good competition, is a wonderful thing. Hope they can get their proverbial all in one sock..

[Cloud Cutter]

Yeah, apparently he go 'bored' of flying and gave it up for mortgage broking - that makes sense?

He's obviously a pretty clewed up businessman though - I agree that it is just what origin needs, good luck to him:ok:

[yellow rocket]

He is also the same Mike Pero who created a company named "Pacific Express Airlines" in February this year.

Used to fly Freedom for all his domestic travel when the option was available, refused to go with NZ or QF.

[Wirraway]

www.stuff.co.nz

Investors bail out Origin Pacific
17 June 2004

Troubled regional airline Origin Pacific was handed a lifeline yesterday after a group of investors, including prominent Christchurch businessman Mike Pero, announced they had bought 50 per cent of the business.


Pero has bought 25 per cent of Origin Pacific, with a Wellington-based group of investors led by Dr Howard Clentworth buying another quarter.

Origin founder Robert Inglis and partner Nicki Smith retain the other 50 per cent.

"This business was ripe for the picking," Pero said yesterday.

"It has everything in place apart from the marketing. Our primary objective has been to give people confidence there is new money in the airline. We're going to strengthen the board and give more support to Robert, who has built a fantastic airline."

Last month creditors of the Nelson-based airline accepted a rescue plan which let Origin Pacific avoid liquidation or receivership; 93 staff were made redundant and main unsecured creditors agreed to receive 40 per cent of the $11.4 million owed to them. Creditors owed less than $10,000 were to be paid in full.

The first payment of 5c in the dollar was made on June 7, and the repayment scheme remained in place, Inglis said.

Origin Pacific had signalled when the rescue package was announced it would be seeking new investors and yesterday's announcement was a pleasing one, Inglis said.

"Mike (Pero) brings a prominent marketing record and communication skills which will be good for Origin Pacific," he said.

The Wellington investors were one of a number of groups which had gone through a due diligence process during the past month, Inglis said.

"I believe they will bring very good governance skills and experience from other institutions," he said.

Neither Inglis nor Pero would say how much money Pero or the Wellington investors had paid for their shares but Inglis said it was a very satisfactory deal from Origin Pacific's perspective.

"After the period of difficulty the airline has been through since the loss of the Qantas code-share work it's been clear there would be a need for new investment for the development of the airline."

Pero, a former airline pilot and operations manager, is best known for his mortgage broking company. He said his investment in Origin Pacific fulfilled a long-held ambition to get back into the airline industry. "The airline has a great future, having gone through a very thorough due diligence ... this announcement gives immediate security to about 300 people and their families."

Pero said he felt strongly that there was a place for a competitive, independent regional airline in New Zealand.

"I think it is obvious to most people that competition will help keep regional airfares down."

Pero said he would play "a leading role" in the development and marketing of the company. Immediately, Origin Pacific would review scheduling and customer care. A medium to long-term business plan would be framed in the next four to six weeks.

Origin Pacific will appoint a new board shortly. "The airline was structurally sound, and now it is financially sound," Pero said.

==========================================

[Eurocap]

Maybe they will be able to pay Vincent Aviation what they owe as they are not giving him any flying!!!

[ZK-NSN]

Cloudcutter - Yeah i bet he kicks himself everyday for getting out of aviation! (and he may soon be kicking himself for getting back into it!)Im sure the airconditioned comfort of his flash Hsv makes him fell a little better on his way to and from work, but at night he still goes home to one of his many house's and cries himself to sleep.

Eurocap - there is barely enough flying for the aircraft they own let alone getting in contractors aircraft. But if Pete and the boys stick close to the outfit then they could see a good return.

Mike sounds very passionate about the place and can see alot of potential, which i think a lot of the old investors/ managers have lost.

:ok:

[1279shp]

MEDIA STATEMENT

ORIGIN PACIFIC CONTINUES TO FLY WITH NEW INVESTORS

New investors and an injection of cash means that Nelson based airline Origin Pacific will continue to operate its regional airline network the company announced today.

Most prominent amongst the investors is businessman Mike Pero who returns to the skies of New Zealand, buying a significant shareholding in the airline. The former airline pilot and operations manager, who is more well known for his business successes in the Mortgage Broking industry, confirmed today that his shareholding in the company fulfils a long-held ambition to get back into the country’s airline industry.

Pero, along with a group of Wellington investors have injected extensive resources to provide a solid base for the airline’s continued growth. One that they hope will enable it to build on the positive impact Origin has already made to air travel in New Zealand.

“I see a bright future for the company, despite their recent problems,” said Pero today. “I guess I’m lucky that I have a good understanding of how the industry works. I believe Origin Pacific has a great operational set-up and I have been impressed by the professionalism of Robert Inglis and his team.

“Over the past 7 years Robert and the Origin team have built up quite a remarkable airline – it is home grown, it is servicing New Zealand from the cities to the provinces and providing valuable connections in both passengers & freight. As well as that Origin are an independent. This means they can deliver passengers around New Zealand or to and from the main airports for international connections.

“I feel strongly that there is a place for a competitive regional airline in New Zealand,” Pero continued. “I think it is obvious to most people that competition will help keep regional airfares down. We all know what happens when the skies fall back to a single player.”

Pero says his involvement with Origin Pacific will not be passive. He will play a leading role in the development and marketing of the company as it seeks to remain a competitive option for New Zealand travellers.

“It’s an exciting time, and our challenge is to continue to provide New Zealanders with a competitive schedule of routes around the country. We will be looking at launching some innovative products and services in the near future. Origin Pacific’s basic proposition, however, will remain straightforward – our forward focus will be on value, schedules and customer care.”

Origin Pacific founder Robert Inglis says the introduction of Mike Pero into the company provides a significant boost for the company.

“Mike is very dynamic and passionate about seeing Origin Pacific become a long term success in the airline industry,” Inglis said. “We believe that he is exactly the right person to come on board. His background in aviation and his success in business mean he has some valuable qualities he can bring to the business.

“The support we have had from our customers throughout New Zealand, our staff from the industry and from our backers has been incredible over the last few weeks. It is up to us now to repay that faith and continue to build Origin Pacific into the airline we know it can be.”

A new board will be appointed shortly. Inglis says that essentially it is business as normal, and the company is looking forward to an exciting future.

Ends

There\'s a beautiful pic on www.originpacific.co.nz too!

[feather stroker]

Good luck to Mike Pero in the sales and marketing position. Lets hope even with his investement in the airline he doesn't go the same way the last 6 sales and marketers have over the previous 4 years. Mind you he might do "mates rates" loans to help out all the staff on min wage!! :ok:

[Blue Line]

Origin Pacific to get Pero makeover
18 June 2004
By ROELAND VAN DEN BERGH

Origin Pacific's new investors will pump millions into the airline, giving it the full Mike Pero marketing treatment.


The troubled airline's entire image is up for review, down to the name.

Mr Pero has bought a 25 per cent stake in the Nelson-based regional carrier after selling his high-profile mortgage-broking firm for $13.5 million last month.

He has already engaged the marketing team that took Mike Pero Mortgages to success and will apply the branding model to Origin Pacific.

"Everything is under review and anything could happen," Mr Pero said.

He conceded that the airline's look was conservative and the name lacked punch.

Origin founder Robert Inglis, who would continue to run the airline, had intended to name it Freedom Air, but when he went to register it, found that Air New Zealand had beaten him to it by two days, Mr Pero said.

He decided to buy a quarter of Origin less than 24 hours after meeting Mr Inglis.

A group of Wellington investors, headed by senior Hutt Valley obstetrician Howard Clentworth, have bought another 25 per cent and the remaining 50 per cent is held by Mr Inglis.

Mr Pero would not say how much the new investors had paid.

"Suffice to say there is obviously millions going in over the next week. So there is plenty of resources there now and we are going to put it into marketing and branding."

The new money would not be used to simply clear debt, he said.

"I really believe that airline is structurally sound, it has got a purpose, it has a hell of a big following throughout New Zealand, with good load factors."

The aircraft colours, a hangover from previous owner British Airways, would get a facelift, with a more crisp and colourful look likely, Mr Pero said.

"I would like to see some brighter livery . . . it is very conservative. Something a bit more aggressive, without getting too bold.

"I would like to take the gold out and put red in there, myself."

It would take four to six weeks to develop the new strategy and image. with decisions on routes and pricing at the top of the list, he said.

A key plank of the strategy would be to standardise the fleet to all Jetstream 41 twin-turboprop aircraft, which would be more efficient.

Mr Pero said Origin would not tackle Air New Zealand head-on.

"You don't do things to piss them off. We are not going (to) start doing $39 flights (from) Auckland to Christchurch because we would come off second- best."

The final structure would to a large degree depend on the outcome of an appeal by Air New Zealand and Qantas to the High Court next month over its proposed alliance.

Even at its darkest hour when Origin put a rescue package to creditors owed $11.4 million and there were doubts that it would survive, passengers continued to book and fly, Mr Pero said.

Last month creditors accepted the rescue plan, under which main unsecured creditors agreed to receive 40 per cent of the money owed them, with creditors owed less than $10,000 being paid in full.

The first payment of five cents in the dollar was made on June 7.

Mr Pero said that if the airline was performing in the face of so much adversity and bad publicity, "imagine if you turned it around".

Origin Pacific was critical to maintaining competition to regional centres. "Imagine what would happen if we go back to a monopoly in the regions."

Mr Pero ran his own one-aircraft airline in the 1980s. He flew between Christchurch, Timaru and Alexandra linking with Ansett New Zealand.

Though he has nearly 2000 flying hours, he has no plans to be a pilot for Origin.

This year he registered a company called Pacific Express Airlines, though he said he never had any plans to start an airline.





If it does happen , the 31 & 32 boys & girls will be happy with an all 41 fleet :ok:

[ZK-NSN]

Doubt it blueline, those J31/2 are old Bobs little darlings and as long as he is still got a say they wont be going anywhere. I dont think any regional could make money in NZ running only 29+ seat aircraft (Eagle, Mt Cook and air nsn effectivly being one in the same) while keeping a reasonable service. The j31/32 fleet have served the company well and unfortunatly for you bluey, you'll still being doing the pax breif and dispatching the lollies in the 31/2.:sad:

[ROCKSTEADY]

How about naming it MyDream airlines....Having the website address www.flymydream.com

Its all yours if you want it....I think its very effective!!!!:p

[Eurocap]

Better still,

www.flymikesdream.com

:} :} :}

[stillalbatross]

Is this the same Mike Pero that used to work for Mount Cook Airline flying Cheiftains out of Rotorua, then moved back to Christchurch on a yes letter and did not start flying with airline on the HS748s. Wonder why?

If you wonder why people don't get start dates on yes letters then you are not familiar with the backwards, f**ked up world of Mount Cook recruiting. There are a fair few flying for Air NZ and Cathay that gave up waiting on their yes letter from Cook. It is common for Cook to interview and hand out half a dozen yes letters, have slots come up 6 month later and then interview again for the slots. No, it makes no sense and I have no idea why. Only in NZ I suppose.