indigo duck
21st Feb 2007, 20:59
Nelson Iwi to launch Domestic Commuter Service.
Noticed this little gem in the financial paper "The Independent". Don't know if it is a wind up, but have a look at the names of the people involved - One is the ex-owner of a previous failed budget airline who used Banderantes and the other is a failed business owner, both wanting to model the new airline on the same structure as the failed airline "Origin Pacific".
Have a read of the article and tell me how these people are able to sleep straight in bed?? (metaphorically speaking of course).
Maori to launch airline
Nelson iwi about to launch domestic commuter service
DENISE MCNABB
NELSON iwi Ngati Koata is believed close to announcing a new domestic commuter airline out of Nelson, possibly in partnership with another iwi or a corporate.
Caron Paul, chief executive of Ngati Koata Trust, is understood to be the driving force behind the venture, after turning around the trust from near insolvency in little more than a year.
But yesterday she would say only: “At the moment I am not in a position to discuss this.
“There is actually confidentiality around things so there is nothing I can say.”
Given speculation among industry players in the aircraft ownership and leasing business, it is understood the structure of the new airline would most likely be similar to its failed predecessor, Origin Pacific Airways.
This would be three to five aircraft, most likely 29-seat Jetstream 41s.
Two are still in Wellington and up for lease.
Origin Pacific, run by Robert Inglis, was placed in receivership in September, owing $21 million after a chequered history that saw Inglis go head-to-head with Air New Zealand through the Commerce Commission over claims - it was using its dominance to force his airline off routes.
The Ngati Koata consortium is not believed to be connected to Nelson man Lamar Hargreaves, who reserved the name Kiwi Pacific Airlines at the Companies Office last November. He incorporated the company on January 30 with 100,000 shares in his name and with himself as sole director.
Paul Webb, a director of Honk Aviation, owner of the Nelson Airport Trent Drive terminal, declined to reveal details about the new airline owners but confirmed he had been dealing with a party and a heads of agreement was in place.
Caron Paul was known by her single name Caron Taurima before marrying Ngati Koata trust board member Dion Paul in November.
She has won many business awards, including Maori Business Woman of the Year and in 2003 Ernst and Young Entrepreneur of the Year for the creation of Carich, a business that started in 1991 offering computer courses to Maori students.
The award came just weeks before a Ministry of Education grant when it transpired full-time student numbers were lower than had been accounted for.
Carich had cashflow problems repaying the debt. When Taurima discovered there were more students that had not been accounted for, she tried to resubmit its student data return.
But by then the company could not meet its wage bills and was placed in receivership.
The final shortfall to unsecured creditors was $5.78 million.
Paul, who is 40 this year, was subsequently headhunted by Ngati Koata in Nelson to be its chief executive.
Since she took the helm at the trust $5 million has been written off the books, due largely to old and inefficient fishing boats.
She has sold most of the trust's assets over 18 months to pay off debt and has spear headed new ventures such as Koata Krafts, which produces a streamlined version of traditional feather cloaks at affordable prices.
Last month the trust announced plans to make and sell biodiesel produced from vegetable oils and animal fat to sell to local motorists, the fishing industry and manufacturers.
Talley's Fisheries had preliminary talks with the trust about the biodiesel fuel.
Noticed this little gem in the financial paper "The Independent". Don't know if it is a wind up, but have a look at the names of the people involved - One is the ex-owner of a previous failed budget airline who used Banderantes and the other is a failed business owner, both wanting to model the new airline on the same structure as the failed airline "Origin Pacific".
Have a read of the article and tell me how these people are able to sleep straight in bed?? (metaphorically speaking of course).
Maori to launch airline
Nelson iwi about to launch domestic commuter service
DENISE MCNABB
NELSON iwi Ngati Koata is believed close to announcing a new domestic commuter airline out of Nelson, possibly in partnership with another iwi or a corporate.
Caron Paul, chief executive of Ngati Koata Trust, is understood to be the driving force behind the venture, after turning around the trust from near insolvency in little more than a year.
But yesterday she would say only: “At the moment I am not in a position to discuss this.
“There is actually confidentiality around things so there is nothing I can say.”
Given speculation among industry players in the aircraft ownership and leasing business, it is understood the structure of the new airline would most likely be similar to its failed predecessor, Origin Pacific Airways.
This would be three to five aircraft, most likely 29-seat Jetstream 41s.
Two are still in Wellington and up for lease.
Origin Pacific, run by Robert Inglis, was placed in receivership in September, owing $21 million after a chequered history that saw Inglis go head-to-head with Air New Zealand through the Commerce Commission over claims - it was using its dominance to force his airline off routes.
The Ngati Koata consortium is not believed to be connected to Nelson man Lamar Hargreaves, who reserved the name Kiwi Pacific Airlines at the Companies Office last November. He incorporated the company on January 30 with 100,000 shares in his name and with himself as sole director.
Paul Webb, a director of Honk Aviation, owner of the Nelson Airport Trent Drive terminal, declined to reveal details about the new airline owners but confirmed he had been dealing with a party and a heads of agreement was in place.
Caron Paul was known by her single name Caron Taurima before marrying Ngati Koata trust board member Dion Paul in November.
She has won many business awards, including Maori Business Woman of the Year and in 2003 Ernst and Young Entrepreneur of the Year for the creation of Carich, a business that started in 1991 offering computer courses to Maori students.
The award came just weeks before a Ministry of Education grant when it transpired full-time student numbers were lower than had been accounted for.
Carich had cashflow problems repaying the debt. When Taurima discovered there were more students that had not been accounted for, she tried to resubmit its student data return.
But by then the company could not meet its wage bills and was placed in receivership.
The final shortfall to unsecured creditors was $5.78 million.
Paul, who is 40 this year, was subsequently headhunted by Ngati Koata in Nelson to be its chief executive.
Since she took the helm at the trust $5 million has been written off the books, due largely to old and inefficient fishing boats.
She has sold most of the trust's assets over 18 months to pay off debt and has spear headed new ventures such as Koata Krafts, which produces a streamlined version of traditional feather cloaks at affordable prices.
Last month the trust announced plans to make and sell biodiesel produced from vegetable oils and animal fat to sell to local motorists, the fishing industry and manufacturers.
Talley's Fisheries had preliminary talks with the trust about the biodiesel fuel.