cabinboy
19th Jun 2001, 04:09
Another sad day in Australian Aviation History....another 450 unemployed tech/cabin crew to add to the employment list along with the former impulse staff..
Flight West goes into liquidation
Regional Queensland airline Flight West has gone into liquidation and is not running any of its scheduled flights as of today.
Liquidator Ian Hall from PriceWaterhouseCoopers says he was appointed early this morning to wind up Flight West.
Mr Hall says the company's 450 staff will be out of work and its fleet of 16 aircraft will be disposed of.
He says the company is not another HIH, but its directors have decided it cannot continue to incur liabilities.
"This sort of decision is one that never can be done at the right time," he said.
"They formed a view that to continue to trade would continue to erode the assets of the company which would not be in the interest of the shareholders or the credit holders and that is why they have taken this particular action."
Flight West goes into liquidation
Regional Queensland airline Flight West has gone into liquidation and is not running any of its scheduled flights as of today.
Liquidator Ian Hall from PriceWaterhouseCoopers says he was appointed early this morning to wind up Flight West.
Mr Hall says the company's 450 staff will be out of work and its fleet of 16 aircraft will be disposed of.
He says the company is not another HIH, but its directors have decided it cannot continue to incur liabilities.
"This sort of decision is one that never can be done at the right time," he said.
"They formed a view that to continue to trade would continue to erode the assets of the company which would not be in the interest of the shareholders or the credit holders and that is why they have taken this particular action."