Go Back  PPRuNe Forums > PPRuNe Worldwide > Australia, New Zealand & the Pacific
Reload this Page >

PNG Air restructuring to avoid going broke

Wikiposts
Search
Australia, New Zealand & the Pacific Airline and RPT Rumours & News in Australia, enZed and the Pacific

PNG Air restructuring to avoid going broke

Thread Tools
 
Search this Thread
 
Old 25th Jul 2023, 02:22
  #1 (permalink)  
Thread Starter
 
Join Date: Jun 2018
Location: Port Moresby - The beer is cold at the Aviat and Car Clubs
Posts: 282
Likes: 0
Received 12 Likes on 10 Posts
PNG Air restructuring to avoid going broke

PNG Air’s creditors commit to reducing debt - Post Courier

PNG Air has not released financial reports since year 2019.
Mumbai Merlin is offline  
Old 25th Jul 2023, 08:07
  #2 (permalink)  
 
Join Date: Apr 2010
Location: Brisbane
Age: 58
Posts: 271
Received 33 Likes on 28 Posts
Good to see PWC as the lead consultant in their restructure
markis10 is offline  
The following users liked this post:
Old 25th Jul 2023, 08:49
  #3 (permalink)  
 
Join Date: Nov 2003
Location: Australia
Posts: 452
Received 21 Likes on 13 Posts
Originally Posted by markis10
Good to see PWC as the lead consultant in their restructure
Pro bono but maybe not by choice 😳
On eyre is offline  
Old 25th Jul 2023, 23:54
  #4 (permalink)  
Moderator
 
Join Date: Jan 1996
Location: Utopia
Posts: 7,434
Received 218 Likes on 118 Posts
"PNG Air is proudly owned by major Papua New Guinea institutions and by approximately 2,300 PNG Nationals."
Whose shares presumably now have near zero asset backing.
tail wheel is online now  
Old 26th Jul 2023, 02:53
  #5 (permalink)  
Man Bilong Balus long PNG
 
Join Date: Apr 2002
Location: Looking forward to returning to Japan soon but in the meantime continuing the never ending search for a bad bottle of Red!
Age: 69
Posts: 2,974
Received 99 Likes on 57 Posts
Question

PNG Air? Formerly Milne Bay Airways?

What happened to put them into this state of affairs?
Pinky the pilot is offline  
Old 26th Jul 2023, 03:40
  #6 (permalink)  
 
Join Date: Mar 2005
Location: Somewhere
Posts: 1,467
Received 55 Likes on 38 Posts
They were advertising for pilots a few weeks ago, for both experienced and very low timers.

They have had their challenges over the years, however they still run a good operation.
Duck Pilot is offline  
Old 26th Jul 2023, 04:18
  #7 (permalink)  
 
Join Date: Oct 2017
Location: Pprune is ******
Posts: 165
Received 178 Likes on 74 Posts
Originally Posted by Pinky the pilot
PNG Air? Formerly Milne Bay Airways?

What happened to put them into this state of affairs?
New crash, new name
dejapoo is offline  
Old 28th Jul 2023, 01:57
  #8 (permalink)  
 
Join Date: Nov 2003
Location: QLD
Posts: 588
Received 14 Likes on 6 Posts
What’s the pay and conditions like for experienced pilots?

Originally Posted by Duck Pilot
They were advertising for pilots a few weeks ago, for both experienced and very low timers.

They have had their challenges over the years, however they still run a good operation.
geeup is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.