Hazelton Airlines awaits Fate.
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Hazelton Airlines awaits Fate.
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Posted :Wed, 12 Dec 2001 14:22 AEDT
Hazelton Airlines awaits fate.
A meeting of creditors has been arranged for next week to determine the future direction of Hazelton Airlines, which flies to the region.
The meeting is scheduled for next Tuesday, and creditors have been given reports by administrator Sims Lockwood detailing the progress of Hazelton and some early findings.
At the meeting the creditors will be asked to consider three options. The favoured one is to enter into a deed of company arrangement, or to end the administration, or to wind up the entities under the Hazelton group.
In a statement, administrator Michael Humphris said he is currently assessing two serious bids for the airline, but does not expect a sale before February next year.
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Posted :Wed, 12 Dec 2001 14:22 AEDT
Hazelton Airlines awaits fate.
A meeting of creditors has been arranged for next week to determine the future direction of Hazelton Airlines, which flies to the region.
The meeting is scheduled for next Tuesday, and creditors have been given reports by administrator Sims Lockwood detailing the progress of Hazelton and some early findings.
At the meeting the creditors will be asked to consider three options. The favoured one is to enter into a deed of company arrangement, or to end the administration, or to wind up the entities under the Hazelton group.
In a statement, administrator Michael Humphris said he is currently assessing two serious bids for the airline, but does not expect a sale before February next year.
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