Hazelton loses millions
Thread Starter
Join Date: Feb 2000
Location: Melbourne, Australia
Posts: 148
Likes: 0
Received 0 Likes
on
0 Posts
Hazelton loses millions
Downloaded from your ABC. ABC Copyright notice applies.
Posted :Fri, 14 Dec 2001 8:26 AEDT
Hazelton loses millions, but outlook positive: CEO.
Regional airline Hazelton has recorded a loss of $4.8 million since September 28.
Hazelton's chief executive officer Andrew Drysdale says the loss can be attributed to part of the cost of getting the service airborn again after being grounded following the collapse of Ansett.
Mr Drysdale says the company needed to be rebuilt from the ground up.
He says the figures take into account the fact the service was inoperable for a whole week but forecasts are looking positive.
"We are now ahead of our passenger numbers we forecast both in passenger numbers and in revenue," he said.
"So it's certainly not a position we'd like to be in but I don't think one can point to the future with a great deal of concern."
A meeting of creditors has been arranged for next week to determine the future direction of Hazelton Airlines
At the meeting they will be asked to consider three options.
The favoured one is to enter into a deed of company arrangement.
Hazelton has been propped up by a $3 million State Government loan to keep it flying while administrators negotiate with possible buyers.
_____________________________________________
And this is under administration as well.
I obviously can't run an Airline, we never lost anything like this.
Posted :Fri, 14 Dec 2001 8:26 AEDT
Hazelton loses millions, but outlook positive: CEO.
Regional airline Hazelton has recorded a loss of $4.8 million since September 28.
Hazelton's chief executive officer Andrew Drysdale says the loss can be attributed to part of the cost of getting the service airborn again after being grounded following the collapse of Ansett.
Mr Drysdale says the company needed to be rebuilt from the ground up.
He says the figures take into account the fact the service was inoperable for a whole week but forecasts are looking positive.
"We are now ahead of our passenger numbers we forecast both in passenger numbers and in revenue," he said.
"So it's certainly not a position we'd like to be in but I don't think one can point to the future with a great deal of concern."
A meeting of creditors has been arranged for next week to determine the future direction of Hazelton Airlines
At the meeting they will be asked to consider three options.
The favoured one is to enter into a deed of company arrangement.
Hazelton has been propped up by a $3 million State Government loan to keep it flying while administrators negotiate with possible buyers.
_____________________________________________
And this is under administration as well.
I obviously can't run an Airline, we never lost anything like this.
