NAC - Officially Broke
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NAC - Officially Broke
The bubble seems to have burst for NT charter company Northern Air Charter. Today's NT News reports that the Darwin based charter airline has gone bust only 3 months after being "saved" by interstate investors. The company is reported to owe hundreds of thousands of dollars to maintenance companies, fuel suppliers and in aircraft hire costs. New owner Philip George is reported as staing that the company will not be able to pay it's debts. He is also quoted as saying that he did not investigate the finances of the business in enough detail prior to purchasing it from local identity Stefan Wood in July 2005.
Shortly after purchasing the company, he was sent an unexpected bill from the taxation office for several hundred thousand dollars. Stefan Wood is qouted as saying that he has had no involvement with NAC since the sale, in the next sentence he is qouted as saying he still consults for them.
Looks like the days of loud mambo shirts, Top End Boys TV and Richard Branson style excesses are over forever in that particular hangar.
Full story in today's NT News, page 3 behind another crocodile scandal.
Shortly after purchasing the company, he was sent an unexpected bill from the taxation office for several hundred thousand dollars. Stefan Wood is qouted as saying that he has had no involvement with NAC since the sale, in the next sentence he is qouted as saying he still consults for them.
Looks like the days of loud mambo shirts, Top End Boys TV and Richard Branson style excesses are over forever in that particular hangar.
Full story in today's NT News, page 3 behind another crocodile scandal.
The end of an era.
Top class professional organisation, run by a true gentleman.
A true friend of the GA pilot.
A sad, sad day.
Top class professional organisation, run by a true gentleman.
A true friend of the GA pilot.
A sad, sad day.
Last edited by thinking pilot; 12th Oct 2005 at 00:35.
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No, a great day where justice finally prevailed.
I think you’ll find that the Leprechaun has no friends. His last one was J.R. from DirectAir who f#cked him at his own game. Certainly won’t be any GA pilots calling him a friend.
A classic example of what goes around comes around. I heard he even had to sell his Leprechaun House. The one the pilots payed for with their sweat and tears.
I can’t help feeling sorry for Philip but the imbecile should have known better than to trust Stefan’s accounting. If you do business with a crook eventually you will get robbed.
Good to see the pilots kept their positions. After all there would be no company without them. So who coughs up for their back-pay now?
And to the predictable replies from the Stefan fan club – NO he was not the saviour of the low time GA pilot, just a predator of the weak.
I just hope he has learned something from this experience and becomes a better person / businessman for it.
I think you’ll find that the Leprechaun has no friends. His last one was J.R. from DirectAir who f#cked him at his own game. Certainly won’t be any GA pilots calling him a friend.
A classic example of what goes around comes around. I heard he even had to sell his Leprechaun House. The one the pilots payed for with their sweat and tears.
I can’t help feeling sorry for Philip but the imbecile should have known better than to trust Stefan’s accounting. If you do business with a crook eventually you will get robbed.
Good to see the pilots kept their positions. After all there would be no company without them. So who coughs up for their back-pay now?
And to the predictable replies from the Stefan fan club – NO he was not the saviour of the low time GA pilot, just a predator of the weak.
I just hope he has learned something from this experience and becomes a better person / businessman for it.
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NAC: Leprechaun loses pot of gold and rainbow
The last week has seen the final nail in the NAC coffin, with it losing its AOC. But as we now read it doesn't end there - AusJet refuses to allow the leprechaun to fly it's aircraft, his post-modern 80's miami vice wannabe house is up for sale (someone let Crockett and Tubbs know), the girlfriend and the 'monroe' went ages ago (the ute is a good look by the way leprechaun - don't roll that one) and now the fact that PG can't finance his soon to be nominated creditors.
Leprechaun as has been said by Erin what goes around comes around - can you possibly put a number of how many pilots from the Top End that have had even the slightest amount to do with you that are now rejoicing in the fact that you have lost it all? Funny isn't it that you are still a small fish floating belly up in a small tank.
It is quite well acknowledged on this site the way that you have treated pilots like they are nothing except scum. I have friends that have worked for you and you yourself know that this sort of misadventure was due for a long time. That you have lost everything is the way that it should have happened, (no more cash jobs going straight from the safe to your greasy little mitts)
Leprechaun - even in absolute defeat you attempt to parade as Thinking Pilot and that you helped low time pilots - what a load of rubbish (obviously a wind up) the 'grapevine' has been lavishing your demise. I'd suggest you save some cash and disconnect from the net - you may need $$
And for the sale of NAC, who would ever trust the leprechaun in the sale of NAC without running some numbers very very carefully - no sympathy there.
I'd say it's a fair bet that your old mate in maintenance isn't too happy either - his planes don't seem to be moving.
Shame you didn't make it to ten years huh leprechaun
Leprechaun as has been said by Erin what goes around comes around - can you possibly put a number of how many pilots from the Top End that have had even the slightest amount to do with you that are now rejoicing in the fact that you have lost it all? Funny isn't it that you are still a small fish floating belly up in a small tank.
It is quite well acknowledged on this site the way that you have treated pilots like they are nothing except scum. I have friends that have worked for you and you yourself know that this sort of misadventure was due for a long time. That you have lost everything is the way that it should have happened, (no more cash jobs going straight from the safe to your greasy little mitts)
Leprechaun - even in absolute defeat you attempt to parade as Thinking Pilot and that you helped low time pilots - what a load of rubbish (obviously a wind up) the 'grapevine' has been lavishing your demise. I'd suggest you save some cash and disconnect from the net - you may need $$
And for the sale of NAC, who would ever trust the leprechaun in the sale of NAC without running some numbers very very carefully - no sympathy there.
I'd say it's a fair bet that your old mate in maintenance isn't too happy either - his planes don't seem to be moving.
Shame you didn't make it to ten years huh leprechaun
It is funny how little discussion his ultimate demise has generated. It has been an interesting story from the small beginnings with C310Q VH-HZR bought from MIMI AIR back in 1995/96. Then came the 944 Porsche and so on and so on.
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The best news i have had in a long time. Many a flying business come and go, and for the majority it is external factors to which the owner has no control, that cause the business to close. In this case it is the fault of one person only, and as stated prior there will be plane loads of happy people to see this day come. He has shafted not only pilots but many aircraft owners also, and for someone who once thought he had all the smarts and power in the world he is now a nothing. Now he may see what life is like on the other side without might and money. He may get a job flying again but one can only hope its in a 152 in the middle of the Simpson on a 45 degree day. For those that feel for PG rest easy as he was a large part of the running of nac way before July. For the people of Darwin dont be to concerned about the lack of transport as im sure there will be another flying business ready to open soon, and maybe moore visitors now that the scum of the airport has been wiped off.
If anyone who knows when the sale of assets will be please post as i am keen to get a Barron for $30,000
If anyone who knows when the sale of assets will be please post as i am keen to get a Barron for $30,000
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dumb and dumber
I find it just way too hard to believe that even the most trusting businessman would buy a GA charter company without having the accounts examined in detail. It just does not sound right l that his bloke would buy into an already reputation tainted company and then be surprised by a tax bill in the mail for "several hundred thousand dollars".
That suggests to me that tax wasn't being paid prior to sale or that tax was not paid prior to end of financial year 04/05 or something like that. Anyway, the guy is a goose for not checking the books but it seems that there is more to this than what was reported. Nobody can be that stupid and the buyer's contract lawyers would have been all over it like a rash when they did the assets and profit / loss figures..............either way, the tax office will get their bit I can assure you.
Something stinks about it. Noone is that stupid............ or are they?
That suggests to me that tax wasn't being paid prior to sale or that tax was not paid prior to end of financial year 04/05 or something like that. Anyway, the guy is a goose for not checking the books but it seems that there is more to this than what was reported. Nobody can be that stupid and the buyer's contract lawyers would have been all over it like a rash when they did the assets and profit / loss figures..............either way, the tax office will get their bit I can assure you.
Something stinks about it. Noone is that stupid............ or are they?
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I would like to know what people think will happen to the Darwin seen. Will the local industry FINALLY change and stop offering cheap air charter. Now some of the local engineers and refuelers will be hurting rather than just the pilots. I think the engineers and refuellers will be less tolerant about unpaid bills. Sadly, this has happened not too long after a good commercially viable company like Anadilly... closed down.
I personally, would hate to see the other Darwin companies rushing into feast on the something that represents a commercial abortion.
No more cheap air charter. Sorry, to those aspiring pilots, but it's not worth it. Move somewhere else.
U2
I personally, would hate to see the other Darwin companies rushing into feast on the something that represents a commercial abortion.
No more cheap air charter. Sorry, to those aspiring pilots, but it's not worth it. Move somewhere else.
U2
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what comes around goes around
Well well me thinks the next one on the list will be AN.
From having met some former (good) staff now in the airlines they owe over 100k in unpaid super.. from 4 years ago !.. i know of a few former employees taking their case to court over other matters too, such as award packpay. Sounds just like another Nac to me...
Time to pull your finger out of your butt fellas, an pay up what the employees are entitled to. By the way they are specials on at K-mart for 20 lt jerrycans.
From having met some former (good) staff now in the airlines they owe over 100k in unpaid super.. from 4 years ago !.. i know of a few former employees taking their case to court over other matters too, such as award packpay. Sounds just like another Nac to me...
Time to pull your finger out of your butt fellas, an pay up what the employees are entitled to. By the way they are specials on at K-mart for 20 lt jerrycans.
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"Well well me thinks the next one on the list will be AN".
Hang on a minute: I thought AN fell over 4 years ago. Don't tell me I was supposed to be still going to Tulla each day all this time
Vacant Towers
Hang on a minute: I thought AN fell over 4 years ago. Don't tell me I was supposed to be still going to Tulla each day all this time
Vacant Towers
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Seen in the classies
The following ad was seen in today's newspaper lawn sale classifieds
"FOR SALE: Large selection of obnoxious mambo shirts - well worn, Holden Monaro - badly damaged but good for spare parts, One Coaster Bus - also badly damaged, interior smells of alcohol, good for spare parts, one golf cart and trailer - both badly damaged but may be good for parts, one leprechaun costume including hat, some grass and minor blood stains - great for corporate golf days, One Pilot headset - hardly used, Operator's manual for Cessna Citation Jet - never used and still in box, assorted scooters, wakeboards, skateboards, boogie boards, water skis and other toys and gadgets in various colours, large selection of cheap aircraft paint - red and white colour only but suitable for DIY paint jobs, various framed pictures of self - frames may be suitable for re use.
Must sell. Owner short on cash and leaving town. "
I wonder if that is related...............
"FOR SALE: Large selection of obnoxious mambo shirts - well worn, Holden Monaro - badly damaged but good for spare parts, One Coaster Bus - also badly damaged, interior smells of alcohol, good for spare parts, one golf cart and trailer - both badly damaged but may be good for parts, one leprechaun costume including hat, some grass and minor blood stains - great for corporate golf days, One Pilot headset - hardly used, Operator's manual for Cessna Citation Jet - never used and still in box, assorted scooters, wakeboards, skateboards, boogie boards, water skis and other toys and gadgets in various colours, large selection of cheap aircraft paint - red and white colour only but suitable for DIY paint jobs, various framed pictures of self - frames may be suitable for re use.
Must sell. Owner short on cash and leaving town. "
I wonder if that is related...............
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nice one gin
it is true that RATS jump off sinking ships.
says a lot about the character of the man in question.
looks like he's done the full circle.
hopefully he'll realise in future that he should treat people with respect. that way maybe people would respect him.
leason learnt.
it is true that RATS jump off sinking ships.
says a lot about the character of the man in question.
looks like he's done the full circle.
hopefully he'll realise in future that he should treat people with respect. that way maybe people would respect him.
leason learnt.
Silly Old Git
Always a shame when someone loses it.
No real winners only bloody lawyers.
Still...one bright spot...we may NEVER EVER be subjected to The Top End Boys again !
No real winners only bloody lawyers.
Still...one bright spot...we may NEVER EVER be subjected to The Top End Boys again !